Common use of Sell Back Clause in Contracts

Sell Back. After the last full pay period ending in May and November, employees may elect to receive payment for PTO hours earned but not used. Full time employees may sell back up to forty (40) hours of PTO in eight (8), ten (10), or twelve (12) hour increments provided they maintain seventy-two (72) hours in their bank at the time of the sell back. Part-time and limited part-time employees may sell back up to twenty-four (24) hours in eight (8), ten (10), or twelve (12) hour increments provided they maintain thirty-six (36) hours in their bank. Payment will be made at the employee’s base rate of pay. Sell back requests must be done in employee self service during the prescribed timeline. Sell back is voluntary and the decision to do so is final. Employees with fifteen (15) years or more of service who accrue more than their maximum allowable amount of PTO time by December 15 may elect to sell back up to forty (40) hours of additional PTO at the employee’s base rate of pay.