1. Floating holiday leave maximum balance is 32 hours. All balances at or above 32 hours will be capped (no additional floating holiday leave may be accrued) until the balance is reduced to under 32 hours. All balances above 32 hours will be adjusted to 32 hours effective Jan. 1, 2014.
2. The term "banked holiday" is changed to "observed holiday." The requirement that observed holiday leave is to be used within 12 months is reinforced, and all observed holiday leave earned prior to Jan. 1, 2013 is to be lapsed effective Jan. 1, 2014.
3. Prohibits payout of leave (including vacation leave) in cases of transfer.
4. Limits rehire of separated employees within 12 months of separation unless the hiring department reimburses the former employing department for any leave payout made at separation.
5. Exceptions to key points three and four will be made in cases of layoff or employees moving from leave earning to non-leave earning positions.
Employees with floating or observed banked holiday leave accumulations above the maximum will soon be advised by e-mail of the fact that their balance is above the maximum and that it will be adjusted Jan. 1, 2014. They also will receive monthly reminders from SAP.
The president's policy clarification can be accessed here