Common use of Cash out of Vacation/Holidays Clause in Contracts

Cash out of Vacation/Holidays. After the employee has the equivalent of at least fifteen (15) days of vacation, the employee has the option to cash out up to sixty (60) hours of vacation and/or holidays per year at the employee’s regular rate of pay (including longevity and educational incentives) to be paid out in November of the year for which the cash-out is sought. ARTICLE XIII - HEALTH & WELFARE

Cash out of Vacation/Holidays. After the employee has the equivalent of at least fifteen (15) days of vacation, the employee has the option to cash out up to a maximum of sixty (60) hours of vacation and/or holidays per year at the employee’s regular rate of pay (including longevity and educational incentives) to be paid out at the employee’s request up to two (2) times in November of the year for which the cash-out is sought. ARTICLE XIII - HEALTH & WELFAREpayroll year.