Another demotion question

A friend asked me this question. His wife was recently demoted from a manager position to a lower level position with a lower rate of pay.

She had vacation time on the books that she had earned when she was a manager at the higher pay rate. If she wanted to cash out some of this vacation time, would it be at her current lower pay rate or the rate she had when she earned it?

My response was to check the wording of the vacation policy.

Any other comments?

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