How is Leave Credits defined in a legal contract?
- Leave Credits means earned yet unused termination leave, sabbatical leave, personal and legal holiday time, and anticipated or earned but unused annual leave. Leave Credits do not include sick leave credits or compensatory time off credits. Seen in 4 SEC filings.
- Leave Credits means the leave entitlement earned by an employee based on the employee's regular hours of work to a maximum of [number] hours per day. Seen in 3 SEC filings.
- Leave Credits means vacation, vacation carryover, personal holiday, accrued legal holiday or floating legal holiday, and leave in a paid leave bank. Leave Credits do not include sick leave or compensatory time off credits. Seen in 2 SEC filings.
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- Leave Credits means earned but unused personal, legal holiday, sabbatical, termination, or annual leave, excluding sick leave and time off compensation.
Relevant Contract Types
Relevant Circumstances
- Hiring of new employee
- Contract renewal period
- Period of sabbatical or vacation
Relevant Sectors
Genie Definition 2
- Leave Credits means a leave entitlement earned based on an employee's regular working hours, up to a daily maximum of [number].
Relevant Contract Types
Relevant Circumstances
- Hiring of part-time employee
- Adjusting work hours or schedules
Relevant Sectors
Genie Definition 3
- Leave Credits means accrued entitlements such as vacation and floating legal holiday time stored in a paid leave bank, excluding sick leave and time off compensation.
Relevant Contract Types
Relevant Circumstances
- Hiring on a zero-hour or casual basis
- Adjusting terms of casual or zero-hour contracts
Relevant Sectors
Leave Credits means earned but unused personal, legal holiday, sabbatical, termination, or annual leave, excluding sick leave and time off compensation
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