Common use of How PTO is Accrued Clause in Contracts

How PTO is Accrued. Each employee will accrue PTO days on a monthly basis, earning one-twelfth of his/her total allotment on the 16th of each month. Length of service is defined as time from each employee’s date of hire. Length of Service (As of date of hire) Monthly Accrual Annual Allocation Less than 5 years 1.667 days 20 days or 160 hours 5 years but fewer than 10 years 1.833 days 22 days or 176 hours 10 years but fewer than 15 years 2.0 days 24 days or 192 hours 15 years but fewer than 20 years 2.167 days 26 days or 208 hours 20 years but fewer than 25 years 2.333 days 28 days or 224 hours 25 years or more 2.5 days 30 days or 240 hours