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a. If an employee wants to cash-out unused vacation leave they <br /> accrued during the calendar year, they must make an irrevocable <br /> election by December 15th of the prior calendar year (i.e., by <br /> December 15, 2023 for a cash-out in calendar year 2024). The <br /> provisions of Section 9.2(F)(3)(a) shall also apply to <br /> management vacation leave. <br /> b. The irrevocable election must indicate the amount of vacation <br /> hours the employee intends to cash-out during the next calendar <br /> year. <br /> The number of hours to be cashed-out cannot exceed the total <br /> number of hours the employee will accrue during that same <br /> calendar year, or a maximum of eighty(80) hours, whichever is <br /> the lesser amount. <br /> c. Once the election form is submitted to Payroll, the amount of <br /> hours to be cashed-out cannot be changed for that calendar year. <br /> d. Employees may submit a request for cash-out up to two(2)times <br /> per year for payment. <br /> e. In the event an employee's vacation leave balance (in the up to <br /> two) pay periods when they elect to cash-out) is less than the <br /> amount of hours the employee had previously elected to cash- <br /> out (in the prior calendar year), the employee will only receive <br /> payment for the amount of accumulated vacation leave <br /> remaining at the time of the cash-out. All cash-out elections not <br /> processed by the last pay check in November will be processed <br /> in the first pay check in December. <br /> f. If an employee makes an irrevocable election to cash-out <br /> vacation in the following calendar year and uses vacation leave <br /> during that subsequent calendar year, the vacation leave used <br /> will first come from vacation leave the employee had earned (if <br /> any) prior to January I" of the calendar year the employee had <br /> elected to cash-out. The use of such earned,but unused,vacation <br /> leave accumulated from previous calendar years shall not result <br /> in a reduction in the amount of vacation hours the employee is <br /> eligible to cash-out. <br /> 9.3 Vacation Carry Over <br />