Non-Use Bonus Sample Clauses

Non-Use Bonus. At the conclusion of the contract year, an employee in the bargaining unit who has not utilized all of his/her personal days for the contract year shall receive a bonus. The employee shall have the option to select which type of bonus payment he/she would like to receive: either convert unused personal days to sick leave or cash payment for the unused personal days (cash payment shall be equal to the employee’s per diem rate multiplied by the number of unused person days). If cash payment is selected, the payment shall be made by separate check with the first August paycheck. Personal days may be paid in half-day and full-day increments or rolled over into accumulated sick leave in half-day or full-day increments.
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Related to Non-Use Bonus

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

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