Common use of Repayment Options Clause in Contracts

Repayment Options. The employee will have the option to repay the overpayment over a period of time equal to the number of pay periods during which the overpayment was made unless a longer period is agreed to by the employee and the University. The payroll deduction to repay the overpayment will not exceed five percent (5%) of the employee’s disposable earnings in a pay period. However, the University and employee can agree to an amount that is more than the five percent (5%). The employee has the following options for paying back the overpayment: o Wage deduction o Cash