Liquidation of Vacation Leave. 31.5.1 Upon application by the employee and at the discretion of the Council, earned but unused Vacation leave credits in excess of one hundred twelve decimal five (112.5) hours, when Schedules 2 (Supervisory) and 1, 2, 4, 5, and 6 (Non- supervisory) of the Pay Schedules apply, or one hundred twenty (120) hours when Schedules 3 (Supervisory) and 3 (Non-supervisory) of the Pay Schedules apply, may be paid at the employee’s daily rate of pay as calculated from the employee’s classification.
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Samples: Renewal and Agreement, Agreement, Agreement