Vacation Policy

13:36 07/02/2014 in Banking & Collections
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Vacation is paid by [COMPANY NAME] to regular full-time employees as follows:

    First year of employment: [NUMBER] week

    Second through third year of employment: [NUMBER] weeks

    Third through tenth year of employment: [NUMBER] weeks

    Tenth through twentieth year of employment: [NUMBER] weeks

    Over twenty years of employment: [NUMBER] weeks

All employees are required to give at least [NUMBER MONTH’S] notice to their supervisor of their vacation plans. You are required to take your vacation within [NUMBER] calendar year after you earn it. You will not be eligible to receive pay instead of vacation time except with company permission or upon termination. Vacation time, which is taken prior to being earned, is considered an advancement of wages and, upon termination, will be deducted from your paycheck. Any conflict in vacation requests will be decided based on employee seniority and company needs. You will not be entitled to accrued vacation during periods when you are on personal leave of absence or if you are suspended from the company.

If a holiday occurs during your vacation period you will be granted one additional day of vacation. [IF YOU ARE SICK DURING YOUR VACATION PERIOD YOU MAY NOT COUNT THAT DAY TOWARDS SICK PAY.] You must take vacation in a minimum of [NUMBER] week allotments unless specifically approved of by your supervisor.

You are not eligible for any paid vacation until you have completed one year of employment with the company. For example, if you leave the company after nine months of employment, you will not be eligible for any vacation pay benefits. After [NUMBER] year of employment, [NUMBER] weeks of vacation will accrue. After the second year of employment and onward, you will begin accruing vacation at subsequent anniversary dates.

Employees are encouraged to use available paid vacation time for rest, relaxation, and personal pursuits. In the event that available vacation is not used by the end of the benefit year, employees may carry unused time forward to the next benefit year. If the total amount of unused vacation time reaches a “cap” equal to [VACATION AMOUNT], further vacation accrual will stop. When the employee uses paid vacation time, and brings the available amount below the cap, vacation accrual will begin again up to the cap limit.

Employees will be paid for unused vacation time that has been accrued through the last day of work upon termination of employment.

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