Common use of Vacation Buy Back Clause in Contracts

Vacation Buy Back. When necessary due to service requirements, such as those outlined in Article VI, Hours of Work, Section 9., Assigned Overtime, paragraphs a. and b., Management may offer an employee with at least fifteen (15) years of service the opportunity to sell his/her vacation back to the Company as follows: a. An employee eligible for four (4) weeks’ vacation un- der the provisions of Section 1.d. of this Article may be paid in lieu of one (1) week [or up to five (5) day-at-a- time vacation days] of unused vacation. b. An employee eligible for five (5) weeks’ vacation un- der the provisions of Section 1.e. of this Article may be paid in lieu of two (2) weeks [or up to ten (10) day-at-a- time vacation days] of unused vacation. Note: The offer of pay in lieu of vacation pursuant to this Section shall be effective only if agreed to by the em- ployee.

Vacation Buy Back. When necessary due to service requirements, such as those outlined in Article VI, Hours of Work, Section 9., Assigned Overtime, ,paragraphs a. and b., Management may offer an employee with at least fifteen (15) years of service the opportunity to sell his/her vacation back to the Company as follows: a. An employee eligible for four (4) weeks’ vacation un- der the provisions of Section 1.d. of this Article may be paid in lieu of one (1) week [or up to five (5) day-at-a- time vacation days] of unused vacation. b. An employee eligible for five (5) weeks’ vacation un- der the provisions of Section 1.e. of this Article may be paid in lieu of two (2) weeks [or up to ten (10) day-at-a- time vacation days] of unused vacation. Note: The offer of pay in lieu of vacation pursuant to this Section shall be effective only if agreed to by the em- ployee.