Common use of Maximum Accumulation Clause in Contracts

Maximum Accumulation. On December 1st each year a computation will be made to determine the number of accumulated vacation days for each employee. Any employee who has accumulated more than two hundred forty (240) hours of vacation shall be paid for all hours in excess of two hundred forty (240) at the rate of pay in effect on December 1st and shall have the number of accumulated vacation days reduced accordingly. All employees are encouraged to use excess vacation hours prior to this time since vacation is meant to allow employees time for rest and relaxation away from their place of employment.

Maximum Accumulation. On December 1st each year a computation will be made to determine the number of accumulated vacation days for each employee. Any employee who has accumulated more than two hundred forty (240) hours of vacation vacation, as of December 1st shall be paid for all hours in excess of two hundred forty (240) at the rate of pay in effect on December 1st and shall have the number of accumulated vacation days reduced accordingly. All employees are encouraged to use excess vacation hours prior to this time since vacation is meant to allow employees time for rest and relaxation away from their place of employment.

Maximum Accumulation. On December 1st each year a computation will be made to determine the number of accumulated vacation days for each employee. Any employee who has accumulated more than two hundred forty (240) hours of vacation shall be paid for all hours in excess of two hundred forty (240) at the rate of pay in effect on December 1st 31 and shall have the number of accumulated vacation days reduced accordingly. All employees are encouraged to use excess vacation hours prior to this time since vacation is meant to allow employees time for rest and relaxation away from their place of employment.

Maximum Accumulation. On December 1st each year a computation will be made to determine the number of accumulated vacation days for each employee. Any employee who has accumulated more than two hundred forty (240) hours of vacation vacation, as of December 1st, shall be paid for all hours in excess of two hundred forty (240) at the rate of pay in effect on December 1st and shall have the number of accumulated vacation days reduced accordingly. All employees are encouraged to use excess vacation hours prior to this time since vacation is meant to allow employees time for rest and relaxation away from their place of employment.