Paid Time Off (PTO) 315 Paid Time Off (PTO) As previously outlined in the Wilkinson Electric & Ace Mechanical Employee Policy Manual, all eligible employees who complete a full year of employment will receive the benefit of seven paid holidays. In addition to the seven paid Holidays, after one full year of employment all eligible employees will also begin to accrue Paid Time Off or "PTO" days on their anniversary or hire date. Knowing that the success of any company is heavily reliant on the loyalty of its employees to the company and also the company's loyalty to the employees, Wilkinson & Ace is offering this benefit to strengthen the mutually beneficial relationship between the company and its employees. All eligible employees will receive one PTO day on his/her anniversary date for each year of full time employment with a maximum of five PTO days total. Hence, employees will receive a PTO day after the first year of full time employment, two PTO Days after two years of full time employment, three PTO days after three years of full time employment, four PTO days after four years of full time employment, and five PTO days after five or more years of full time employment. These PTO days may be used all at once, for sick days, or spread throughout the year as the employee chooses, in consultation with management. Any unused PTO days at the end of the employee anniversary year or hire date will roll over and accumulate into the next year. There will be a maximum of 10 PTO days accumulated. Any days in excess of the 10 PTO days accumulated will be paid out by the company. This PTO policy is effective July 1, 2006 for all current employees; (i.e. those that have already completed one year of full time employment have one day of paid time off, those that have completed two years of full time employment have two days of paid time off, etc.) On July 1, 2006, employees will receive a pro-rated amount of PTO for the time between July 1, 2006 and their anniversary or hire date. Thereafter, employees will receive PTO days based on the criteria in paragraph 2. PTO days are redeemed by writing in Paid Time Off or PTO on the time card and by writing in 8 hours under the appropriate day(s). The office and your job supervisor must be given at least one weeks notice before PTO day(s) are used so appropriate actions can be taken, if needed, to maintain our project schedules. In the cases of sickness or emergencies the office and job supervisor must be notified as soon as practical if PTO day(s) are going to be used. This policy is subject to change, as needed, to enable us to evolve with ever changing market conditions. Policy No. 315