Common use of Maximum Carryover Clause in Contracts

Maximum Carryover. Each employee may carry over a maximum of the prior year's accrual into the next fiscal year. On July 1 of each year any accumulated vacation time in excess of one year shall be paid in a cash buy-out at the previous year pay rate.

Maximum Carryover. Each employee may carry over a maximum of the prior year's accrual into the next fiscal calendar year. On July 1 of each year any accumulated vacation time in excess of one year shall be paid in a cash buy-out at the previous year pay rate.