Common use of Vacation Buy Back Clause in Contracts

Vacation Buy Back. An employee who utilizes at least one-half of his annual vacation accrual each fiscal year may convert up to forty (40) hours of accrued vacation to cash at his straight time rate. Employees may request buy-back during the month of May to be paid in the month of June, or at the time the employee takes one-half of his annual vacation. Buy-back is subject to available budget.

Vacation Buy Back. An employee Employees who utilizes at least one-half have scheduled and taken a minimum of his annual 80 hours of vacation accrual during each fiscal calendar year may convert shall be permitted to receive the cash value of up to forty (40) 51.4 hours of unused but accrued vacation to vacation. For Vacation Buy-back purposes only, when assigned a 40-hour workweek schedule, each hour has a 1.2857-hour equivalency. The cash at his straight time rate. Employees may request value of the buy-back during hours will be determined by multiplying the month of May hours to be paid in by the month employee’s enhanced hourly rate of June, or at the time the employee takes one-half of his annual vacation. Buy-back is subject to available budgetpay.

Vacation Buy Back. An employee Employees who utilizes at least one-half have scheduled and taken a minimum of his annual 80 hours of vacation accrual during each fiscal calendar year may convert shall be permitted to receive the cash value of up to forty (40) 51.4 hours of unused but accrued vacation to vacation. For Vacation Buy-back purposes only, when assigned a 40-hour workweek schedule, each hour has a 1.2857-hour equivalency. The cash at his straight time rate. Employees may request value of the buy-back during hours will be determined by multiplying the month of May hours to be paid in by the month employee’s actual hourly rate of June, or at the time the employee takes one-half of his annual vacation. Buy-back is subject to available budgetpay.