Common use of Deferred Leave Clause in Contracts

Deferred Leave. In any twelve-month period, an employee may opt, in writing to defer two percent (2.0%) of their pay during the year. Such pay will be held in trust by the employer and banked against further use by the employee. Once the employee has accumulated the equivalent of one week’s regular pay (2.0% of annual earnings), the employee may, subject to operational requirements, schedule one week’s leave of absence. Pay during the week’s leave of absence shall be at the rate banked, not at the employee’s current wage rate. Employees cannot bank more than one week of pay at any time. No more than ten (10) employees can participate in a calendar year. The number of approved participants per AFCS program or worksite are subject to operational requirements.