Borrow, Carryover and Purchase Vacation Sample Clauses

Borrow, Carryover and Purchase Vacation. Subject to Management’s approval, employees may be authorized to borrow, carryover, or purchase vacation. Borrow Vacation: Employees may borrow up to five days (40 hours) of vacation from the next calendar year or during the calendar year, before they have actually met the service requirement and have earned the vacation. Employees who terminate employment (including retiring) before meeting the service milestone necessary to have earned their borrowed vacation are required to pay for the vacation at termination. The required amount will be deducted from the final paycheck. Carryover Vacation: Employees may carryover up to five days (40 hours of vacation to the next calendar year. At year-end, vacation payment, in lieu of taking vacation, at management’s request, will not be approved until the maximum five-day vacation carryover is used. Purchase Vacation: Employees may purchase up to five days (40 hours) of vacation during a calendar year. Purchase vacation is processed as a “no pay” situation in the pay period in which the Purchased Vacation falls. Management retains the authority to alter, amend, modify or terminate Section XI, 8. and any such change will not be subject to the grievance procedure. To the extent that such action affect the eligibility of IUE/CWA represented employees, the IUE/CWA shall be provided notice of any such change prior to its implementation.
Sample 1
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Related to Borrow, Carryover and Purchase Vacation

  • Vacation Carryover (a) A regular employee may carry over up to 10 days' vacation leave per year. Vacation carryover will not exceed 10 days at any time. An employee will not receive pay in lieu of vacation time, except upon retirement or termination, or as requested by the employee in Clause 18.13 (Vacation Payout).

  • Carryover Notwithstanding any other provision of this Section 6, no adjustment shall be made to the number of shares of Common Stock to be delivered to the Warrantholder (or to the Exercise Price) if such adjustment represents less than 1% of the number of shares to be so delivered, but any lesser adjustment shall be carried forward and shall be made at the time and together with the next subsequent adjustment which together with any adjustments so carried forward shall amount to 1% or more of the number of shares to be so delivered.

  • Maximum Vacation Accrual Employees may accrue vacation up to a maximum of two hundred forty (240) hours. An employee who has reached the maximum accrual level may continue to accrue vacation until his or her next anniversary date, at which time any vacation accrued in addition to the two hundred forty (240) hour maximum accrual will be extinguished. With the written approval of the appropriate Vice President, an employee may accrue more than two hundred forty (240) hours of vacation when he or she is precluded from taking a previously scheduled vacation because of University needs. Any such written approval will specify a timeline for the employee to use any excess vacation accrual, after which any excess vacation accrual will be extinguished.

  • Call Back From Vacation (a) Employees who have commenced their annual vacation shall not be called back to work, except in cases of extreme emergency.

  • Vacation Accrual Rates Laid off employees who are re-employed shall have the vacation accrual rate they held immediately prior to layoff restored.

  • SECTION 4 - VACATION 4.1 Employee shall be entitled to accrue and take vacation leave in accordance with the policy applicable to employees of Manitoba.

  • Salary Step Advancement No period of unpaid leave shall be counted toward time served for purposes of salary step advancement. Completion of at least 75% of the assigned work year for the employee in a paid status is a prerequisite to salary advancement.

  • Vacation Accumulation (a) Vacations are not cumulative from year to year.

  • Vacation Accrual Regular employees shall accrue hours of vacation with pay for each hour of compensation to a maximum of eighty (80) hours per biweekly work period according to the following schedule, commencing with the employee's hire date of his latest period of County employment.

  • Compensation for Holidays Falling Within Vacation Schedule If a paid holiday falls on or is observed during an employee's vacation period, he/she shall be allowed an additional vacation day with pay at a time mutually agreed upon by the Employer and employee.

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