Common use of Banked Vacations Clause in Contracts

Banked Vacations. A. The banking of vacation time will be eliminated effective January 1, 2013. B. Previously banked vacation shall be treated as follows: i. Banked vacation weeks shall be selected from any available remaining vacation time after all current weeks of vacation, day-at-a- time vacation, and personal days/floating holidays have been selected during the normal vacation selection process. ii. Any unused banked vacation time shall be paid out in a lump sum at time of separation from the Company.

Banked Vacations. A. The banking of vacation time will be eliminated effective January 1, 2013. B. Previously banked vacation shall be treated as follows: i. Banked vacation weeks shall be selected from any available remaining vacation time after all current weeks of vacation, day-atat- a-a- time vacation, and personal days/floating holidays have been selected during the normal vacation selection process. ii. Any unused banked vacation time shall be paid out in a lump sum at time of separation from the Company.