Common use of Vacation Buy Out Clause in Contracts

Vacation Buy Out. The City agrees to allow all general full-time employees to receive cash equal to the employees’ daily base wage for up to 80 hours of vacation accrued but not taken provided the employee has taken or is scheduled to take 80 hours of vacation and/or miscellaneous leave in the calendar year and will have at least 40 hours accrued vacation remaining after vacation has been taken and after vacation buyout. For employees who have taken or are scheduled to take an additional 40 hours of vacation and/or miscellaneous leave in the calendar year and will have at least 40 hours accrued vacation remaining, an additional 80 hours may be cashed out. An employee or employees may exercise this option no more than twice during the calendar year. If the employee does not take off the required vacation time during the time periods set forth herein as well as any other requirements specified in the Agreement between the City and TOCEA, the employee will not be able to exercise the option of cashing out vacation days for two calendar years. In calculating the hours of vacation taken, employee donations of leave for purposes of catastrophic illness or injury shall be included.