Election of Cash Payments Sample Clauses

Election of Cash Payments. All overtime earned shall be compensated for by time-off or payment. Payment shall be made for any accumulation beyond forty (40) compensatory time hours unless a member chooses to accumulate zero (0) compensatory time hours, eighty (80) compensatory time hours, one hundred twenty (120) compensatory time hours or one hundred sixty (160) compensatory time hours prior to payment. Such selection must be made prior to the start of a fiscal year.
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Election of Cash Payments. All overtime earned shall be compensated for by time-off or payment. A member xxx, at his/her option, receive either cash payment or compensatory time for time worked on a premium basis; however, certain specified overtime assignments funded by outside sources must be cash payments. A member may direct that any overtime worked in a given payperiod be compensated by payment, provided that such direction is given during the pay period in which the overtime is authorized and earned. Payment shall be made for any accumulation beyond forty (40) compensatory time hours unless a member chooses to accumulate zero (0) compensatory time hours, eighty (80) compensatory time hours, one hundred twenty (120) compensatory time hours or one hundred sixty (160) compensatory time hours prior to payment. Such selection must be made prior to the start of a fiscal year. Any member may elect, during September of each year, a cash payment up to one hundred sixty (160) hours from their compensatory time bank to be paid in October. Members shall elect cash payments in increments of 25%, 50%, 75% or 100% of their compensatory time bank, up to the maximum of one hundred and sixty (160) hours. Such election shall not preclude the selection of compensatory time accumulation set forth above.
Sample 1
Election of Cash Payments. All overtime earned shall be compensated for by time-off or payment. Effective with the payperiod that begins March 1, 2015, a A member may, at his/her option, receive either cash payment or compensatory time for time worked on a premium basis; however, certain specified overtime assignments funded by outside sources must be cash payments. A member may direct that any overtime worked in a given payperiod be compensated by payment, provided that such direction is given during the pay period in which the overtime is authorized and earned. Payment shall be made for any accumulation beyond forty (40) compensatory time hours unless a member chooses to accumulate zero (0) compensatory time hours, eighty (80) compensatory time hours, one hundred twenty (120) compensatory time hours or one hundred sixty (160) compensatory time hours prior to payment. Such selection must be made prior to the start of a fiscal year.
Sample 1
Election of Cash Payments. All overtime earned shall be compensated for by time-off or cash payment. The member must make his/her selection of time-off or cash payment at the beginning of the fiscal year of ratification of this contract, on a form designated by the Police Division. Payment in cash shall be made for any accumulation beyond forty (40) hours unless the member chooses to accumulate zero (0) hours, forty (40) hours, eighty (80) hours or one hundred sixty (160) hours. Any compensatory time account balance above eighty (80) hours shall be paid off at the member's hourly rate as of the end of a pay period established by the Appointing Authority.
Sample 1

Related to Election of Cash Payments

  • Cash Payments Merchant may not receive any payments from a Cardholder for charges included in any Transaction resulting from the use of any Card nor receive any payment from a Cardholder to prepare and present a Transaction for the purpose of affecting a deposit to the Cardholder's Card account.

  • Cash Payment The Employee shall make cash payments by wire transfer, certified or bank check or personal check, in each case payable to the order of the Company; the Company shall not be required to deliver certificates for Option Shares until the Company has confirmed the receipt of good and available funds in payment of the purchase price thereof.

  • RETURN OF CAPITAL CONTRIBUTIONS No Partner shall be entitled to withdraw any part of its Capital Contribution or its Capital Account or to receive any distribution from the Partnership, except as specifically provided in this Agreement. Except as otherwise provided herein, there shall be no obligation to return to any Partner or withdrawn Partner any part of such Partner’s Capital Contribution for so long as the Partnership continues in existence.

  • Required Distributions Generally, when you die, designated beneficiary(ies) who are individuals may elect to deplete the Xxxx XXX by the end of the fifth calendar year following your death or to receive payments based on the designated beneficiary(ies)’s life expectancy. If life expectancy payments are elected, the payments must generally begin by December 31 of the first calendar year following your death. If your surviving spouse is your sole designated beneficiary, he or she may delay the first distribution until December 31 of the year you would have attained age 70½, if later. If your designated beneficiary is not an individual or qualified trust (e.g., a charity, your estate, etc.), your Xxxx XXX must be distributed by the end of the fifth calendar year following your death. Generally, each beneficiary may elect the timing and manner regarding the distribution of his or her portion of the Xxxx XXX. Elections must generally be made by December 31 of the year following your death. If timely elections are not made, distributions to designated beneficiaries who are individuals will be made using the life expectancy option. The default provision for designated beneficiaries that are not individuals is the 5-year method. If your beneficiary(ies) fails to withdraw the required amount in any tax year, he or she may be subject to a 50% excess accumulation penalty tax on the amount that should have been withdrawn but was not distributed. If your surviving spouse is the sole designated beneficiary of your Xxxx XXX, he/she may treat your Xxxx XXX as his or her own Xxxx XXX by redesignating your Xxxx XXX as his or her own Xxxx XXX, failing to take a required distribution as a beneficiary, or by making a contribution. Regardless of whether your spouse is your sole designated beneficiary, he or she may roll distributions from your Xxxx XXX into his or her own Xxxx XXX generally within 60 days of receipt. Additional restrictions may apply. CUSTODIAN NOT YOUR ADVISOR UMB Bank, n.a., UMB Distribution Services, LLC, Grand Distributions Services, LLC, and UMB Fund Services, Inc. expressly disclaim any right, duty, authority or responsibility to furnish legal or tax advice relating to your IRA, including but not limited to present or future tax consequences to you or others which may result from the establishment or maintenance of the Custodial Account, the permissible amounts or deductibility of contributions, the effect of withdrawals, the selection of payment options or beneficiaries, any matters pertaining to prohibited transactions, and any other matter whatsoever. You are advised and encouraged to consult with professional counsel of your own selection respecting all such matters.

  • Qualified Distributions Qualified distributions from your Xxxx XXX (both the contributions and earnings) are not included in your income. A qualified distribution is a distribution which is made after the expiration of the five-year period beginning January 1 of the first year for which you made a contribution to any Xxxx XXX (including a conversion from a Traditional IRA), and is made on account of one of the following events. • Attainment of age 59½ • Disability • First-time homebuyer purchase • Death For example, if you made a contribution to your Xxxx XXX for 2007, the five-year period for determining whether a distribution is a qualified distribution is satisfied as of January 1, 2012.

  • Distribution of Financial Contribution The financial contribution of the Funding Authority to the Project shall be distributed by the Coordinator according to: - the Consortium Plan - the approval of reports by the Funding Authority, and - the provisions of payment in Section 7.3. A Party shall be funded only for its tasks carried out in accordance with the Consortium Plan.

  • Payment of Contributions The College and eligible academic staff members shall each contribute one-half of the contributions to the Academic and Administrative Pension Plan.

  • No Right to Demand Return of Capital No Member has any right to any return of capital or other distribution except as expressly provided in this Agreement. No Member has any drawing account in the Company.

  • Capital Contributions and Distributions The Member may make such capital contributions (each a “Capital Contribution”) in such amounts and at such times as the Member shall determine. The Member shall not be obligated to make any Capital Contributions. The Member may take distributions of the capital from time to time in accordance with the limitations imposed by the Statutes.

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