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7.2 Holidays <br /> New Year's Day January 1 <br /> Martin Luther King's Birthday Third Monday in January <br /> President's Day Third Monday in February <br /> Memorial Day Last Monday in May <br /> Independence Day July 4 <br /> Labor Day First Monday in September <br /> Veterans Day November 11 <br /> Thanksgiving Day Fourth Thursday in November <br /> Fourth Friday Friday after Thanksgiving <br /> Christmas Day December 25 <br /> Floating Holiday Date to be pre - approved. <br /> Sunday /Saturday Holidays: If a holiday falls on a Sunday, the following day will <br /> be the observed holiday. If a holiday falls on a Saturday, the preceding day will be <br /> the observed holiday. <br /> Floating Holiday: Each Employee gets one floating holiday per year and it may be <br /> taken at the request of the Employee, with prior approval of the Employee's <br /> supervisor. Floating holiday may be taken during the probationary period. An <br /> unused floating holiday shall be forfeited and may not be carried over to the next <br /> payroll year nor paid as severance. <br /> 7.3 Holiday Pay <br /> Worked: An Employee required to work on a holiday shall be paid at the rate of two <br /> and one -half (21/2) times the Employee's rate of pay. <br /> Not Worked: An Employee not scheduled to work on holidays will be compensated <br /> at the normal hourly rate. <br /> On Leave: Holidays occurring during an Employee's PTO or funeral leave will be <br /> considered a holiday and the Employee's leave bank will not be charged for PTO or <br /> funeral on that day. <br /> 8. PERSONAL TIME OFF (PTO) - LEAVE WITH PAY <br /> 8.1 General <br /> Eligibility: Full -time Employees who have worked for the City for at least six <br /> months are eligible to accrue annual Personal Time Off leave (PTO) from the date <br /> the Employee is hired. PTO will be available for use as it is accrued according to the <br /> schedule below. <br /> 8.2 Accrual <br /> Page 16 of 51 <br /> Adopted XXX, 2009 <br /> 64 <br />