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1, 2009, all employees covered by this Agreement shall defer for the duration of <br />Fiscal years 2009-10 and 2010-11, respectively, an employee's ability to cash out <br />management vacation time. The ability to cash out management vacation time shall <br />be reinstated July 1, 2011. Effective Jtily 1, 2012, all employees covered by this <br />Agreement shall defer for the duration of Fiscal year 2012-13 an employee's ability <br />to cash out management vacation time. The ability to cash out management vacation <br />shall be reinstated July 1, 2013. Such deferral shall not affect an employee's ability <br />to cash out management vacation time upon separation of employment with the City. <br />Effective July 1, 2012, employees covered by this Agreement shall begin earning an <br />additional 60 hours of management vacation leave for a total accrual of 100 hours. <br />During calendar year 2012, employees shall earn the prorated amount of 30 hours of <br />management vacation leave for a total accrual of 70 hours. <br />Effective July 1, 2011 June 30, 2012, employees choosing to cash out their <br />management vacation leave time may do so up to a maximum value of 67 <br />hours per year. <br />2. Effective July 1, 2012, employees shall defer management vacation leave <br />time cash out during Fiscal Year 2012-13. <br />Effective July 1, 2013 through June 30, 2014, employees choosing to cash out <br />their management vacation leave time may do so up to a maximum of 175 <br />hours per year. <br />4. Effective July 1, 2014 through June 30, 2015, employees choosing to cash out <br />their management vacation leave time may do so up to a maximum of 150 <br />hours per year. <br />Effective July 1, 2015, management vacation leave cash out maximums shall <br />revert to 100 hours per year. <br />The terms and conditions identified in "bold type" above apply to the Cash Option set forth in 9.6 <br />above for the period of time beginning July 1, 2009, and ending June 30, 20150 Effective July 1, <br />2015, these terms and conditions no longer apply and the Cash Option reverts to that set forth above <br />(maximum of 120 hours of combined holiday, regular or longevity vacation, and/or management <br />vacation.) <br />Such cash option may be eliminated or modified to the extent it is construed as overtime under <br />Department of Labor Guidelines implementing provisions of the Fair Labor Standards Act. <br />D. PMA members who notify the City, in writing, of their intent to retire within 12 <br />calendar months shall be allowed to cash out any and all eligible leave bank balances, <br />including sick leave, upon request. Employees shall receive payment as soon as <br />~~ <br />