Conversion of Vacation Entitlement Sample Clauses

Conversion of Vacation Entitlement. Prior to Retirement at Age 66 or Earlier (a) Under the conditions set out below, a Member may opt to convert (the "Conversion Option") one (1) week of annual vacation entitlement in each year preceding retirement (to a maximum of three [3]) into a one-time 2% salary increase based on the Member's salary in the immediately preceding salary year. The 2% increase will be calculated on the Member’s base salary immediately prior to the start of the salary year during which it takes effect. Both the salary increase and the reduction in vacation will be ongoing until the Member's retirement date. (b) The Member shall submit the Conversion Option to the Employer within three (3) years (or earlier) of his or her intended retirement date. The latest eligibility date for the Conversion Option shall be the Member's sixty-fifth birthday, with a retirement date no later than the end of the academic term (i.e., either 30 April, 31 August, or 31 December) during which the Member turns 66. (c) Where the Member notifies the Employer prior to the earliest eligibility date, the 2% salary increase shall take effect on the earliest eligibility date (three [3] years prior to the retirement date). Where the Member notifies the Employer after the earliest eligibility date, the 2% salary increase shall take effect on the first day of the month following such notification.
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Related to Conversion of Vacation Entitlement

  • Vacation Entitlement i) A transferring employee will accrue vacation in accordance with the collective agreement of the designated employer. ii) A transferring employee will have pre-approved vacation requests honoured. iii) Vacation entitlement not used by the employee at the time of transfer shall transfer with the employee to the designated employer, if applicable. iv) Vacation scheduling will be in accordance with the applicable collective agreement and the practice of the designated employer.

  • Annual Vacation Entitlement (a) An Employee shall be entitled to receive annual vacation leave with pay: (i) each year during their first forty-eight (48) months of service at the rate of one and one-quarter (1 1/4) days for each month of service; and (ii) each year after forty-eight (48) months of service at the rate of one and two-thirds (1 2/3) days for each month of service; and (iii) each year after one hundred and sixty-eight (168) months of service at the rate of two and one-twelfth (2-1/12) days for each month of service; and (iv) each year after two hundred and eighty-eight (288) months of service at the rate of two and one half (2 ½) days for each month of service. (b) An Employee who, as of February 19, 2001, has earned entitlement to more vacation than provided for in Article 17.01(a) of the collective agreement by virtue of their terms and conditions of employment with a predecessor employer shall retain that entitlement. Any future increase in vacation entitlement for such Employees shall be pursuant to Article 17.01(a).

  • Vacation Entitlement Upon Dismissal Employees dismissed for cause shall be paid their unused earned vacation allowance pursuant to Articles 28.01 and 28.02.

  • Call Back From Vacation (a) Employees who have commenced their annual vacation shall not be called back to work, except in cases of extreme emergency. (b) When, during any vacation period, an employee is recalled to duty, he/she shall be reimbursed for all expenses incurred thereby by himself/herself, in proceeding to his/her place of duty and in returning to the place from which he/she was recalled upon resumption of vacation, upon submission of receipts (except for meals) to the Employer. (c) Time necessary for travel in returning to his/her place of duty and returning again to the place from which he/she was recalled shall not be counted against his/her remaining vacation entitlement.

  • Callback from Vacation ‌ (a) Employees who have commenced their annual vacation shall not be called back to work, except in cases of extreme emergency. (b) When, during any vacation period, an employee is recalled to duty, he/she shall be reimbursed for all reasonable expenses incurred by himself/herself, in proceeding to his/her place of duty and in returning to the place from which he/she was recalled upon resumption of vacation, upon submission of receipts to the Employer. (c) Time necessary for travel in returning to his/her place of duty and returning again to the place from which he/she was recalled shall not be counted against his/her remaining vacation time.

  • Sick Leave Entitlement A permanent full-time employee shall earn paid sick leave at the rate of one and one-half (1½) days per month. Sick leave shall accumulate to a total of eighty-five (85) working days. Permanent part-time employees shall be entitled to sick leave on a pro-rata basis.

  • Accumulation of Vacation Leave For each month of a fiscal year in which an employee receives ten (10) days pay, he shall earn vacation leave at the following rates:

  • Entitlement to Benefits Notwithstanding the other provisions of this Agreement, a benefit under this Agreement shall not be granted in respect of an item of income if it is reasonable to conclude, having regard to all relevant facts and circumstances, that obtaining that benefit was one of the principal purposes of any arrangement or transaction that resulted directly or indirectly in that benefit, unless it is established that granting that benefit in these circumstances would be in accordance with the object and purpose of the relevant provisions of this Agreement.

  • Accrued Vacation It is further agreed by the parties hereto that, upon sale or transfer of ownership of any store or upon dissolution of business, vacation pay for all months worked for which no vacation pay has been given shall be immediately paid to all employees coming under this Agreement, regardless of length of time said employee has been with the Employer.

  • Benefits; Vacation Employee shall be eligible to receive all benefits as are available to similarly situated employees of Employer generally, and any other benefits that Employer may, in its sole discretion, elect to grant to Employee from time to time. In addition, Employee shall be entitled to four (4) weeks paid vacation per year, which shall be pro-rated for the first partial year of employment and shall accrue in accordance with Employer’s policies applicable to similarly situated employees of Employer.

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