All holiday credit must be used annually in accordance with the employer's leave policy. An employee who does not use their accrued holiday credit by the annual date specified in the employer's leave policy will receive monetary compensation. Holiday credit must be paid when:

(1) The employee separates from state service for any reason.

(2) The employee is appointed to a position with a different employer.

(3) The employee is appointed to a position that has a different funding source within the same employer.