Leave Buy Back Clause Samples
A Leave Buy Back clause allows employees to sell back a portion of their accrued but unused leave to their employer, typically in exchange for additional pay. This clause outlines the conditions under which leave can be bought back, such as eligibility criteria, the types of leave covered (like annual or vacation leave), and the calculation method for payment. Its core practical function is to provide flexibility for both employees, who may prefer extra compensation over time off, and employers, who can manage workforce availability more effectively.
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Leave Buy Back. Section 1 In December of 2014,2015, of the Agreement, a leave buy-back program will be available to full-time employees who have successfully completed an initial probationary period with the Employer. The Employer will buy back at the rate of $110 per day, up to four (4) days of prior accrued personal,sick, vacation, or compensatory leave time as selected by the employee. This section will remain in effect for 2014 and 2015 only.
Leave Buy Back. When an employee with a minimum of five (5) years of service to the District retires his/her position or passes away while eligible for retirement with the district, his/her accrued leave will be bought back by the district at a rate of $50 per day up to 30 days.
Leave Buy Back i. For the duration of the contract, WCSC may establish and implement a sick / personal day buyback program that provides teachers with an opportunity to sell back unused sick or personal days to the corporation for $100 per day, up to 10 total days each year.
ii. The following conditions must be met to participate in the buy back program:
1. Teacher must submit a written request to the Payroll Clerk by June 15th following the end of the school year.
2. Teacher must have a minimum of 20 accumulated sick/personal days when the request is made;
3. Only days in the current school year can be bought back;
iii. Compensation can be in the form of a direct payment or placed in a pre-tax account.
iv. This provision shall expire at the end of the 2024-2025 year.
Leave Buy Back. 1. Universal Leave Maximum accumulation of universal leave is forty (40) days. At the end of each school year, any teacher with a minimum of twenty (20) universal leave days accumulated can choose to keep those days in their accumulated balance or sell back any days over twenty (20) at $50 per day with the payment made on the employee’s June paycheck. Any accumulated universal days over forty (40) must be sold back to the district at $50 per day with the payment made on the employee’s June paycheck.
2. Unused Sick Leave Balance at the end of 2021/2022 School Year At the beginning of the 2022/2023 school year, teachers can choose whether to grandfather their unused sick leave days as sick leave or transition those days to universal leave. For those grandfathering their unused sick leave days, the days will remain as sick leave and can only be used for personal illness or illness in the immediate family. Universal days must be used first for any time off. Payment for non-used sick leave is based on a minimum accumulation of twenty (20) days to become eligible for payment. Payment to the individual or estate to be made upon retirement, reduction in force, resignation (prior to June 1 of contract year), death, or long-term disability. The payment rate is based on 100% of accumulated days, at the rate of $20 per day. For those transitioning to universal leave, the first 40 days of accumulated sick leave will automatically switch to universal leave days. Any remaining accumulated sick leave over the forty (40) days will be sold back to the district. The days will be bought back at ten (10) days per school year at $25 per day with the payment made on the employee’s June paycheck.
Leave Buy Back. Non-statutory leave days can be bought back by easyJet with the consent of the employee member at a rate agreed and published by Notice to crew (NTC), terms and conditions of this will also be stipulated in this NTC , Leave buy back can only occur when easyJet initiates the process.
Leave Buy Back. In accordance with appropriate regulations concerning the Federal Employees Compensation Act, 5 U.S.C. 8100, the Department will whenever practicable provide for employees to buy back annual or sick leave used in lieu of injury compensation.
Leave Buy Back. On August 1 of each year an employee may elect to sell back to the City two (2) hours of vacation leave for every hour of vacation leave used during the following twelve (12) month period not to exceed eighty (80) hours per fiscal year. Selling vacation leave hours to the City under this provision shall be in lieu of any other option to vacation days under this Agreement or any other City policy or practice. The City shall distribute funds in cash or as contribution to deferred compensation or as otherwise directed by the employee. Any costs incurred for the transfer of funds for distributions other than direct payment to the employee shall be the responsibility of the employee.
Leave Buy Back. The City will buy back or convert either in “pay” or in “other forms of leave,” at the officer’s discretion up to 120 unused sick leave hours on a one-for-one basis provided that the officer requests same in writing on a form provided by the City by the end of the first pay period in October; and the officer has a balance after the buy back of not less than 400 hours accumulated sick leave,. ▇▇▇▇ leave buy back will be paid at the regular rate of pay, which includes the incentive pay used in overtime calculations, applicable to the officer at the time the payment is actually paid to the officer for the leave buy back. Effective October 1, 2012 and Each October, thereafter the City will buy back or convert either in “pay” or in “other forms of leave,” at the officer’s discretion up to 8 unused bonus leave hours on a one-for-one basis provided that the officer requests same in writing on a form provided by the City by the end of the first pay period in October; and the officer has a balance after the buy back of not less than 400 hours accumulated bonus leave. Bonus leave buy back will be paid at the regular rate of pay, which includes the incentive pay used in overtime calculations, applicable to the officer at the time the payment is actually paid to the officer for the leave buy back. The City shall distribute funds in cash or as other forms of leave. The City agrees to allow Officers to adjust their paycheck the pay period before or after the sale of leave hours in order for the officer to make contributions to their deferred compensation plan. The Accounting Unit will run in the Daily Bulletin during the month of September notification to the Officer to file, in writing, for the leave buy back. The City will pay the Officer his amount due at the same time as other City employees are paid for their leave buy back but not later than Christmas Eve day.
Leave Buy Back. Written notice of intent to retire must be submitted by October 1st of the year preceding the effective date of retirement. Employees covered by this Collective Bargaining Agreement who have completed ten (10) consecutive years of service in the ▇▇▇▇▇▇ Public School system, and who submit written notice to the Superintendent of Schools of their retirement, shall be compensated for unused accumulated Sick Leave. Such payment shall be based on 30% of the employee’s unused accumulated sick leave at the rate of twenty ($20.00) dollars per day of unused Sick leave. Effective July 1, 2006, the rate shall be thirty ($30.00) dollars, and effective July 1, 2007, the rate shall be forty ($40.00) dollars. In the Event that mandatory retirement requirements make impossible compliance with the notice requirements of this Article, Then such notice shall be waived. Further, in the Event that the employee who gives such notice of retirement should die before the date of retirement, then the compensation due under this Article shall be paid to the Estate of such employee.
Leave Buy Back. No pay shall be given for any type of unused leave except for Article 18.1 "Sick Leave Buy Back" and Article 18.3.4 "Unused Personal Leave". Article XIX. FRINGE BENEFITS