Computation for New Employees. With respect to new employees joining the Company’s service at any time subsequent to March 15 of the preceding benefit year, vacation credit accumulates from the fifteenth or first of the month, whichever occurs first after the date of the employee’s hire by the Company, and accumulates at the rate of three working days for the first six month’s period of service, or one-half of a working day per month, and thereafter commences to accumulate at the rate specified above for old employees. With respect to the initial vacation of such new employee, however, vacation credits shall be accumulated during the first year or portion of a year of service only to the following March 15th and thereafter credits for the succeeding year’s vacation shall commence to run. An employee who has been in the Company’s service for six months or more and who is absent or laid off for a consecutive period of not to exceed six months shall not, upon his/her rehire, be considered a new employee for the purposes of this clause; but will be entitled to vacation credits at the rate specified above for old employees. The term “accumulated service” when used for the purpose of computing vacation credit, shall include the period of absence due to lay-off, but shall not include the period of absence due to discharge or voluntary severance of employment by the employee; nor shall it include the period of absence due to illness, injury or other physical disability in excess of the maximum sick leave granted by Article XII, nor the period of leaves of absence in excess of that granted by Article XI of this Agreement.
