Vacation Pay in Lieu Sample Clauses

The "Vacation Pay in Lieu" clause allows employees to receive monetary compensation instead of taking time off for vacation. In practice, this means that rather than using accrued vacation days for leave, an employee can opt to be paid the equivalent value of those days as additional wages. This clause is commonly used when an employee is unable to take vacation due to work demands or upon termination of employment. Its core function is to provide flexibility for both employers and employees by ensuring that accrued vacation entitlements are honored, even if time off cannot be taken, thereby preventing loss of earned benefits.
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Vacation Pay in Lieu. Employees may request to sell up to, but not to exceed, one-half of their current annual vacation plus vacation carried over from the previous calendar year in whole hour increments, subject to approval by the Company at its sole discretion.
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Vacation Pay in Lieu. If a regular full time employee works or receives paid leave from the Employer for less than 1,525 hours in the vacation year, they will receive vacation pay based on a percentage of gross salary for work performed on the following basis: Two (2) week entitlement - 4% Three (3) week entitlement - 6% Four (4) week entitlement - 8% Five (5) week entitlement - 10% Six (6) week entitlement - 12% Seven (7) week entitlement - 14% This clause is also to apply to an employee who is on Workers’ Compensation and Workers’ Compensation shall be considered paid leave.
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Vacation Pay in Lieu. Employees must take a minimum of two (2) weeks vacation as time off during each vacation year.
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Vacation Pay in Lieu. Employees must take a minimum of two(2) weeks vacation as time off during each vacation year .
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Related to Vacation Pay in Lieu

  • Vacation Payout Where an employee requests in writing to have a specific number of vacation days paid out, and the Employer agrees to the request, the Employer will issue pay in lieu of vacation. Pay in lieu of vacation, if agreed, will be granted only after a minimum of 15 days' vacation time has already been taken in the year.

  • Vacation Pay Paid Union leaves. All other payments, premiums, allowances etc. are excluded.

  • Vacation Bonus Employees shall receive one day's base pay (or adjusted earnings) for each year of service beyond twenty-five (25) years, to a maximum of ten (10) days’ pay.

  • Compensation & Payment 8.4.1. Should the claim be found proven; settlement is executed only in the form of compensation payment added to the Client trade account. 8.4.2. Compensation shall not compensate the profit not received by the Client in the event that the Client had an intention to perform some action but has not performed it for some reason. 8.4.3. The Company shall not compensate non-pecuniary damage to the Client. 8.4.4. The Company adds a compensation payment to the Client trading account within one working day since the moment of making a positive decision on the dispute situation.

  • Vacation Benefits During the Term, the Executive shall be eligible for 20 vacation days annually, which shall be accrued and used in accordance with the applicable policies of the Company. During the Term, the Executive shall be eligible to participate in such medical, dental and life insurance, retirement and other plans as the Company may have or establish from time to time on terms and conditions applicable to other senior executives of the Company generally. The foregoing, however, shall not be construed to require the Company to establish any such plans or to prevent the modification or termination of such plans once established.