Common use of Compensatory Time Cash Out Clause in Contracts

Compensatory Time Cash Out. If compensation is paid to an employee for accrued compensatory time, such compensation shall be paid at the regular rate earned by the employee at the time the employee receives such payment. All compensatory time must be used by June 30th of each year. The employee’s compensatory time balance will be cashed out every June 30th or when the employee leaves University employment for any reason. The employee’s compensatory time balance may be cashed out when the employee:

Compensatory Time Cash Out. 12 If compensation is paid to an employee for accrued compensatory time, such 13 compensation shall be paid at the regular rate earned by the employee at the time 14 the employee receives such payment. 16 All compensatory time must be used by June 30th of each year, however if the. 17 balance exceeds 240 hours prior to June 30th, the excess amount will be cashed out 18 to bring the balance back to 240 hours. The employee’s compensatory time balance 19 will be cashed out to zero every June 30th or when the employee leaves University 20 employment for any reason. The employee’s compensatory time balance may be 21 cashed out when the employee: