Accumulation of Holidays. Should the employee not use his accrued holiday hours by the end of the fiscal year of accrual, the employee may, at the employee’s sole option, accumulate the holiday time to which the employee is entitled and such time so accumulated may be taken as compensatory time off. As an alternative, the employee may be paid by the City, at the employee’s current rate of pay, in lieu of time off, provided, however that accumulation for sell back of holiday hours shall not be more than eighty (80) hours in any year. Employee holiday accumulation shall be capped at one hundred (100) hours. Any employee, who has reached the cap, shall receive holiday pay in the pay period in which it was earned. Payment to the employee shall be an option exercised only by the employee by written notification of the employee’s intention to exercise his right to be paid for accumulated holiday time. An employee may sell back accumulated hours twice a year on the same schedule as comp time.
Accumulation of Holidays. Employees shall be allowed to accumulate a maximum of six (6) holidays for use at a later time, such time to be scheduled by mutual agreement between the Employer and the employee.
