Common use of Maximum Allowable Accumulation Clause in Contracts

Maximum Allowable Accumulation. 1. The balance of an employee’s vacation credits of record (including vacation earned but not credited), hereinafter “accumulation”, shall not exceed an amount equal to twice the annualized current vacation earnings rate of the employee or of the vacation credits designated as the employee’s “High Water Mark”. This is the employee’s “Maximum Balance”. 2. In any payroll period, an employee shall earn vacation equal to the lesser of: a. The earnings specified in Section 2.B above; or, b. The amount of earnings necessary which, when added to the employee’s existing accumulation, will cause the accumulation to equal the employee’s Maximum Balance. 3. If, at the end of any payroll period, an employee’s accumulation equals or exceeds the employee’s Maximum Balance, no vacation credits shall be earned by the employee for that payroll period. 4. Employees whose vacation accumulation exceeds their Maximum Balance on the effective date of this agreement will not have the excess credits removed except through normal usage (including Catastrophic Leave donations), pay down in accordance with Section 2.E. below, pay off in accordance with Sections 2.F. or 2.G. below, or adjustment required to correct an error. 5. The County shall notify employees who have reached eighty percent (80%) of their Maximum Balance.

Maximum Allowable Accumulation. 1. The balance of an employee’s vacation credits of record (including vacation earned but not credited), hereinafter “accumulation”, shall not exceed an amount equal to twice the annualized current vacation earnings rate of the employee or of the vacation credits designated as the employee’s “High Water Mark”” effective November 17, 2000. This is the employee’s “Maximum Balance.”. 2. In any payroll period, an employee shall earn vacation equal to the lesser of: a. The earnings specified in Section 2.B “B” above; or, b. The amount of earnings necessary which, when added to the employee’s existing accumulation, will cause the accumulation to equal the employee’s Maximum Balance. 3. If, at the end of any payroll period, an employee’s accumulation equals or exceeds the employee’s Maximum Balance, no vacation credits shall be earned by the employee for that payroll period. 4. Employees whose vacation accumulation exceeds their Maximum Balance on the effective date of this agreement will not have the excess credits removed except through normal usage (including Catastrophic Leave donations), pay down in accordance with Section 2.E. below, pay off in accordance with Sections Section 2.F. or 2.G. below, or adjustment required to correct an error. 5. The County shall notify employees who have reached eighty percent (80%) of their Maximum Balance.

Maximum Allowable Accumulation. 1. The balance of an employee’s vacation credits of record (including vacation earned but not credited), hereinafter “accumulation”, shall not exceed an amount equal to twice the annualized current vacation earnings rate of the employee or of the vacation credits designated as the employee’s “High Water Mark▇▇▇▇”. This is the employee’s “Maximum Balance”. 2. In any payroll period, an employee shall earn vacation equal to the lesser of: a. The earnings specified in Section 2.B “B” above; or, b. The amount of earnings necessary which, when added to the employee’s existing accumulation, will cause the accumulation to equal the employee’s Maximum Balance. 3. If, at the end of any payroll period, an employee’s accumulation equals or exceeds the employee’s Maximum Balance, no vacation credits shall be earned by the employee for that payroll period. 4. Employees whose vacation accumulation exceeds their Maximum Balance on the effective date of this agreement will not have the excess credits removed except through normal usage (including Catastrophic Leave donations), pay down in accordance with Section 2.E. below, pay off in accordance with Sections 2.F. or 2.G. below, or adjustment required to correct an error. 5. The County shall notify employees who have reached eighty percent (80%) of their Maximum Balance.

Maximum Allowable Accumulation. 1. The balance of an employee’s vacation credits of record (including vacation earned but not credited), hereinafter “accumulation”, shall not exceed an amount equal to twice the annualized current vacation earnings rate of the employee or of the vacation credits designated as the employee’s “High Water Mark”. This is the employee’s “Maximum Balance”. 2. In any payroll period, an employee shall earn vacation equal to the lesser of: a. The earnings specified in Section 2.B B. above; or, b. The amount of earnings necessary which, when added to the employee’s existing accumulation, will cause the accumulation to equal the employee’s Maximum Balance. 3. If, at the end of any payroll period, an employee’s accumulation equals or exceeds the employee’s Maximum Balance, no vacation credits shall be earned by the employee for that payroll period. 4. Employees whose vacation accumulation exceeds their Maximum Balance on the effective date of this agreement will not have the excess credits removed except through normal usage (including Catastrophic Leave donations), pay down in accordance with Section 2.E. below, pay off in accordance with Sections 2.F. or 2.G. below, or adjustment required to correct an error. 5. The County shall notify employees who have reached eighty percent (80%) of their Maximum Balance.

Maximum Allowable Accumulation. 1. The balance of an employee’s vacation credits of record (including vacation earned but not credited), hereinafter “accumulation”, shall not exceed an amount equal to twice the annualized current vacation earnings rate of the employee or of the vacation credits designated as the employee’s “High Water Mark▇▇▇▇”. This is the employee’s “Maximum Balance”. 2. In any payroll period, an employee shall earn vacation equal to the lesser of: a. The earnings specified in Section 2.B B. above; or, b. The amount of earnings necessary which, when added to the employee’s existing accumulation, will cause the accumulation to equal the employee’s Maximum Balance. 3. If, at the end of any payroll period, an employee’s accumulation equals or exceeds the employee’s Maximum Balance, no vacation credits shall be earned by the employee for that payroll period. 4. Employees whose vacation accumulation exceeds their Maximum Balance on the effective date of this agreement will not have the excess credits removed except through normal usage (including Catastrophic Leave donations), pay down in accordance with Section 2.E. below, pay off in accordance with Sections 2.F. or 2.G. below, or adjustment required to correct an error. 5. The County shall notify employees who have reached eighty percent (80%) of their Maximum Balance.