Common use of Vacation Cash Out Clause in Contracts

Vacation Cash Out. Under this provision, regular, full-time employees will be allowed to cash-out unused vacation time they have accrued. The maximum amount of vacation that can be cashed-out in any calendar year is forty (40) hours. In order to receive payment for vacation time pursuant to this section, an employee must make an irrevocable election for vacation cash out by December 15 of the prior calendar year, and must have a minimum of forty (40) hours of vacation remaining on the books after the payout is made. Requests for vacation cash-out must be made in writing on the Irrevocable Vacation Cash Out Election Form provided by the District. The Election is irrevocable and may not be changed. Vacation payout will be made by the District in July of the calendar year following submission of the form. No other payments will be made for this program. No other form of leave time will be eligible for inclusion in this program.

Vacation Cash Out. Under this provision, regular, full-time employees will be allowed to cash-out unused vacation time they have accrued. The maximum amount of vacation that can be cashed-out in any calendar year is forty (40) hours. In order to receive payment for vacation time pursuant to this section, an employee must make an irrevocable election for vacation cash out by December 15 of the prior calendar year, and must have a minimum of forty (40) hours of vacation remaining on the books after the payout pay-out is made. Requests for vacation cash-out must be made in writing on the Irrevocable Vacation Cash Out Election Form provided by the District. The Election is irrevocable and may not be changed. Vacation payout will be made by the District in July of the calendar year following submission of the form. No other payments will be made for this program. No other form of leave time will be eligible for inclusion in this program.