LTSB definition
Examples of LTSB in a sentence
Employees that have successfully completed one year of service with the Employer will have a one-time LTSB of 400 hours credited to their account, subject to the provisions provided in this subsection.
An employee utilizing the LTSB will be paid an hourly rate equal to one hundred percent (100%) of the hourly rate in effect at the time said leave commenced.
At no time shall an employee’s LTSB grow to contain more than 1,200 hours.
The LTSB cannot be accessed for any day an employee receives Worker’s Compensation benefits.
Any employee utilizing his/her LTSB shall not be eligible for holiday pay while on said leave.
The LTSB cannot be accessed for any injury resulting from an employee’s employment with another employer.
In the event an employee is utilizing the LTSB, and cannot access his/her unused PTO Bank prior to the annual renewal date, any unused PTO will be automatically added to said employee’s LTSB on an hour for hour basis.
The LTSB can only be used for an employee’s personal illness or injury resulting in an absence from work of five (5) or more consecutive work days, and only so long as the employee provides satisfactory medical evidence to the Employer at such times as the Employer requests.
A paying and conversion agency agreement dated 1 December 2009 (as amended or supplemented from time to time, the “Agency Agreement”) has been entered into in relation to the ECNs between the Issuers, LBG, LTSB, the Trustee, The Bank of New York Mellon (Luxembourg) S.A. as registrar, The Bank of New York Mellon (Luxembourg) S.A. as transfer agent, The Bank of New York Mellon as issuing, paying and conversion agent and calculation agent and the other paying and conversion agents named in it.
If an employee has completed ten (10) or more years of service with the City of Springfield and has more than 400 hours in his/her LTSB he/she shall be eligible to receive a payment for any hours in excess of 400 at 75% of his/her hourly rate at the time of his/her separation from the employer for any reason.