Rates of Accrual Sample Clauses
The "Rates of Accrual" clause defines how and at what rate certain benefits, obligations, or financial amounts accumulate over time under the agreement. Typically, this clause specifies the percentage or formula used to calculate accruals, such as interest on outstanding balances, vacation days earned by employees, or royalties on sales. By clearly outlining the method and timing of accrual, this clause ensures transparency and predictability for both parties, preventing disputes over how much is owed or earned at any given point.
Rates of Accrual. Each regular full-time employee shall accrue and receive vacation leave based on the following as computed from his/her Hire Date: Through completion of 5 years 8.00 hours More than 5 years through completion of 10 years 10.75 hours More than 10 years through completion of 15 years 12.00 hours More than 15 years through completion of 20 years 13.50 hours More than 20 years completed 16.00 hours When an employee is re-employed from a re-employment list after a break in service resulting from lay-off, such employee shall receive the rate of accrual based on the prior service as if s/he had been on leave without pay.
Rates of Accrual. Vacation leave shall be based on a pro rata share of time worked on a full-time work schedule. Regular permanent part-time employees shall accrue pro rata sick leave based on time worked on less than full-time schedules. Regular, permanent, full-time employees shall accrue vacation leave on an hourly basis equivalent to the following:
Rates of Accrual. Each full-time employee shall accrue vacation at the hourly accrual rate set forth below for actual regular hours worked or while on a paid leave status. Employees on leave of absence without pay, other unpaid status, or on lay-off from the City shall not accrue vacation hours during the period of such absence.
Rates of Accrual. Based upon a pro rata share of a full-time work schedule, vacation leave is earned as follows:
Rates of Accrual. Effective upon ratification between the parties, eligible employees shall receive vacation accruals based upon a pro rata share of a full-time work schedule. Vacation leave is earned as follows:
Rates of Accrual. Paid time off for regular employees is earned as follows: From Date of Hire Through 59th Month: Based on the first day of employment, from the first full month to and including the fifty-ninth (59th) full month of continuous employment, regular employees shall accrue paid time off at the rate of .07538 per compensated straight time hour ( .07538 x 2080 annual hours = 156.79 hours per year).
Rates of Accrual. Effective upon ratification between the parties, vacation accruals are based on the employee's date of hire with the Port. Based upon a pro rata share of a full-time work schedule calculated by an hourly accrual method, vacation leave is earned as follows:
Rates of Accrual. Vacation accruals shall be based on a pro-rata share of a full-time work schedule (compensated time) and shall be computed based on the following hours in a work shift – eight (8) hours for day shift personnel and twelve (12) hours for twenty-four (24) hour shift personnel.
a. Based on the first day of employment from the first full month to and including the thirty-sixth (36th) full month of continuous employment, employees shall accrue vacation as follows: Day shift personnel = .0468 hours per straight-time hour paid (.049 x 2,080 annual hours = 102 hours or 12.75 shifts) 24-Hour personnel = 10 hours per month (10 x 12 months = 120 hours or 5 shifts)
b. From the thirty-seventh (37th) full month to and including the one hundred thirty- second (132nd) full month of continuous employment, employees shall accrue vacation as follows: Day shift personnel = .07 hours per straight-time hours paid (.0736 x 2,080 annual hours = 153 hours or 19.125 shifts) 24-Hour personnel = 15 hours per month (15 x 12 months = 180 hours or 7 ½ shifts)
c. After the completion of eleven (11) years of continuous employment starting with the one hundred thirty-third (133rd) full month, employees shall accrue vacation as follows: Day shift personnel = .0936 hours per straight-time hours paid (.098 x 2,080 annual hours = 204 hours or 25.5 shifts) 24-Hour personnel = 20 hours per month (20 hours x 12 months = 240 hours or 10 shifts)
d. After the completion of fifteen (15) years of continuous employment starting with the one hundred eighty-first (181st) full month, employees shall accrue vacation as follows: Day shift personnel = .1123 hours per straight-time hours paid (.1178 x 2,080 annual hours = 245 hours or 30.625 shifts) 24-Hour personnel = 24 hours per month (24 hours x 12 months = 288 hours or 12 shifts)
Rates of Accrual. In lieu of Holidays, all eligible employees shall receive a pool of hours commensurate with their assignment as of January 1st, of each year. Sergeants assigned to: 10 hour shift: 120 hours 10½ hour shift: 126 hours 12 hour shift: 144 hours
Rates of Accrual. Each full time employee shall accrue vacation at the hourly accrual rate set forth below for actual regular hours worked or while on a paid leave status. Employees on leave of absence without pay, other unpaid status or on lay- off from the City shall not accrue vacation hours during the period of such absence. LENGTH OF SERVICE HOURLY ANNUAL RATE AVERAGE ANNUAL DAYS OF VACATION MAXIMUM ACCUMULATION Less than 5 complete years of service 0.04616 12 days 240 Over 5 but less than 10 complete years of service 0.05769 15 days 240 Over 10 but less than 15 complete years of service 0.06924 18 days 240 Over 15 but less than 20 complete years of service 0.08076 21 days 240 Over 20 complete years of service 0.09231 24 days 360 The Average Annual Days Vacation employees accrue are based on the hourly rate times 2,080 (average hours employees are scheduled to work) and are listed for information only.