Payment for Earned Vacation Sample Clauses

Payment for Earned Vacation. A. Date of Payment Upon qualification, the employee can submit for vacation pay within one year. Vacation pay will be issued 2 pay periods after the employee submits a vacation time card. Vacation pay requests may be made any time after the employee’s anniversary date up to a period of one year.
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Payment for Earned Vacation. A. Cash Out and Rate of Pay Employees may elect to be compensated in cash for their unused vacation. Employers will only cash out employees’ vacation when the employee has made an affirmative election for such payment. Vacation time, when used throughout the year, will be paid to the employee on his/her next paycheck following usage, and will be paid at the rate of pay in effect that the time of payment. Cash out of vacation pay is to be paid the second payday after the pay period of the employee's anniversary date of hire at the rate of pay in effect at the time of payment.
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Payment for Earned Vacation. Each Seller shall pay to Purchaser by wire transfer of immediately available funds to an account designated by Purchaser, its pro rata share of the value, as of Closing, equal to ninety percent (90%) of all estimated earned vacation pay of all employees of Sellers who accept employment to continue working at the Facilities after Closing ("TRANSITIONED EMPLOYEES") as set forth on Schedule 4.16 attached hereto (the "ESTIMATED EARNED VACATION AMOUNT") in accordance with Sellers' employee benefit plans and policies in effect as of the Effective Date. Thirty (30) days following the Effective Date, Sellers shall pay the difference between the Estimated Earned Vacation Amount and the actual amount of all earned vacation pay in respect of Transitioned Employees plus any amounts due in respect of taxes that may be payable on the actual amount of earned vacation pay (together with the Estimated Earned Vacation Amount, the "EARNED VACATION AMOUNT"). Sellers shall deliver to Purchaser an updated schedule on or before Closing which shall include all earned vacation pay as of the Closing Date.
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Related to Payment for Earned Vacation

  • Paid Vacation Except as otherwise provided in this Article, paid vacation shall be granted no later than the fiscal year immediately following the fiscal year in which it is earned. Following the completion of six (6) months of service, the employee shall be entitled to use earned paid vacation.

  • Annual Vacation Employee shall be entitled to twenty (20) business days of paid vacation during each year of this Agreement. Employee may be absent from his employment for vacation at such times as are pre-approved by the Employer’s Chief Executive Officer. Unused vacation shall not be carried over into the next year, and will not be paid in the form of cash.

  • Vacation Earnings for Partial Years (a) (1) During the first partial year of service a new employee will earn vacation at the rate of one and one-quarter (1¼) days for each month for which he/she earns ten (10) days' pay.

  • Accrued Vacation It is further agreed by the parties hereto that, upon sale or transfer of ownership of any store or upon dissolution of business, vacation pay for all months worked for which no vacation pay has been given shall be immediately paid to all employees coming under this Agreement, regardless of length of time said employee has been with the Employer.

  • Accrued Salary and Vacation On the Separation Date, the Company will pay you all accrued salary and all accrued and unused vacation earned through the Separation Date, subject to standard payroll deductions and withholdings. You will receive these payments regardless of whether or not you sign this Agreement.

  • Banked Vacation Once every five years an employee may bank one full year's vacation to be taken in conjunction with the next year's vacation. For the purposes of this clause, all vacation in the second year must be taken concurrently.

  • Benefits; Vacation Employee shall be eligible to receive all benefits as are available to similarly situated employees of Employer generally, and any other benefits that Employer may, in its sole discretion, elect to grant to Employee from time to time. In addition, Employee shall be entitled to four (4) weeks paid vacation per year, which shall be pro-rated for the first partial year of employment and shall accrue in accordance with Employer’s policies applicable to similarly situated employees of Employer.

  • ANNUAL VACATIONS Paid annual vacation for all employees covered by this Agreement shall be allowed as follows:

  • Annual Vacation Entitlement (a) An Employee shall be entitled to receive annual vacation leave with pay:

  • Annual Vacation Leave 33.01 An Employee shall not take vacation leave without prior authorization from the Employer.

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