You may cash-out up to forty (40) hours of accrued but unused vacation to your credit as of the end of Pay Period 12, provided you would still have a remaining balance of at least forty (40) hours of vacation.
Example: If an employee ends Pay Period 12 with 120 hours of accrued vacation, they may cash-out up to the full 40 hours. However, if an employee ends Pay Period 12 with 72 hours of vacation, they may only cash-out up to 32 hours, so that there would still be 40 hours remaining. If an employee ends Pay Period 12 with 18 hours of vacation, they would not be able to cash-out any of those hours.
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