Common use of Banking Vacations Clause in Contracts

Banking Vacations. Employees entitled to four (4) weeks or more vacation will be entitled to bank up to two (2) weeks of vacation for future use subject to the provisions of this Section 6(f). Such an employee may elect to accumulate up to a maximum of two (2) vacation weeks per year to a maximum of six (6) weeks. At least two (2) weeks must be taken as actual xxxx- tion in any one (1) year. Accumulated vacation weeks must be taken not later than three (3) years from the year in which the employee was originally entitled to take them. Accumulated vacation weeks, when taken, will be paid for at the employee’s rate in effect at the time when the employee was originally eligible to take such weeks. Vacation accumu- lation must be in whole weeks of vacations. In the event of an imminent layoff in any job classifica- tion or classifications, employees in such classification or classifications must use their accumulated vacations as directed by management and the practice of accumulating vacation weeks will be temporarily suspended for such classification or classifications. Any employee who resigns or is discharged prior to tak- ing accumulated vacation weeks will receive a cash payment for such weeks based on the employee’s rate of pay in effect at the time the employee was originally eligible to take such weeks. In case of death of an employee prior to taking accu- mulated vacation weeks, a cash payment for such weeks based on the employee’s rate of pay in effect at the time the employee was originally eligible to take such weeks will be paid to the employee’s widow or widower or legal benefici- ary. Payment by the Authority to the person designated by the employee as the beneficiary of the life insurance provid- ed by the Authority shall be a discharge in full of the Authority’s responsibility and provided the Authority has made such payment, no other person shall have a claim against the Authority for such payment; provided, neverthe- less, that if an employee has given the Authority in writing a designation of a different person whom the employee desires to receive such money, the Authority will make the payment to such person designated. Employees entitled to three (3) weeks or more vacation will be entitled to bank one (1) week of vacation for future use subject to all of the provisions set forth above, except that the maximum amount which can be banked will be three

Banking Vacations. Employees entitled to four (4) weeks or more vacation will be entitled to bank up to two (2) weeks of vacation for future use subject to the provisions of this Section 6(f). Such an employee may elect to accumulate up to a maximum max- imum of two (2) vacation weeks per year to a maximum of six (6) weeks. At least two (2) weeks must be taken as actual xxxx- tion vacation in any one (1) year. Accumulated vacation weeks must be taken not later than three (3) years from the year in which the employee was originally entitled to take them. Accumulated vacation xxxx- tion weeks, when taken, will be paid for at the employee’s employ- ee's rate in effect at the time when the employee was originally eligible to take such weeks. Vacation accumu- lation must be in whole weeks of vacations. In the event of an imminent layoff in any job classifica- tion classifi- cation or classifications, employees in such classification or classifications must use their accumulated vacations as directed by management and the practice of accumulating accumu- lating vacation weeks will be temporarily suspended for such classification or classifications. Any employee who resigns or is discharged prior to tak- ing taking accumulated vacation weeks will receive a cash payment for such weeks based on the employee’s 's rate of pay in effect at the time the employee was originally eligible xxx- gible to take such weeks. In case of death of an employee employ- ee prior to taking accu- mulated accumulated vacation weeks, a cash payment for such weeks based on the employee’s 's rate of pay in effect at the time the employee was originally eligible xxx- gible to take such weeks will be paid to the employee’s 's widow or widower or legal benefici- arybeneficiary. Payment by the Authority to the person designated by the employee as the beneficiary of the life insurance provid- ed provided by the Authority shall be a discharge in full of the Authority’s 's responsibility and provided the Authority has made such payment, no other person shall have a claim against the Authority for such payment; provided, neverthe- lessnevertheless, that if an employee has given the Authority in writing a designation des- ignation of a different person whom the employee desires to receive such money, the Authority will make the payment to such person designated. Employees entitled to three (3) weeks or more vacation xxxx- tion will be entitled to bank one (1) week of vacation for future use subject to all of the provisions set forth above, except that the maximum amount which can be banked will be threethree (3) weeks.