Surrender of Unused Days Clause Samples

The 'Surrender of Unused Days' clause defines the process by which a party relinquishes rights to days that were allocated but not utilized, such as in a lease or service agreement. Typically, this clause outlines the conditions under which unused days must be reported or surrendered, and may specify whether any refund, credit, or penalty applies for the days not used. Its core practical function is to ensure clarity and fairness in handling unused time allocations, preventing disputes and allowing the provider to reallocate or resell the unused days.
Surrender of Unused Days. On an annual basis, each principal who has completed at least three years of service to the District may surrender a combination of up to 15 days of unused sick leave and floating holidays. In return for those days the individuals will receive their daily rate of pay times the number of surrendered days as a direct salary payment from July 1 through July 15 of the following year or as a payment into an investment(s) of the employee’s choice, including the District approved Health Care Savings Plan.
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Surrender of Unused Days. On an annual basis, each supervisor who has completed at least three (3) years of service to the District may surrender a combination of up to
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Surrender of Unused Days. On an annual basis, each principal hired on or before October 1, 2022 who has completed at least three years of service to the District may surrender a combination of up to 15 days of unused sick leave and floating holidays. In return for those days the individuals will receive their daily rate of pay times the number of surrendered days as a direct salary payment from July 1 through July 15 of the following year or as a payment into an investment(s) of the employee’s choice, including the District approved Health Care Savings Plan. On an annual basis, each principal after October 1, 2022 who has completed at least three years of service to the District may surrender a combination of up to 5 days of floating holidays. In return for those days the individuals will receive their daily rate of pay times the number of surrendered days as a direct salary payment from July 1 through July 15 of the following year or as a payment into an investment(s) of the employee’s choice, including the District approved Health Care Savings Plan.
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Surrender of Unused Days. On a monthly basis, the Superintendent may surrender unused sick leave, vacation, and floating holidays. In return for those days the Superintendent will receive his daily rate of pay times the number of days surrendered. Only days earned subsequent to July 1, 2003 shall be considered for this surrender provision.
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Surrender of Unused Days. On an annual basis, each principal hired on or before October 1, 2022 who has completed at least three years of service to the District may surrender a combination of up to 15 days of unused sick leave and floating holidays. In return for those days the individuals will receive their daily rate of pay times the number of surrendered days as a direct salary payment from July 1 through July 15 of the following year or as a payment into an investment(s) of the employee’s choice, including the District approved Health Care Savings Plan. The election to surrender accumulated sick leave and/or floating holiday must be made prior to the accrual of the sick leave or floating holiday (July 1st of the year of direct salary payment) and is irrevocable during that period and therefore may not be rescinded or changed. On an annual basis, each principal after October 1, 2022 who has completed at least three years of service to the District may surrender a combination of up to 5 days of floating holidays. In return for those days the individuals will receive their daily rate of pay times the number of surrendered days as a direct salary payment from July 1 through July 15 of the following year or as a payment into an investment(s) of the employee’s choice, including the District approved Health Care Savings Plan. The election to surrender floating holiday must be made prior to the accrual of the floating holiday (July 1st of the year of direct salary payment) and is irrevocable during that period and therefore may not be rescinded or changed.
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Surrender of Unused Days. On an annual basis, each principal who has completed at least three years of service to the District may surrender a combination of up to 15 days of unused sick leave and floating holidays. In return for those days the individuals will receive their daily rate of pay times the number of surrendered days as a direct salary payment from July 1 through July 15 of the following year or as a payment into an investment(s) of the employee’s choice, including the District approved Health Care Savings Plan. Subd. 1. For the 2011-12 school year only, principals may sell up to four (4) sick days in addition to the current contract allowances, back to the district at their daily rate of pay. A principal will less than three (3) years of service may use floating holidays to meet this benefit. Subd. 2. For the 2012-13 school year only, principals may sell up to eight sick days in addition to current contract allowances, back to the district at their daily rate of pay. Payment criteria will be the same as Article IX, Section 9.
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Related to Surrender of Unused Days

  • Holiday Falling on a Day of Rest ‌ (a) When a paid holiday falls on a regular full-time employee's day of rest, the employee shall be entitled to a day off with pay in lieu of the holiday. (b) If a regular full-time employee is called in to work on the day designated as the lieu day pursuant to (a) above, he/she shall be compensated at time and one-half for all hours worked.

  • Holiday Falling on a Scheduled Workday An Employee who works on a designated holiday which is a scheduled workday shall be compensated at the rate of double time for hours worked, plus a day off in lieu of the holiday; except for Christmas and New Year's when the compensation shall be at the rate of double time and one-half (2½) for hours worked, plus a day off subject to this Agreement.

  • Lieu Days Where an employee is granted a lieu day pursuant to Clause 17.3 or 17.4 of this Agreement, the time off granted will be seven (7) hours per lieu day for a full-time employee and prorated for a part-time employee.

  • Effective November 15, 1985 casual part-time nurses will be placed on the salary grid in accordance with their service, such service to be calculated in accordance with the seniority calculation set out in Article

  • WORKING DAY BEFORE AUCTION DATE Any intending bidder who intends to bid on behalf of another person, body corporate or firm is required to deposit with the Auctioneer prior to the auction sale an authority letter to state that he/she is acting on behalf of another person, body corporate or firm and he/she is authorised to sign all the necessary documents. All intending bidders shall be required to verify their identities by showing to the Auctioneer their identity cards prior to the commencement of the auction, failing which, they shall not be entitled to bid. In the event that the Bumiputra lot is sold to a non Bumiputra or if the successful bidder is below the age of 18 or is an undischarged bankrupt or is not legally competent to purchase the property, then such sale shall be cancelled and the deposit paid shall be refunded to the successful bidder and thereafter the Assignee shall be at liberty to put up the property for sale. A foreign citizen/foreign company may be allowed to bid for the property and if the bid is successful, the sale is subject to the foreign citizen/company applying and obtaining at his/her/its own cost to the Economic Planning Unit (if applicable) and/or relevant State Authority for the unconditional consent to the sale within the period stated in Clause 11 hereof but subject to Clause 22 hereof.