Common use of ACCRUAL OF PAID TIME OFF Clause in Contracts

ACCRUAL OF PAID TIME OFF. Paid time off benefits will be paid out as follows: Permanent full-time employees will earn paid time off at the rate of twenty-four (24) days (192 hours) per year, accruing from the first day of initial work. Employees shall not be allowed to take paid time off during the probationary period unless authorized by the Chief Executive Officer. Beginning with fourth (4th) anniversary of regular employment, employees shall earn paid time off at the rate of twenty-seven (27) days (216 hours) per year. Employees may not accrue more than 336 hours of unused paid time off at any time except the accrual shall be increased to 480 hours for those employees who are planning a maternity/paternity leave, provided that the Payroll Department is notified by the employee, in writing, when the employee or spouse or domestic partner becomes pregnant. The increased amount of PTO hours may be used only for maternity/paternity leaves. Any unused accrued paid time-off in excess of this limitation shall be forfeited, unless prior approval is given by the Executive Director for excess accruals based upon the Employer’s needs.