Common use of Maximum Accumulation/No Prepayment Clause in Contracts

Maximum Accumulation/No Prepayment. Paid hours of vacation shall not accumulate beyond a maximum of two hundred (200) hours. In the event an employee has accumulated two hundred (200) paid hours of vacation, paid hours of vacation which the employee would have normally earned pursuant to Section 8.1 shall cease to be earned until such time as the employee's accumulation of paid hours of vacation is less than two hundred (200) hours.

Maximum Accumulation/No Prepayment. Paid hours of vacation shall not accumulate beyond a maximum of two hundred (200) hours, for part-time employees the pro-rata FTE equivalent. In the event an employee has accumulated two hundred (200) (or pro-rata equivalent) paid hours of vacation, paid hours of vacation which the employee would have normally earned pursuant to Section 8.1 1 above shall cease to be earned until such time as the employee's accumulation of paid hours of vacation is less than two hundred (200) hours.