Common use of VACATION SELLBACK Clause in Contracts

VACATION SELLBACK. An employee may elect to convert for payment in cash a maximum of two weeks unused vacation days per year, computed at the employee’s current salary rate, provided that two weeks vacation and/or leave are taken in the calendar year the vacation sellback takes place. This right to sellback shall only be in effect provided that one week of vacation accrual remain on the books after the vacation sellback takes place.

VACATION SELLBACK. An employee may elect to convert covert for payment in cash a maximum of two weeks unused half of his/her annual vacation days per yearaccrual, computed at the employee’s current salary rate, provided that the employee takes off two weeks of vacation and/or leave are taken compensatory time in the calendar year the vacation sellback takes place. This right to The vacation sellback shall only be in effect provided that one week two weeks of vacation accrual remain on the books after the vacation sellback takes place.