Maximum Days Accrued Sample Clauses

The "Maximum Days Accrued" clause sets a cap on the total number of days that can accumulate for a particular benefit or obligation, such as paid time off, sick leave, or interest calculations. In practice, this means that once an employee or party reaches the specified maximum, no additional days will accrue until the balance drops below the limit, often due to usage or payout. This clause helps employers or contracting parties manage liabilities and prevent indefinite accumulation, ensuring predictability and control over potential costs or obligations.
Maximum Days Accrued. Annual vacation leave may be accumulated to a total not to exceed twice the number of days earned annually.
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Related to Maximum Days Accrued

  • Maximum Accrual Vacation credit may be accumulated to a maximum that can be earned in four (4) years. Further accumulation will not continue when the maximum is reached. When an employee’s vacation reaches the maximum level, and if the employee has been denied vacation during the twelve (12) months, the employee will be paid for the time denied but no more than eighty (80) hours in a pay period. 80 hours 320 hours 120 hours 480 hours 160 hours 640 hours 180 hours 720 hours 200 hours 800 hours 240 hours 960 hours

  • Maximum Drawing Amount The maximum aggregate amount that the beneficiaries may at any time draw under outstanding Letters of Credit, as such aggregate amount may be reduced from time to time pursuant to the terms of the Letters of Credit.

  • Maximum Accumulation An employee may accumulate earned leave, excluding the separate vacation balance, if any, to a maximum of twice their annual time management accumulation. As of the end of the pay period in which March 31 falls in each year, any employee credited with accrued leave greater than twice their annual leave accumulation shall forfeit that amount above their maximum accumulation. An employee who has acquired the maximum allowable accumulation of earned leave may continue to accumulate earned leave for the balance of the year in which the maximum accrual was reached, provided, however, that the employee must reduce the accumulation to the maximum allowable prior to the following March 31 or forfeit the excess.

  • Maximum Total Compensation Subsection 10.1 is amended to Increase Decrease the Maximum Total Compensation from $ to $ .

  • Vacation Leave Accrual Rate Schedule Full Years of Service Hours Per Year