Restrictions of Use of Paid Time Off While On Voluntary Time Off Sample Clauses

Restrictions of Use of Paid Time Off While On Voluntary Time Off. (1) All voluntary unpaid time off granted pursuant to this section shall be without pay. (2) Employees granted voluntary unpaid time off are precluded from using sick leave with pay credits, vacation credits, compensatory time off credits, floating holidays, training days or any other form of pay for the time period involved.
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Restrictions of Use of Paid Time Off While On Voluntary Time Off. 196. All voluntary unpaid time off granted pursuant to this section shall be without pay.
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Related to Restrictions of Use of Paid Time Off While On Voluntary Time Off

  • 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.

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