Paid Time Off Accumulation – Maximum Sample Clauses

Paid Time Off Accumulation – Maximum. No employee shall be entitled to accumulate more unused paid time off than the equivalent of the maximum amount that the employee could earn in a 36-month period in his or her current FTE status. No additional credit for paid time off shall be allowed to an employee so long as they have to their credit accumulated unused paid time off in the foregoing maximum amount. For example, if a part-time employee converts to full time status, their maximum accrual will be increased to what they could earn as a full-time employee in a 36 month period. Conversely, if a full-time employee converts to part-time status, their maximum accrual will decrease to what they could earn as a part-time employee in a 36 month period. In the latter case – converting from full-time to part-time status – if the employee’s accrual at time of conversion to part-time status exceeds their part-time maximum PTO earning, the employee may keep their accrued amount. However, he/she shall not earn additional PTO until he/she drops below the maximum for their part-time status. The Court shall endeavor to grant time off prior to such change so that an employee does not forfeit earned paid time off whenever practicable.
Sample 1
AutoNDA by SimpleDocs

Related to Paid Time Off Accumulation – Maximum

  • Paid Time Off (PTO) Executive shall earn and accrue paid-time-off covering vacation and sick time benefits at the rate of twenty (20) days per year for employment periods of up to five years of service. The PTO accrual rate shall automatically increase by five (5) additional days for each additional 5 years of service up to maximum of thirty (30) days per year after 10 years of service. For example, after five years of service, the annual PTO accrual rate shall increase to twenty-five (25) days. Unused PTO shall carry over to the next year, but Executive shall cease accruing further PTO at any time Executive has accrued two times his annual accrual rate. Unused PTO days which are not in excess of two-times the annual accrual rate shall be paid in a cash lump sum payment promptly after Executive’s termination of employment.

  • Paid Time Off The Executive shall be entitled to take paid time off in accordance with the Company’s applicable paid time off policy for executives, as may be in effect from time to time.

  • Unpaid Time Off All accruals must be exhausted prior to taking unpaid time off (unless eligible for EIT access).

  • Vacation Leave Maximum Employees may accumulate maximum vacation leave balances not to exceed two hundred and forty (240) hours. However, there are two (2) exceptions that allow vacation leave to accumulate above the maximum:

  • Reallocation to a Class with a Lower Salary Range Maximum 1. If the employee meets the skills and abilities requirements of the position and chooses to remain in the reallocated position, the employee retains existing appointment status and has the right to be placed on the Employer’s internal layoff list for the classification occupied prior to the reallocation.

  • Prime Time Vacation Period Subject to the provisions of this article, it is the intent of the parties that no employee will be restricted in the time of year they choose to take their vacation. The Employer will make every effort to allow employees to take their vacation during the period of April 15th to October 15th inclusive, which will be defined as the prime time vacation period.

  • Vacation Leave Accrual Rate Schedule Full Years of Service Hours Per Year During the first year of current continuous employment Ninety-six (96) During the second year of current continuous employment One hundred four (104) During the third and fourth years of current continuous employment One hundred twelve (112) During the fifth, sixth, and seventh years of total employment One hundred twenty (120) During the eighth, ninth, and tenth years of total employment One hundred twenty-eight (128) During the eleventh year of total employment One hundred thirty-six (136) During the twelfth year of total employment One hundred forty-four (144) During the thirteenth year of total employment One hundred fifty-two (152) During the fourteenth year of total employment One hundred sixty (160) During the fifteenth year of total employment One hundred sixty-eight (168) During the sixteenth year of total employment and thereafter One hundred seventy-six (176)

  • Maximum Vacation Accrual Employees may accrue vacation up to a maximum of two hundred forty (240) hours. An employee who has reached the maximum accrual level may continue to accrue vacation until his or her next anniversary date, at which time any vacation accrued in addition to the two hundred forty (240) hour maximum accrual will be extinguished. With the written approval of the appropriate Vice President, an employee may accrue more than two hundred forty (240) hours of vacation when he or she is precluded from taking a previously scheduled vacation because of University needs. Any such written approval will specify a timeline for the employee to use any excess vacation accrual, after which any excess vacation accrual will be extinguished.

  • Excessive leave accruals request by employee for leave

  • Reallocation to a Class with a Higher Salary Range Maximum Upon appointment to the higher class, the employee’s base salary will be increased to a step of the range for the new class that is nearest to five percent (5.0%) higher than the amount of the pre-promotional step, or to the entry step of the new range, whichever is higher.

Time is Money Join Law Insider Premium to draft better contracts faster.