Paid Time Off For 2001, the PTO Program lets you take paid days off in a way that best meets your needs. The new PTO Program has several advantages for both you and the company: Combines all the time-off programs, which simplifies administration Provides you with greater flexibility for using your paid absences Helps you achieve a balance between your work and home life Rewards you for carefully managing your absences by allowing you to sell back PTO you haven't used (hourly and non-exempt employees only). How the PTO Program Works You earn PTO days each year based on your length of service (as shown below). You earn and use these days over the course of the calendar year. Length of Service with a Dean Company Earned PTO Days* Less than 2 years** 10 2 to 6 years 15 7 to 14 years 20 15 to 24 25 25 years and up 30 *If your regular work day is not 8 hours, ask Human Resources how you earn PTO **In your first year with Dean, your PTO days are prorated based on your month of hire You may use your earned PTO days in any way you choose, but you must use them by the end of the calendar year in which you earn them. In addition to earned PTO, you receive seven paid holidays per year. If you work for Dean for only part of the year, your PTO will be prorated. If you use PTO days before you earn them and then retire or terminate employment, you must repay the company for those days. You may not carry over unused PTO days into the following year unless a pre-approved business necessity (such as production demands) prevents you from using your PTO. The following time is separate from the PTO program: Short-term Disability (STD) or Long-term Disability (LTD) Holidays Jury Duty Bereavement Leave Family Emergencies Military Training Duty PTO SELL-BACK Hourly and non-exempt employees have the opportunity to sell back unused PTO in whole days to the company twice a year-in March and October. You must use at least two weeks of PTO before you can sell back any time. You forfeit any PTO days you do not use or sell back by the end of the year. The value of your PTO is calculated as your base hourly pay times the number of hours you sell back, minus any applicable tax deductions.