Common use of Sick Leave Annual Cash Out Clause in Contracts

Sick Leave Annual Cash Out. Each January an employee is eligible to receive cash on a one (1) hour for four (4) hours basis for ninety-six (96) hours or less of their accrued sick leave, if: The employee’s sick leave balance at the end of the previous calendar year exceeds four hundred eighty (480) hours; The converted sick leave hours do not reduce their previous calendar year sick leave balance below four hundred eighty (480) hours; and The employee notifies the payroll office by January 31st that they would like to convert sick leave hours earned during the previous calendar year, minus any sick leave hours used during the previous year, to cash. All converted hours will be deducted from the employee’s sick leave balance.

Sick Leave Annual Cash Out. Each January an employee is eligible to receive cash on a one (1) hour for four (4) hours basis for ninety-six (96) hours or less of their accrued sick leave, if: The employee’s sick leave balance at the end of the previous calendar year exceeds four hundred eighty (480) hours; The converted sick leave hours do not reduce their previous calendar year sick leave balance below four hundred eighty (480) hours; and The employee notifies the payroll office by January 31st that they would like to convert sick leave hours earned during the previous calendar year, minus any sick leave hours used during the previous year, to cash. All converted hours will be deducted from the employee’s sick leave balance.

Sick Leave Annual Cash Out. Each January an employee is eligible to receive cash on a one (1) hour for four (4) hours basis for ninety-six (96) hours or less of their his or her accrued sick leave, if: The employee’s His or her sick leave balance at the end of the previous calendar year exceeds four hundred eighty (480) hours; The converted sick leave hours do not reduce their his or her previous calendar year sick leave balance below four hundred eighty (480) hours; and The employee notifies the his or her payroll office by January 31st that they he or she would like to convert sick leave hours earned during the previous calendar year, minus any sick leave hours used during the previous year, to cash. All converted hours will be deducted from the employee’s sick leave balance.