Common use of Vacation Accrual - Continuous service Clause in Contracts

Vacation Accrual - Continuous service. Each employee paid at a biweekly rate who has had continuous full-time active service shall be entitled to vacation with pay. This benefit will be calculated based on 26 pay periods per fiscal year. The following provisions shall apply: 1. Employees will accrue 80-hours annually during the first through fourth years of service. 2. Employees will accrue and be eligible to receive 120-hours annually during the fifth through ninth year of service. 3. Employees will accrue and be eligible to receive 160-hours annually during the tenth through fourteenth years of service. 4. Employees will accrue and be eligible to receive 200-hours annually during the fifteenth and succeeding years of service. 5. Maximum Vacation Accrual - at no time may an employee have more than three- years of vacation leave accumulated. No credits shall be accrued above this limit and any time in excess of the three-year limitation will be lost. 6. Vacation accrual rate changes will become effective at the beginning of the pay period closest to the actual date, which includes the employee anniversary date of benefited status.