Payoff of Paid Time Off (PTO Sample Clauses

Payoff of Paid Time Off (PTO. Any accrued PTO that is not used during the academic year in which it was accrued, will be paid out to the Resident as earned PTO at the end of each academic year, except in the case of a Resident’s third year, in which case the PTO will be paid out upon termination in the event the Resident’s academic year is extended. During any extension of a Resident’s academic year, the Resident will retain access to and the use of any accrued and unused PTO, subject to the parameters of the Residency Program. However, if a Resident leaves the program and terminates employment in the first six months of his/her 1st year, PTO will be paid out at 50% of the Resident’s PTO balance. Each Resident who separates from Hospital service for any reason shall be entitled to payment of the monetary equivalent of 100% of all unused PTO remaining to such Resident’s credit at the time of separation, computed on the basis of such employee’s base hourly rate, except as noted above. An employee’s beneficiary shall be entitled to payment of the monetary equivalent of 100% of all unused PTO due to death.
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Related to Payoff of Paid Time Off (PTO

  • Paid Time Off (PTO) Executive shall earn and accrue paid-time-off covering vacation and sick time benefits at the rate of twenty (20) days per year for employment periods of up to five years of service. The PTO accrual rate shall automatically increase by five (5) additional days for each additional 5 years of service up to maximum of thirty (30) days per year after 10 years of service. For example, after five years of service, the annual PTO accrual rate shall increase to twenty-five (25) days. Unused PTO shall carry over to the next year, but Executive shall cease accruing further PTO at any time Executive has accrued two times his annual accrual rate. Unused PTO days which are not in excess of two-times the annual accrual rate shall be paid in a cash lump sum payment promptly after Executive’s termination of employment.

  • Unpaid Time Off All accruals must be exhausted prior to taking unpaid time off (unless eligible for EIT access).

  • Paid Time Off The Executive shall be entitled to take paid time off in accordance with the Company’s applicable paid time off policy for executives, as may be in effect from time to time.

  • Time Off Between Shifts Failure to provide the minimum number of hours between the commencement of an employee's scheduled shift and the commencement of such employee's next scheduled shift shall result in payment of one and one-half (1½) times the employee's regular straight time hourly rate for only those hours which reduce the minimum hour period. Where the minimum period is reduced as a result of an approved change of shift(s) requested by the employee(s), such premium payment shall not apply. The minimum number of hours for purposes of this Article shall be determined locally and will be set out in the Local Provisions Appendix.

  • Time Off The company recognises that sufficient time off to attend to personal matters and for recreation are important to the employee’s wellbeing, job satisfaction and overall productivity. Accordingly, time off may be taken with the consent of the Company, which shall not be unreasonably withheld. In considering the approval to have time off, the Parties will have regard to the current works programme and the urgency of the reason for time off. In the event that time off is to be taken, it will be the employee’s obligation to advise the Company in advance or as soon as practicable on the day of absence, recognising that unplanned absences can cause costly disruption to programmed works and are a major source of annoyance for the company, other employees and clients. The object of offering flexible working hours is that in return employees will take very seriously their obligation to turn up when they are expected. In view of the disruption caused by unplanned and or notified absenteeism, repeated failure to observe the protocol for time off would constitute misconduct.

  • Voluntary Time off Program The mandatory furlough provisions of Civil Service Commission Rule 120 shall not apply to covered employees.

  • Vacation Buy Back Employees shall have the option of requesting pay in lieu of time off up to a maximum of 144 hours of vacation time each year, during each year of the contract in increments of eight (8) hrs. Such requests are subject to the approval of the department head and the availability of funds.

  • Approved Leave of Absence During Vacation Where it can be established by the employee through a doctor's certificate that an illness or accident occurred, or where an employee qualifies for bereavement or any other approved leave during his/her period of vacation, there shall be no deduction from vacation credits for such absence. The period of vacation so displaced shall either be added to the vacation or reinstated for use at a later date, at the employee's option, as mutually agreed.

  • Personal Time Off Executive shall be entitled to paid time off in accordance with the Company’s policies applicable to executives.

  • Approved Leave of Absence With Pay During Vacation When an employee is qualified for bereavement leave, sick leave or any other approved leave with pay during her vacation period, there shall be no deduction from the vacation credits for such leave. In the case of sick leave, this section shall only apply when the period of illness or injury is in excess of two (2) days and a note from a physician may be required. The period of vacation so displaced shall be taken at a mutually agreed time. An employee intending to claim displaced vacation leave must advise the Employer and provide necessary documentation within seven (7) days of returning to work.

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