Annual Vacation Pay Adjustment. As soon as possible following 31 of December in each year a vacation pay adjustment will be made in a lump sum to all employees other than those entitled to an annual percentage of earnings in lieu of vacation, where such employees' annual basic earnings exclusive of overtime and any other premium payments not normally taken into account in the computation of annual vacation pay exceeded their regular base rate earnings during the year in question. Such cash payments shall reflect the proportionate difference between the employees' actual annual basic earnings and regular base rate earnings applied to the employees' annual vacation pay for the year in question, but shall not be paid in any case where the total amount payable is less than one dollar ($1.00).
Annual Vacation Pay Adjustment. The Parties agree to meet annually in February to review annual vacation pay adjustments. Payment of the annual vacation pay adjustments will be made prior to May 31 of each year.
Annual Vacation Pay Adjustment. The Parties agree to meet annually in February to review annual vacation pay adjustments. Payment of the annual vacation pay adjustments will be made prior to May 31 of each year. LETTER OF UNDERSTANDING No. 11 - BIDDING OF MIDNIGHT SHIFTS (DELETED) Deleted – Intentionally Left Blank LETTER OF UNDERSTANDING No. 12 - VACATION WAITING LIST PROCESS (DELETED) Deleted – Intentionally Left Blank
