Attendance Incentive Program - Annual Conversion Clause Samples

The Attendance Incentive Program - Annual Conversion clause establishes a process by which employees can convert unused sick leave or other eligible leave balances into a cash payment or other benefits at the end of each year. Typically, this clause outlines the criteria for eligibility, such as a minimum balance of unused leave, and specifies the conversion rate or method for calculating the incentive. Its core practical function is to reward employees for consistent attendance and to reduce the accumulation of unused leave liabilities for the employer.
Attendance Incentive Program - Annual Conversion. Provided that RCW 28A.400.210 is valid and in effect, any employee who at the end of the calendar year shall have accumulated in excess of sixty (60) days of unused sick leave may elect to convert unused sick leave earned the previous year in excess of sixty (60) days to monetary compensation at the rate of twenty-five percent (25%) of the employee's current, regular daily rate of compensation for each full day of eligible sick leave. Any such election shall be made by written notice to the Employer payroll officer during the month of January. Any such annual conversion of accumulated sick leave shall be subject to the terms and limitations of applicable regulations. The goal of this program is to reduce absenteeism. Accordingly, continuation of this provision shall be subject to evidence that the program is cost effective.
View SourceView Similar (11)
Attendance Incentive Program - Annual Conversion. 46 Provided that RCW 28A.400.210 is valid and in effect, any employee who at the end of 47 the calendar year shall have accumulated in excess of sixty (60) days of unused sick 48 leave may elect to convert unused sick leave earned the previous year in excess of sixty 1 (60) days to monetary compensation at the rate of twenty-five percent (25%) of the 2 employee's current, regular daily rate of compensation for each full day of eligible sick 3 leave. Any such election shall be made by written notice to the Human Resources 4 Manager during the month of January. Any such annual conversion of accumulated 5 sick leave shall be subject to the terms and limitations of applicable regulations.
View SourceView Similar (4)

Related to Attendance Incentive Program - Annual Conversion

  • Attendance Incentive Program In January of the year following any year in which a minimum of sixty (60) days of leave for illness or injury is accrued, and each January thereafter, any eligible employee may exercise an option to receive remuneration for unused leave for illness or injury accumulated in the previous year at a rate equal to one (1) day of monetary compensation of the employee for each four (4) full days of accrued leave for illness or injury in excess of sixty (60) days. Leave for illness or injury for which compensation has been received shall be deducted from accrued leave for illness or injury at the rate of four (4) days for every one (1) day of monetary compensation; provided, however, no employee shall receive compensation under this section for any portion of leave for illness or injury accumulated at a rate in excess of one (1) day per month. At the time of separation from school district employment due to retirement or death an eligible employee or the employee's estate shall receive remuneration at a rate equal to one (1) day of current monetary compensation of the employee for each four (4) full days accrued leave for illness or injury. The provisions of this section shall be administered in accordance with state law and applicable state rules and regulations. Should the legislature revoke any benefits granted under this section, no affected employee shall be entitled thereafter to receive such benefits as matter of contractual right.

  • Attendance Incentive It is the desire of both the Employer and the Union to provide consistent quality bus service for all students. It is also a mutual desire to have qualified permanent District bus drivers available to drive all identified bus routes. Based on this mutual interest, the parties agree to this Attendance Incentive program during the life of the Agreement:

  • Performance Incentive 4.10.1 If the Seller delivers Coal to the Purchaser in excess of ninety percent (90%) of the ACQ in a particular Year, the Purchaser shall pay the Seller an incentive (“Performance Incentive”/ “PI”), to be determined as follows: PI = P x Additional Deliveries x Multiplier Where: PI = The Performance Incentive payable by the Purchaser to the Seller P = The Base Price of Highest Grade, as shown in Schedule II Additional Deliveries = Quantity [in tonnes] of Coal delivered by the Seller in the relevant Year in excess of 90% of the ACQ. Multiplier shall be 0.15 for Additional Deliveries between 90%-95% of ACQ and 0.30 for Additional Deliveries in excess of 95% of ACQ. 4.10.2 With respect to part of a Year in which the term of this Agreement begins or ends, the relevant quantities in Clause 4.10.1, except the Multiplier, shall apply pro-rata. 4.10.3 Within thirty (30) days of expiry of a Year, the Seller shall submit an invoice to the Purchaser with respect to the PI payable in terms of Clause 4.10.1 and the Purchaser shall pay the amount so due within thirty (30) days of the receipt of the invoice. In the event of non-payment of PI by the due date, the Seller shall have the right to suspend Coal supplies without absolving the Purchaser of its obligations under this Agreement.

  • Annual Incentive Plan Executive shall be entitled to participate fully in the Company's 1996 Management Incentive Compensation Plan, as amended (the "MICP"), and as may be further amended, modified, or replaced, from time to time, in accordance with the terms and conditions set forth herein and therein.

  • Annual Incentive Payment The Executive shall participate in the Company's Management Incentive Plan (or such alternative, successor, or replacement plan or program in which the Company's principal operating executives, other than the Chief Executive Officer, generally participate) and shall have a targeted incentive thereunder of not less than $240,000 per year; provided, however, that the Executive's actual incentive payment for any year shall be measured by the Company's performance against goals established for that year and that such performance may produce an incentive payment ranging from none to 200% of the targeted amount. The Executive's incentive payment for any year will be appropriately pro-rated to reflect a partial year of employment.