What is the vacation time payout policy?

The vacation time payout policy sets forth the guidelines and procedures for requesting payout of
vacation time in lieu of taking vacation time benefits for paid time off.

Scope

This policy applies to all of Community Partners’ core and project employees.

Policy

a) Eligibility & Conditions

Although Community Partners prefers that accrued vacation benefits be taken to allow employees paid time off to rest and recover from the demands of work, in the case of financial/economic hardship, pay in lieu of taking time off for vacation will be considered under certain conditions (see below).

All requests for Vacation Time Payouts, (download payout form below) will be considered by and granted at the sole discretion of the HR Director and/or the Senior Management Team after approval by the requesting employee’s Project Leader, if applicable.

Further, these requests will be considered on a case by case basis. Payouts in lieu of paid time off will be granted only with HR Director and/or Senior Management Team approval and their determination that the payout will not cause a financial hardship (as defined solely by the HR Director and/or the Senior Management Team) to Community Partners or the employee’s respective project.

In order to be considered employees must meet the following criteria:

1. Employees with at least 40 hours of accrued vacation time may request a payout for their accrued but unused vacation time not to exceed 60% of currently accrued time.

2. Employees should notify the HR Director in writing of the reason for the requested payout.

3. Any request subsequently granted will be paid to the employee no earlier than their next regularly scheduled pay date.

4. Employees are able to receive a payout for vacation time at a maximum of one time per calendar year.

This policy can be amended or ended at the sole discretion of Community Partners at any time with or without further notice.

b) Payment

Vacation time payout will be done together with the next regularly scheduled pay date in a separate paycheck. The amount of the vacation time payout is taxable income.