PTO Payout definition

PTO Payout. You shall be entitled to receive payment for any unused PTO as of your Termination Date. This payout will be calculated using your annual base salary rate as of June 30, 2018.
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Examples of PTO Payout in a sentence

  • An employee must complete five full years of continuous service to be eligible for a PTO Payout.

  • The employee must submit a written request for PTO Payout to the Human Resources Department prior to the employee’s last day of work or the payout is deemed waived.

  • An employee must submit the request for a PTO Payout in writing to the Human Resources Department by March 20 of the year in which the separation of employment will occur.

  • The PTO Payout, which is equivalent to Executive’s accrued but unused paid time off, shall be paid in a lump sum being made on the Company’s first regular pay day following the date this Agreement takes effect.

  • Such PTO Payout shall be payable by ACH/wire or automatic deposit at Employee’s election.

  • PAID TIME OFF (PTO) 17 14.01 PTO Benefit 17 14.02 PTO Availability 17 14.03 Carryover 17 14.04 Granting Scheduled PTO 17 14.05 PTO on Days adjacent to Holidays 18 14.06 PTO Donation 18 14.07 PTO Payout 18 ARTICLE 15.

  • Executive agrees that his PTO Payout will be $60,332.31, less applicable withholdings.

  • The PTO Payout shall be paid in a single installment, less applicable state, federal and employee directed withholdings on the first payroll date immediately following the Termination Date.