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City observed "legal" holiday shall be paid at his or her straight time rate. <br />However, if an employee who separated from the service of the City has taken time off <br />for holidays in advance of the date or day the holiday actually occurred, he or she must <br />pay the City the cash value for such used but unearned holiday time off benefits prior to <br />or at the time of separation. <br />9.3 Cash Option. Employees covered by this MOU shall be given an option twice per <br />calendar year to receive cash compensation ("cash out') computed on a straight time <br />basis in exchange for eighty (80) hours of their annual holiday leave benefits set forth in <br />Section 9.2 above. Specifically, employees may cash out up to 40 hours of holiday leave <br />benefits in April of each calendar year and an additional 40 hours of holiday leave <br />benefits in November of each calendar year. An employee that does not cash out holiday <br />leave benefits in April may cash out a maximum of 80 hours of holiday leave benefits in <br />November. The City shall provide a separate payment in addition to the regular pay <br />for each employee who elects to receive holiday cash compensation ("cash out'), during <br />the months of April and November per calendar year. <br />9.4 All employees must actually work at least one day preceding the day a holiday listed in <br />Section 9.1, actually occurs in order to receive credit for such holiday. The employee <br />will then be credited with all remaining holidays in the year occurring after the <br />appointment. <br />An employee separating from the service of the City must actually work at least one day <br />following the day a holiday listed in Section 9. 1, actually occurs in order to receive credit <br />for that holiday. <br />A newly appointed employee must complete six (6) months of continuous, full-time <br />service in order to receive credit for the Floating Holiday listed in Section 9.1 above. <br />9.5 This "time off," as defined in Article X, Section 10.6, may be taken in increments as <br />small as one half (1/2) hour, with fractional usage rounded upward to the next higher <br />multiple of one half (1/2) hour. <br />9.6 A maximum of one (1) year of Holiday benefits may be carried over from one calendar <br />year to the next. An employee terminating employment with the City may cash out <br />accumulated, unused Holiday leave benefits, not to exceed a maximum of 160 hours. <br />34 <br />