Hollon Oil Company makes available vacation time off with pay to all eligible employees to provide opportunities for rest, relaxation, and personal pursuits.
After one year of employment, employees in the following employment classification(s) are eligible for vacation time off as described in this policy:
* Regular full-time employees
The amount of paid vacation time available each year:
* After 1 year of eligible service - 5 vacation days (40 hours) each year.
* After 2 years of eligible service - 10 vacation days (80 hours) each year.
* After 5 years of eligible service - 15 vacation days (120 hours) each year.
Once employees enter an eligible employment classification, and complete one year of eligible service, vacation time off is available according to the schedule. Vacation time is available on an annual basis after each year of employment and is not accrued throughout the year.
Paid vacation time can be used in minimum increments of one-half day (4 hours).
To take vacation time, employees are to request advance approval in writing from their supervisors as early as possible. Requests will be reviewed based on a number of factors, including business needs and staffing requirements. All vacation requests are subject to the approval of Management. Once written approval is received, employees should indicate their vacation dates on the company's posted vacation calendar.
Vacation time off is paid at the employee's base pay rate at the time of vacation. It does not include overtime or any special forms of compensation such as incentives, commissions, bonuses, or shift differentials.
As stated above, employees are encouraged to use available paid vacation time for rest, relaxation, and personal pursuits. Vacation pay in lieu of vacation time off is not an option unless unusual staffing requirements prevent employee from taking requested vacation time off within the benefit year and/or it is approved by Management.
All vacation pay will be included in the employee's regular scheduled paycheck after vacation time off has been taken. No vacation checks will be issued in advance of the vacation time off. If this is a concern, employees should schedule their vacation time according to the pay period. This policy is the same for all employees (both hourly and salary).
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 two times the annual 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.
