Common use of Maximum Accruals Clause in Contracts

Maximum Accruals. Employees may accumulate unused vacation to any amount provided that once during each fiscal year each employee's accumulation must be reduced to two hundred and seventy-five (275) hours or less. This must be accomplished on or before the last day of the fiscal year. If not, the amount of vacation shall be automatically reduced to two hundred and seventy-five (275) hours at the end of the fiscal year. Employees on a military leave under Article 10 shall earn and accrue vacation leave as though actually employed, without regard to the maximum accumulation set forth above. Vacation earned in excess of two hundred and seventy-five (275) hours shall be taken within two (2) years of the date the employee returns from military leave.

Maximum Accruals. Employees may accumulate unused vacation to any amount provided that once during each fiscal year each employee's accumulation must be reduced to two hundred and seventy-five (275) hours or less. This must be accomplished on or before the last day of the fiscal year. If not, the amount of vacation shall be automatically reduced to two hundred and seventy-seventy- five (275) hours at the end of the fiscal year. Employees on a military leave under Article 10 shall earn and accrue vacation leave as though actually employed, without regard to the maximum accumulation set forth above. Vacation earned in excess of two hundred and seventy-five (275) hours shall be taken within two (2) years of the date the employee returns from military leave.