Common use of Option 1 – Future Accruals Clause in Contracts

Option 1 – Future Accruals. An employee must make an irrevocable election during the month of December, specifying the number of hours to be sold back from the next calendar year’s vacation leave accruals. Such election must be made in increments of not less than fourteen (14) hours, and may not exceed one hundred and twelve (112) hours. Once an election is made, the employee must request that the designated number of hours actually to be sold back by pay period 25 of the calendar year in which the election is effective, or the hours will automatically be converted into cash in pay period 26.

Option 1 – Future Accruals. An employee must make an irrevocable election during the month of December, specifying the number of hours to be sold back from the next calendar year’s vacation leave accrualsholiday time accrual. Such election must be made in increments of not less than fourteen forty (1440) hours, hours and may not exceed one hundred and twelve fifty five (112155) hours. Once an election is made, the employee must request that the designated number of hours actually to be sold back by pay period 25 twenty five (25) of the calendar year in which the election is effective, effective or the hours will automatically be converted into cash in pay period twenty six (26).

Option 1 – Future Accruals. An eligible employee must make an irrevocable election during the month of December, specifying the number of hours to be sold back from the next calendar year’s vacation leave accruals. Such election must be made in increments of not less than fourteen (14) hours, and may not exceed one hundred and twelve (112) hours. Once an election is made, the employee must request that the designated number of hours actually to be sold back by pay period 25 of the calendar year in which the election is effective, or the hours will automatically be converted into cash in pay period 26.

Option 1 – Future Accruals. An eligible employee must make an irrevocable election during the month of December, specifying the number of hours to be sold back from the next calendar year’s vacation leave accrualsholiday time accrual. Such election must be made in increments of not less than fourteen forty (1440) hours, hours and may not exceed one hundred and twelve fifty five (112155) hours. Once an election is made, the employee must request that the designated number of hours actually to be sold back by pay period 25 twenty five (25) of the calendar year in which the election is effective, effective or the hours will automatically be converted into cash in pay period twenty six (26).