Common use of Annual Conversion Clause in Contracts

Annual Conversion. During December of each year, each member may convert a portion of the member’s accrued but unused Sick Leave to a cash payment subject to all of the following conditions: 1. The member must have a sick leave balance of at least five hundred (500) hours at the end of the first pay period in December; 2. The member must have forty (40) hours or less of sick leave usage for the past 12 months as of the end of the first pay period in December (FMLA protected leave exempted); 3. The member may convert no more than twenty-eight (28) hours of sick leave to pay; 4. Sick leave shall be converted at the rate of one (1) hour of sick leave to one (1) hour of pay at the straight time hourly rate of pay; 5. Once sick leave is converted to pay, it shall not be converted back to sick leave; and, 6. This payment shall be made to the member by separate deposit with the first pay of the following calendar year.

Annual Conversion. During December of each year, each member employee may convert a portion of the member’s his/her accrued but unused Sick Leave to a cash payment subject to all of the following conditions: 1. .) The member employee must have a sick leave balance of at least five hundred (500) hours at the end of the first pay period in December; 2. .) The member employee must have forty (40) hours or less of sick leave usage for the past 12 months as of the end of the first pay period in December (FMLA protected leave exempted); 3. .) The member employee may convert no more than twenty-eight (28) hours of sick leave to pay; 4. .) Sick leave shall be converted at the rate of one (1) hour of sick leave to one one (1) hour of pay at the straight time hourly rate of pay; 5. .) Once sick leave is converted to pay, it shall not be converted back to sick leave; and,. 6. .) This payment shall be made to the member employee by separate deposit check with the first pay of the following calendar year.

Annual Conversion. During the month of December of each eEach year, each member an employee may convert a portion of the memberemployee’s accrued but unused Sick Leave sick leave to a cash payment subject to all of the following conditions: 1. The member employee must have a sick leave balance of at least five seven hundred twenty (500720) hours at the end of the first pay period in December; 2. The member employee must have forty thirty two (4032) hours or less of sick leave usage for the past 12 months as of the end of the first pay period in December (FMLA protected leave exempted); 3. The member employee may convert no more than twenty-eight thirty two (2832) hours of sick leave to pay; 4. Sick leave shall be converted at the rate of one two (12) hour hours of sick leave to one (1) hour of pay at the straight time hourly rate of pay; 5. Once sick leave is has been converted to pay, it shall not be converted back to sick leave; and,; 6. This payment shall be made to the member employee by separate deposit check with the first pay of the following calendar year.