VALUE OF A HOLIDAY FOR PURPOSES OF TIME OFF AND/OR CASH COMPENSATION Sample Clauses

VALUE OF A HOLIDAY FOR PURPOSES OF TIME OFF AND/OR CASH COMPENSATION. The value of a holiday, for purposes of time off and/or cash compensation, which falls during a pay period is one tenth (1/10) of an employee’s time spent in paid status during said scheduled pay period, excluding overtime. The maximum potential value of a holiday is eight hours for a classification normally scheduled to work eighty (80) hours per pay period.
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Related to VALUE OF A HOLIDAY FOR PURPOSES OF TIME OFF AND/OR CASH COMPENSATION

  • Calculation of Annual Leave Pay Annual leave shall be paid at the employee’s ordinary weekly wage rate for ordinary hours for the period of annual leave (excluding shift allowances and weekend payments but including leading hand allowance); plus an amount equal to 17.5% of the amount

  • Compensation for Work on a Holiday (a) Where an Employee is regularly scheduled to work, in accordance with Article 14, and her regularly scheduled day of work falls on a paid holiday, as defined in Article 18.01, she shall receive compensation equal to two and one-half (2 ½) times her regular rate of pay as follows:

  • Employees Not Eligible for Holiday Compensation 366. Persons employed for holiday work only, or persons employed on a part-time work schedule which is less than twenty (20) hours in a bi-weekly pay period, or persons employed on an intermittent part-time work schedule (not regularly scheduled), or persons employed on as-needed, seasonal or project basis for less than six (6) months continuous service, or persons on leave without pay status immediately preceding or immediately following the legal holiday shall not receive holiday pay.

  • Cashing out of Annual Leave (a) Annual leave credited to an employee may be cashed out by agreement, subject to the following conditions: (refer to section 93 of the Act)

  • Part-time Employees Eligible for Holidays 367. Part-time employees who regularly work a minimum of twenty (20) hours in a bi-weekly pay period shall be entitled to holiday pay on a proportionate basis. 368. Regular full-time employees are entitled to 8/80 or 1/10 time off when a holiday falls in a bi-weekly pay period, therefore, part-time employees, as defined in the immediately preceding paragraph, shall receive a holiday based upon the ratio of 1/10 of the total hours regularly worked in a bi-weekly pay period. Holiday time off shall be determined by calculating 1/10 of the hours worked by the part-time employee in the bi-weekly pay period immediately preceding the pay period in which the holiday falls. The computation of holiday time off shall be rounded to the nearest hour.

  • Accrual of Annual Leave (1). Full-time employees appointed for more than nine (9) months, except employees on academic year appointments, shall accrue annual leave at the rate of 6.769 hours biweekly or 14.667 hours per month (or a number of hours that is directly proportionate to the number of days worked during less than a full-pay period for full-time employees), and the hours accrued shall be credited at the conclusion of each pay period or, upon termination, at the effective date of termination. Employees may accrue annual leave in excess of the year end maximum during a calendar year. Employees with accrued annual leave in excess of the year end maximum as of December 31, shall have any excess converted to sick leave on an hour-for-hour basis on January 1 of each year.

  • Accrual Rate of Sick Leave With Pay Credits Full-time employees shall accrue eight (8) hours of sick leave with pay credits for each full month worked. Employees who work less than the full month but at least thirty-two (32) hours during the month shall accrue sick leave with pay on a pro rata basis for the month.

  • Accumulation of Annual Leave A. During the first three (3) years of employment, a regular or limited term employee shall earn approximately five (5) hours and fifty-one (51) minutes of annual leave during each eighty (80) hour pay period (approximately one hundred fifty-two [152] hours per year), or a prorated amount for any pay period in which the employee is paid for less than eighty (80) hours.

  • Cashing out annual leave Annual leave may be cashed out by agreement between the Company and an Employee, subject to the following conditions: ▪ An Employee must elect in writing to cash out annual leave; ▪ An Employee must not cash out more than two (2) weeks annual leave in each twelve (12) month period; ▪ The Company must agree to the Employee cashing out their annual leave.

  • Definition of Regular Straight Time Rate of Pay The regular straight time rate of pay is that prescribed in wage schedule of the Collective Agreement.

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