Compensation for use of accrued Sample Clauses

The "Compensation for use of accrued" clause defines how an individual or party is compensated for the use of benefits, rights, or assets that have accumulated over time, such as paid leave, bonuses, or intellectual property. Typically, this clause outlines the calculation method for determining the value of the accrued item and specifies the timing and manner of payment or reimbursement. Its core practical function is to ensure fair and transparent compensation for accrued entitlements, preventing disputes over the value or timing of such payments.
Compensation for use of accrued vacation shall be at the employee's prevailing straight rate of pay.
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Compensation for use of accrued vacation shall be at the employee’s prevailing straight-time rate of pay. Section 4. In the event of termination or layoff any unused vacation shall be paid to the employee. Section 5. In the event of an employee’s death, all monies due to the employee for accumulated vacation and salary shall be paid as provided by law. Section 6. An employee who has lost work because of a job-related illness or injury shall not suffer a reduction in vacation credits. Vacation credits shall continue to be earned while an employee is using earned sick leave. Section 7. Service with a jury shall be considered time worked. Section 8. If an employee has a break in service and that break does not exceed two (2) years, the employee shall be given credit for the time worked prior to the break in service. Section 9. Time spent in actual service or on Peace Corps, military, educational or job- incurred disability leave without pay shall be considered as time in service for determining length of service for vacation accrual rate. Section 10. Vacation hours may accumulate to a maximum of 250 hours.
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Compensation for use of accrued vacation shall be at the employee’s
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Compensation for use of accrued vacation shall be at the employee’s prevailing straight-time rate of pay. Section 4. In the event of termination or layoff, any unused vacation shall be paid to the employee. Section 5. In the event of an employee’s death, all monies due them for accumulated vacation and salary shall be paid as provided by law. Section 6. An employee who has lost work because of a job-related illness or injury shall not suffer a reduction in vacation credits. Vacation credits shall continue to be earned while an employee is using earned sick leave. Section 7. Service with a jury shall be considered time worked. Section 8. If an employee has a break in service and that break does not exceed two (2) years, they shall be given credit for the time worked prior to the break in service. Officers who are employed prior to ratification of the first contract shall be given credit for the time worked. Section 9. Time spent in actual service or on Peace Corps, military, or job- incurred disability leave without pay shall be considered as time in service for determining length of service for vacation accrual rate. Section 10. Vacation hours may accumulate to a maximum of 250 hours. Section 11. Should an employee who has exhausted earned sick leave elect to use vacation leave during a period in which Workers’ Compensation is being received, the salary paid for such period shall be equal to the difference between the Workers’ Compensation for lost time and the employee’s regular salary rate. In such instances, prorated charges will be made against accrued vacation leave. Section 12. After all earned sick leave has been exhausted, an employee may request, in cases of illness, to use earned vacation leave. The University may grant such requests and may require that the employee provide verification from an attending physician of such illness. Such leave shall not be unreasonably denied. Section 13. Employees requesting leave without pay shall be required to use accrued vacation leave first except: (A) Bargaining unit members may not be required to take vacation when leaving for military or reserve service as per Title 38, USC Chapter 43 or when taking leave for criminal proceedings in accordance with Article 43 – Leaves of Absence without Pay, Section 4(H).
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Compensation for use of accrued vacation shall be at the officer’s prevailing straight-time rate of pay. Section 4. In the event of termination or layoff, any unused vacation shall be paid to the police officer. Section 5. In the event of a police officer’s death, all monies due them for accumulated vacation and salary shall be paid as provided by law. Section 6. A police officer who has lost work because of a job-related illness or injury shall not suffer a reduction in vacation credits. Vacation credits shall continue to be earned while an officer is using earned sick leave. Section 7. Service with a jury shall be considered time worked. Section 8. If a police officer has a break in service and that break does not exceed two
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Related to Compensation for use of accrued

  • Compensation for Overtime Assigned overtime is designated as those hours over the regular hours of work which are requested of the employee by management. Assigned overtime worked shall be paid at the rate of time and one-half (1 1/2).

  • HOLIDAY COMPENSATION FOR TIME WORKED 111. Employees required by their respective appointing officers to work on any of the above designated or observed holidays, excepting Fridays observed as holidays in lieu of holidays falling on Saturday, shall be paid extra compensation of one additional ▇▇▇'s pay at time-and-one-half the usual rate (i.e. 12 hours pay for 8 hours worked) or a proportionate amount for less than 8 hours worked. At the employee's request and with the approval of the appointing officer, an employee may be granted compensatory time off in lieu of paid overtime pursuant to the provisions herein. 112. Executive, administrative and professional employees designated in the Annual Salary Ordinance with the "Z" symbol shall not receive extra compensation for holiday work but may be granted time off equivalent to the time worked at the rate of one-and-one- half times for work on the holiday.

  • COMPENSATION OF ULTIMUS The Trust, on behalf of each Fund, shall pay for the services to be provided by Ultimus under this Agreement in accordance with, and in the manner set forth in, Schedule B attached hereto, as such Schedule may be amended from time to time. If this Agreement becomes effective subsequent to the first day of a month or terminates before the last day of a month, Ultimus’ compensation for that part of the month in which the Agreement is in effect shall be prorated in a manner consistent with the calculation of the fees as set forth above. Payment of Ultimus’ compensation for the preceding month shall be made promptly.

  • Payment of Compensation Consultant shall submit to City a monthly itemized statement which indicates work completed and hours of Services rendered by Consultant. The statement shall describe the amount of Services and supplies provided since the initial commencement date, or since the start of the subsequent billing periods, as appropriate, through the date of the statement. City shall, within 30 days of receiving such statement, review the statement and pay all approved charges thereon.

  • Compensation for Damages (1) If the Principal has disqualified the Bidder(s) from the tender process prior to the award according to Section 3, the Principal is entitled to demand and recover the damages equivalent to ▇▇▇▇▇▇▇ Money Deposit/Bid Security. (2) If the Principal has terminated the contract according to Section 3, or if the Principal is entitled to terminate the contract according to Section 3, the Principal shall be entitled to demand and recover from the Contractor liquidated damages of the Contract value or the amount equivalent to Performance Bank Guarantee.