I work for a company headquartered in CA as a salaried employee working in TX. The company was purchased this year by a multi-national headquartered in Europe. My employment ceased with the original company as of the date of the sale and I became an employee of the new company. As a tenured employee of the original company, I receive 3 weeks vacation time per year. Vacation time is accrued each pay period at a rate of 1/12th value per pay period. I was told the vacation policy would remain in force until the beginning of 2011. That policy does not address disposition of unused vacation time.
I am told any unused vacation time remaining at the end of the year will be paid-out before the new vacation time policy is made effective Jan 1, 2011. While I understand TX has no law requiring employers to pay out for unused vacation, in 2008 I was required to sign a revised employment policy that stated,"the law of the State of California will govern the interpretation, validity, and effect of this contract without regard to the place of making or the place of performance"
Can my new employer legally limit the amount of unused vacation time I can take before the end of the year?

