Vacation Leave Accrual Rate Schedule Full Years of Service Hours Per Year
Holiday Falling on a Scheduled Workday An Employee who works on a designated holiday which is a scheduled workday shall be compensated at the rate of double time for hours worked, plus a day off in lieu of the holiday; except for Christmas and New Year's when the compensation shall be at the rate of double time and one-half (2½) for hours worked, plus a day off subject to this Agreement.
Meal Period A Contractor shall schedule an unpaid period of not more than 1/2 hour duration at the work location between the 3rd and 5th hour of the scheduled shift. A Contractor may, for efficiency of operation, establish a schedule which coordinates the meal periods of two or more crafts. If an employee is required to work through the meal period, the employee shall be compensated in a manner established in the applicable Schedule A.
Taking Annual Leave 29.3.1 The Employer and Employee shall seek to reach agreement on a mutually convenient time (having regard to overall operational and staffing requirements of the Company) for annual leave to be taken by the Employee. Where such agreement, cannot be reached, the Employer may fix a time for an Employee’s annual leave to be taken within a period of six (6) months or less from the date when the right to take annual leave has accrued, after giving at least fourteen (14) days’ notice to the Employee. 29.3.2 An Employee is required to provide at least one (1) months’ notice of a request to take annual leave however, final approval shall lie with the Company. 29.3.3 At the Company’s discretion, it may allow an Employee to take annual leave before the right to take it has accrued, but where such leave is taken, a further period of leave shall not commence to accrue until after the expiration of the twelve (12) months service that was required to accrue the right to take the annual leave. Where annual leave or part thereof has been granted before the right to take it has accrued and the Employee subsequently leaves before completing the required twelve (12) months service, and the amount paid by the Employer to the Employee for the annual leave taken exceeds the amount the Employer is required to pay to the Employee on termination, the Employer shall not be liable to make any payment to the Employee for annual leave and shall be entitled to deduct the amount of excess from any remuneration payable to the Employee upon termination of employment. 29.3.4 Where an Employee has more than eight (8) weeks annual leave entitlement accrued to them, the Company may direct the Employee to take annual leave by providing a minimum four (4) weeks’ notice in writing to the employee. Such direction shall only apply to a maximum of one quarter of the leave credits owing to the employee. 29.3.5 The Company may direct Employees to take any accrued annual leave during the Company’s annual close down (i.e., Christmas/New Year period). Employees that do not apply for leave during this period may be required to take annual leave. Where Employees have not yet accrued such annual leave, the leave taken shall be treated as Leave without Pay. The business will provide a minimum of 2 months notice about this closure each year. 29.3.6 If a public holiday (as prescribed in this Agreement) falls within an Employee's annual leave and, is on a day which would have been an nominal working day, then extra time equivalent to the public holiday shall be added to the Employee's annual leave. 29.3.7 An Employee shall not offer their Service to any other Employer during the period the Employee is on paid annual leave and, the Employer shall not engage an Employee who is on paid annual leave.
Loading on Annual Leave During a period of annual leave an Employee covered by this clause shall receive a loading of 22.5% calculated on the all-purpose rate of wage prescribed by Appendix A, clause 2.3 of this Agreement.
Tax Periods Beginning Before and Ending After the Closing Date The Company or the Purchaser shall prepare or cause to be prepared and file or cause to be filed any Returns of the Company for Tax periods that begin before the Closing Date and end after the Closing Date. To the extent such Taxes are not fully reserved for in the Company’s financial statements, the Sellers shall pay to the Company an amount equal to the unreserved portion of such Taxes that relates to the portion of the Tax period ending on the Closing Date. Such payment, if any, shall be paid by the Sellers within fifteen (15) days after receipt of written notice from the Company or the Purchaser that such Taxes were paid by the Company or the Purchaser for a period beginning prior to the Closing Date. For purposes of this Section, in the case of any Taxes that are imposed on a periodic basis and are payable for a Taxable period that includes (but does not end on) the Closing Date, the portion of such Tax that relates to the portion of such Tax period ending on the Closing Date shall (i) in the case of any Taxes other than Taxes based upon or related to income or receipts, be deemed to be the amount of such Tax for the entire Tax period multiplied by a fraction the numerator of which is the number of days in the Tax period ending on the Closing Date and the denominator of which is the number of days in the entire Tax period (the “Pro Rata Amount”), and (ii) in the case of any Tax based upon or related to income or receipts, be deemed equal to the amount that would be payable if the relevant Tax period ended on the Closing Date. The Sellers shall pay to the Company with the payment of any taxes due hereunder, the Sellers’ Pro Rata Amount of the costs and expenses incurred by the Purchaser or the Company in the preparation and filing of the Tax Returns. Any net operating losses or credits relating to a Tax period that begins before and ends after the Closing Date shall be taken into account as though the relevant Tax period ended on the Closing Date. All determinations necessary to give effect to the foregoing allocations shall be made in a reasonable manner as agreed to by the parties.
Vacation Accrual Rates Laid off employees who are re-employed shall have the vacation accrual rate they held immediately prior to layoff restored.
Quarterly and Annual Reconciliation 10.6.1 The Parties acknowledge that all payments made against Monthly Bills and Supplementary Bills shall be subject to quarterly reconciliation within 30 days of the end of the quarter at the beginning of the following quarter of each Contract Year and annual reconciliation at the end of each Contract Year within 30 days to take into account the Energy Accounts, Tariff adjustment payments, Tariff Rebate, Late Payment Surcharge, or any other reasonable circumstance provided under this Agreement. 10.6.2 The Parties, therefore, agree that as soon as all such data in respect of any quarter of a Contract Year or a full Contract Year as the case may be has been finally verified and adjusted, the SPD and SECI shall jointly sign such reconciliation statement. Within fifteen (15) days of signing of a reconciliation statement, the SPD shall make appropriate adjustments in the next Monthly Bill. Late Payment Surcharge/ interest shall be payable in such a case from the date on which such payment had been made to the invoicing Party or the date on which any payment was originally due, as may be applicable. Any Dispute with regard to the above reconciliation shall be dealt with in accordance with the provisions of Article 16.
Computation Period Interest on the Loans and all other amounts payable by Borrower hereunder on a per annum basis shall be computed on the basis of a 360-day year and the actual number of days elapsed (including the first day but excluding the last day) unless such calculation would result in a usurious rate or to the extent such Loan bears interest based upon the Base Rate, in which case interest shall be calculated on the basis of a 365-day year or 366-day year, as the case may be. In computing the number of days during which interest accrues, the day on which funds are initially advanced shall be included regardless of the time of day such advance is made, and the day on which funds are repaid shall be included unless repayment is credited prior to the close of business on the Business Day received. Each determination by Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.
Average Annual Compensation The Executive's "Average Annual Compensation" for purposes of this Agreement shall be deemed to mean the average level of compensation paid to the Executive by the Employers or any subsidiary thereof during the most recent five taxable years preceding the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of the Employers.
