SICK TIME BUYBACK Sample Clauses

SICK TIME BUYBACK. 24.1 In order to provide an incentive for employees to accumulate and maintain an adequate amount of sick leave, the City has initiated a "sick day buyback plan". Under this plan employees who do not use sick days will be compensated by the City purchasing back some of the days not used that were earned in the relevant year. The sick day buy back incentive plan will be implemented only at the employee's written request which must be provided to the employer by January 1st of each year of the contract, to receive payment for sick days accumulated in the previous year. In order to qualify for the plan the employee must first accumulate and not use six (6) days of sick leave in the relevant year. Any sick days not used in excess of the six days of accumulation will be bought back by the City at the employee's regular rate of pay. Pays will be made once a year and included in the final January paycheck of the succeeding year. Only employees hired prior to June 1st of each year would qualify for the program in that year. Buy-back Example: 8 2 9 3 11 5 13 7
Sample 1
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SICK TIME BUYBACK. Any officer that has accrued a minimum of seventy-five (75) sick days may sell back any balance above seventy-five (75) days not to exceed $5,000 per year. Request for buy back must be submitted by September 1st of that year. Payment will be made in the first regular pay ofNovember. The rate of pay will be at seventy-five percent (75%) per day.
Sample 1

Related to SICK TIME BUYBACK

  • Sick Time An employee shall have all of his/her accrued sick leave credits transferred when the employee is transferred to a different State agency.

  • Sick Leave Buy Back To encourage and reward employees who maintain good job attendance, the parties agree to the following incentive award: Employees who utilize two (2) sick leave days or less each assigned school calendar year and year-round employees who utilize three (3) sick leave days or less during each assigned school calendar year - upon request – shall receive payment for up to eight (8) days of sick leave, provided the employee worked the full assigned calendar year.* The following procedures apply to the payment of sick leave under this section.

  • 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.

  • Prime Time Vacation Period Subject to the provisions of this article, it is the intent of the parties that no employee will be restricted in the time of year they choose to take their vacation. The Employer will make every effort to allow employees to take their vacation during the period of April 15th to October 15th inclusive, which will be defined as the prime time vacation period.

  • Vacation; Paid Time Off During the Employment Term, the Executive shall be entitled to fifteen (15) paid vacation days per calendar year (prorated for partial years) in accordance with the Company’s vacation policies, as in effect from time to time that is at least as favorable as that provided to other similarly situated executives of the Company. The Executive shall receive other paid time-off in accordance with the Company’s policies for executive officers as such policies may exist from time to time.

  • Sick Days (a) Any employee who has been employed by the Employer for three (3) months or longer shall be entitled to five (5) sick days per calendar year. Sick days will be automatically allocated for all unscheduled absences. Unused sick days shall be paid out on the last pay period of the year or at the time of separation. 62

  • Sick Leave Usage A. Sick leave may be used for an employee or an employee's child, spouse or parent's illness or injury, hospitalization and appointment pertaining to health.

  • 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.

  • 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.

  • Sick Leave Cash Out Eligible employees may elect to receive monetary compensation for accrued sick leave as follows: In January of each year an employee whose sick leave balance at the end of the previous year exceeds four hundred eighty (480) hours may elect to convert the sick leave hours earned in the previous calendar year, minus those hours used during the year, to monetary compensation. No sick leave hours may be converted which would reduce the calendar year end balance below four hundred eighty (480) hours. Monetary compensation shall be paid at the rate of twenty-five percent and shall be based on the employee’s current salary. All converted hours will be deducted from the sick leave balance. Employees who separate from University service due to retirement or death shall be compensated for the unused sick leave accumulation from the date of most recent hire in a leave eligible position with the State of Washington at the rate of 25%. Compensation shall be based upon the employee’s wage at the time of separation. For the purpose of this section, retirement shall not include vested out of service employees who leave funds on deposit with the retirement system. Former eligible employees who are re-employed within three (3) years of their separation from service shall be granted all unused sick leave credits, if any, to which they are entitled at time of separation.

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