Compensatory Time Liquidation in Cash Sample Clauses

Compensatory Time Liquidation in Cash. At the discretion of the Appointing Authority, all or a portion of the compensatory bank may be liquidated in cash.
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Compensatory Time Liquidation in Cash. Once per fiscal year, the Employer may offer the employee the ability to liquidate all or a portion of the compensatory bank with thirty (30) calendar days advance written notice to the Local Union. Such liquidation shall be done in a uniform manner for all employees of the seniority unit. The Appointing Authority and the Local Union may agree in a local meet and confer to uniform liquidation on some basis other than seniority unit. An employee transferring to the service of another Appointing Authority, accepting a position not represented by the Union, separated from State service, or placed on permanent layoff, shall have unused compensatory time paid in cash. Any cash payment of unused compensatory time shall be at the average regular rate of pay received by the employee during the last three (3) years of the employee's employment or their regular rate of pay as of the date of payment, whichever is greater.
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Compensatory Time Liquidation in Cash. At the option of the Appointing Authority, all or a portion of the compensatory bank may be liquidated in cash at the beginning of the pay periods closest to January 1st, April 1st, July 1st and October 1st, with thirty (30) calendar days advance written notice to the Association. Such liquidation shall be done in a uniform manner for all supervisors of the seniority unit. Such liquidation shall be at the supervisor’s then current rate of pay. Immediately upon promotion to a supervisory position assigned to Salary Range 19 or above, the Appointing Authority may liquidate some, all or none of the supervisor’s compensatory bank. A supervisor transferring to the service of another Appointing Authority, accepting a position not represented by the Association, or placed on permanent layoff, shall have unused compensatory time paid in cash at the supervisor’s then current rate of pay. A supervisor placed on seasonal layoff may have unused compensatory time paid in cash, at the option of the supervisor. Payment of unused compensatory time for supervisors separating from State service shall be at the average regular rate of pay received by the supervisor during the last three (3) years of the supervisor's employment or his/her regular rate of pay as of the date of payment, whichever is greater.
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Compensatory Time Liquidation in Cash. At the option of the Appointing Authority, all or a portion of the compensatory bank may be liquidated in cash two (2) times a fiscal year, with thirty (30) calendar days advance written notice to the Local Union. Such liquidation shall be done in a uniform manner for all employees of the seniority unit. The Appointing Authority and the Local Union may agree in a local meet and confer to uniform liquidation on some basis other than seniority unit. An employee transferring to the service of another Appointing Authority, accepting a position not represented by the Union, separated from State service, or placed on permanent layoff, shall have unused compensatory time paid in cash. An employee placed on seasonal layoff may have unused compensatory time paid in cash, at the option of the employee. Any cash payment of unused compensatory time shall be at the average regular rate of pay received by the employee during the last three (3) years of the employee's employment or his/her regular rate of pay as of the date of payment, whichever is greater.
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Compensatory Time Liquidation in Cash. At the option of the Appointing Authority, all or a portion of the compensatory bank may be liquidated in cash on June 30 in the first year of the contract and/or on June 30 of the second year of the contract. However, employees shall have the option of carrying over a maximum of fifty (50) hours of their compensatory bank to the next fiscal year. An employee transferring to the service of another Appointing Authority, accepting a position not represented by the Union, separated from State service, or placed on permanent layoff, shall have unused compensatory time paid in cash. An employee placed on seasonal layoff may have unused compensatory time paid in cash, at the option of the employee. Any cash payment of unused compensatory time shall be at the average regular rate of pay received by the employee during the last three (3) years of the employee's employment or his/her regular rate of pay as of the date of payment, whichever is greater.
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Compensatory Time Liquidation in Cash. 1 At the option of the Appointing Authority, all or a portion of the compensatory bank may be 2 liquidated in cash on June 30 in the first year of the contract and/or on June 30 of the second 3 year of the contract. However, employees shall have the option of carrying over a maximum of 4 fifty (50) hours of their compensatory bank to the next fiscal year. 6 An employee transferring to the service of another Appointing Authority, accepting a position 7 not represented by the Union, separated from State service, or placed on permanent layoff, 8 shall have unused compensatory time paid in cash. An employee placed on seasonal layoff 9 may have unused compensatory time paid in cash, at the option of the employee. 11 Any cash payment of unused compensatory time shall be at the average regular rate of pay 12 received by the employee during the last three (3) years of the employee's employment or 13 his/her regular rate of pay as of the date of payment, whichever is greater.
Sample 1
Compensatory Time Liquidation in Cash. At the option of the Appointing Authority, all or a 5 portion of the compensatory bank may be liquidated in cash two (2) times a fiscal year, with 6 thirty (30) calendar days advance written notice to the Local Union. Such liquidation shall be
Sample 1
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Compensatory Time Liquidation in Cash. Once per fiscal year, the Employer may offer the 4 employee the ability to liquidate all or a portion of the compensatory bank with thirty (30) 5 calendar days advance written notice to the Local Union. Such liquidation shall be done in a 6 uniform manner for all employees of the seniority unit. The Appointing Authority and the 7 Local Union may agree in a local meet and confer to uniform liquidation on some basis 8 other than seniority unit.
Sample 1
Compensatory Time Liquidation in Cash. Once per fiscal year, the Employer may offer the 17 employee the ability to liquidate all or a portion of the compensatory bank with thirty (30) 18 calendar days advance written notice to the Local Union. Such liquidation shall be done in a 19 uniform manner for all employees of the seniority unit. The Appointing Authority and the Local 20 Union may agree in a local meet and confer to uniform liquidation on some basis other than 21 seniority unit. 23 An employee transferring to the service of another Appointing Authority, accepting a position 24 not represented by the Union, separated from State service, or placed on permanent layoff, 25 shall have unused compensatory time paid in cash. 1 Any cash payment of unused compensatory time shall be at the average regular rate of pay 2 received by the employee during the last three (3) years of the employee's employment or 3 his/her regular rate of pay as of the date of payment, whichever is greater.
Sample 1

Related to Compensatory Time Liquidation in Cash

  • Compensatory Time Cash Out All compensatory time must be used by June 30th of each year. If compensatory time balances are not scheduled to be used by the employee by April of each year, the supervisor will contact the employee to review their schedule. The employee’s compensatory time balance will be cashed out every June 30th or when the employee:

  • Compensatory Time Off An employee shall have the option to elect to take compensatory time off in lieu of cash compensation for overtime work. Compensatory time off shall be granted within twelve

  • Compensatory Time A Bargaining Unit member may choose to take compensatory time in lieu of overtime compensation if such choice is indicated during the tour of duty in which the overtime is worked. Compensatory time shall be credited to the Bargaining Unit member and accumulated at the rate of one and one-half (1 ½) hours for each overtime hour worked. Each Bargaining Unit member’s compensatory time bank shall be limited in accumulation to a maximum number of two hundred forty (240) hours. Once a Bargaining Unit member has reached the maximum hours of compensatory time as compensation for overtime hours worked, all additional overtime will be paid. The Bargaining Unit member may choose to carry over any balance into the following year. Any balance of compensatory time carried over into the following year shall count towards the two hundred forty (240) hour cap in that year. Compensatory time off must be taken at a time agreeable to the Department and the Bargaining Unit member. Approval for compensatory time off shall not be unreasonably withheld. Compensatory time off should be requested as far in advance as possible but no later than forty eight (48) hours in advance. When Bargaining Unit members request compensatory time off at least 45 calendar days in advance, the employer will, within five (5) working days of the request being made, notify the member whether or not his/her request has been approved. Approval for compensatory time shall not be unreasonably withheld. As soon as the employer notifies the member that his/her request has been approved, and if the employer determines that the shift will be filled, the employer will post the overtime assignment to cover the member’s request. If there are no volunteers to cover this need for overtime, and if the employer determines that the shift will be filled, a mandate to cover the shift will occur no less than seven (7) calendar days in advance of the beginning of the shift that needs to be covered. The employee being mandated will have the lowest number of overtime hours worked and will be notified by a supervisor. In the event the employee being mandated is on an approved leave and cannot be provided seven

  • Qualified Settlement Fund The Administrator shall establish a settlement fund that meets the requirements of a Qualified Settlement Fund (“QSF”) under US Treasury Regulation section 468B-1.

  • Liquidation Rights In the event of any liquidation, dissolution, and winding up of the Partnership under Section 12.4 or a sale, exchange, or other disposition of all or substantially all of the assets of the Partnership, either voluntary or involuntary, the Record Holders of the Series C Preferred Units shall be entitled to receive, out of the assets of the Partnership available for distribution to the Partners or any Assignees, prior and in preference to any distribution of any assets of the Partnership to the Record Holders of any other class or series of Partnership Interests other than the Series B Preferred Units, (i) first, any accumulated and unpaid distributions on the Series C Preferred Units (regardless of whether previously declared) and (ii) then, any positive value in each such holder’s Capital Account in respect of such Series C Preferred Units; provided, however, that so long as any Series B Preferred Units are Outstanding, no liquidating distribution shall be paid or set aside for payment on any Series C Preferred Units unless and until the full amount of the Series B Liquidation Value has been distributed in respect of Outstanding Series B Preferred Units in accordance with Section 5.10(b)(iv). If in the year of such liquidation and winding up, or sale, exchange, or other disposition of all or substantially all of the assets of the Partnership, any such Record Holder’s Capital Account in respect of such Series C Preferred Units is less than the aggregate Series C Base Liquidation Preference of such Series C Preferred Units, then, after the allocations specified in Section 5.10(b)(iv) have been made, but otherwise notwithstanding anything to the contrary contained in this Agreement, and prior to any other allocation pursuant to this Agreement for such year and any distribution pursuant to the preceding sentence, items of gross income and gain shall be allocated to all Unitholders then holding Series C Preferred Units, Pro Rata, until the Capital Account in respect of each Outstanding Series C Preferred Unit is equal to the Series C Base Liquidation Preference (and no other allocation pursuant to this Agreement shall reverse the effect of such allocation). If in the year of such liquidation, dissolution, or winding up any such Record Holder’s Capital Account in respect of such Series C Preferred Units is less than the aggregate Series C Base Liquidation Preference of such Series C Preferred Units after the application of the preceding sentence, then to the extent permitted by applicable law and after making any allocations required under Section 5.10(b)(iv), but otherwise notwithstanding anything to the contrary contained in this Agreement, items of gross income and gain for any preceding taxable period(s) with respect to which IRS Form 1065 Schedules K-1 have not been filed by the Partnership shall be reallocated to all Unitholders then holding Series C Preferred Units, Pro Rata, until the Capital Account in respect of each such Outstanding Series C Preferred Unit after making allocations pursuant to this and the immediately preceding sentence is equal to the Series C Base Liquidation Preference (and no other allocation pursuant to this Agreement shall reverse the effect of such allocation). After such allocations have been made to the Outstanding Series C Preferred Units, any remaining Net Termination Gain or Net Termination Loss shall be allocated to the Partners pursuant to Section 6.1(c) or Section 6.1(d), as the case may be. At the time of the dissolution of the Partnership, subject to Section 17-804 of the Delaware Act, the Record Holders of the Series C Preferred Units shall become entitled to receive any distributions in respect of the Series C Preferred Units that are accrued and unpaid as of the date of such distribution, and shall have the status of, and shall be entitled to all remedies available to, a creditor of the Partnership, and such entitlement of the Record Holders of the Series C Preferred Units to such accrued and unpaid distributions shall have priority over any entitlement of any other Partners or Assignees with respect to any distributions by the Partnership to such other Partners or Assignees except for distributions in respect of Series B Preferred Units pursuant to Section 5.10(b)(iv); provided, however, that the General Partner, as such, will have no liability for any obligations with respect to such distributions to any Record Holder(s) of Series C Preferred Units.

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