Banked Vacation definition

Banked Vacation has the meaning set forth in Section 7.2(f).

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Banked Vacation is defined in Section 2.8(g).

Banked Vacation is defined in Section 1.7(j).

Examples of Banked Vacation in a sentence

Upon or promptly after the Expiration Date, the Contributor shall pay any Banked Vacation and Carryover Vacation.
The Board reserves the right to eliminate and pay out Banked Vacation when it, at its sole discretion, believes it preferable to pay out, rather than continue accumulating, Banked Vacation, subject to the Code (as defined below).
The following will confirm the understanding and agreement between the parties concerning Banked Vacation Days.
After effecting the AAI Banked Vacation Time Cash-Out, the remaining amount of Banked Vacation Time each Transferred Employee has available for use as of the Closing Date will become his or her starting amount of paid vacation with the Purchaser, or any Affiliate of the Purchaser, as the case may be, for the 2007 calendar year.
Banked Vacation pay will be paid out at the rate that it was earned up to a maximum of two (2) times per calendar year.
You will receive a separate lump sum payment for Banked Vacation time equal to 136 hours or $16,346.18 and current accrued and unused vacation time equal to 57 hours or $6,850.97.
Banked Vacation Effective January upon eligibility for working days (five weeks) of annual vacation, employees may defer and accumulate any vacation entitlement beyond days per year.
All Banked Vacation Days an employee has accumulated as of May 1, 2021 will remain banked and will be paid out upon the employee leaving the Company.

More Definitions of Banked Vacation

Banked Vacation has the meaning specified in Section 5.24(j) of the Agreement.

Banked Vacation means vacation time accrued on Seller's or its Affiliates' records as payable to any Transferred Salaried Employee for which vacation time has not been taken prior to May 31, 1997 and which was earned prior to January 1, 1997. If agreed to by the Unions prior to the Closing, on or promptly after the Closing Date Seller shall pay to each Union Employee any applicable Accrued Union Vacation. If there is no agreement with the Unions prior to the Closing, Seller shall exercise its rights under federal labor law to undertake to provide the benefit referred to in the preceding sentence. "Accrued Union Vacation" shall mean one-half of the vacation time accrued on Seller's or its Affiliate's records as payable to any Union Employee for which vacation time was earned prior to January 1, 1997, but has not been taken prior to May 31, 1997. In addition, Seller shall pay to Purchaser on or promptly after the Closing Date an amount equal to one-half of the aggregate vacation time accrued but not taken by the Transferred Salaried Employees and the Union Employees from January 1, 1997 until May 31, 1997.

Banked Vacation means vacation time accrued on Contributor's records as payable to any Salaried Employee who becomes a Partnership Employee for which vacation time has not been taken prior to January 2, 1999.

Banked Vacation means vacation time accrued on the Contributor's records as payable to any Partnership Employee who is a Non-Union Employee for which vacation time has not been taken for the period prior to January 1, 1982, 1986 or 1988, as appropriate for such Partnership Employee. "Carryover Vacation" shall mean vacation time which (a) is not Banked Vacation; (b) has been accrued on the Contributor's records as payable and approved by designated personnel for any Partnership Employee who is a Non-Union Employee; and (c) such vacation time has not been taken prior to the Expiration Date and which was earned for any period prior to January 1, 1998.