Common use of Cash Alternative Clause in Contracts

Cash Alternative. ‌ Nurses may make an irrevocable election during open enrollment of the preceding year (December) to receive a cash payment from their PTO bank during a specified time period during the year. A minimum often (10) hours may berequested and a minimum of forty (40) hours must remain in the PTO bank following the cash-out. Cash-out of PTO hours will be paid at the nurse's normal rate of pay (as defined in Section 13.5) at that time. In the event that the minimum requirements are not attainable at the time the cash-out is to be made, the amount of the cashout will be adjusted to maintain the minimum requirements.

Cash Alternative. ‌ Nurses may make an irrevocable election during open enrollment of the preceding year (December) to receive a cash payment from their PTO bank during a specified time period during the year. A minimum often of ten (10) hours may berequested be requested and a minimum of forty (40) hours must remain in the PTO bank following the cash-out. Cash-out of PTO hours will be paid at the nurse's normal rate of pay (as defined in Section 13.5) at that time. In the event that the minimum requirements are not attainable at the time the cash-out is to be made, the amount of the cashout will be adjusted to maintain the minimum requirements.