Common use of COST OF LIVING ALLOWANCE (COLA) Clause in Contracts

COST OF LIVING ALLOWANCE (COLA). Employees working at the Halifax airport will receive a COLA bonus of forty-three cents ($0.43) per hour worked. For the purposes of calculating the bonus set out by this letter of understanding, only the following hours will be utilized: Regular hours worked, Overtime hours (paid at the regular premium rate), Worked Statutory Holidays (paid at the regular premium rate), Paid sick leave, Paid bereavement leave and other paid leaves of absence. Vacation Pay, Statutory Holiday Pay and unpaid leaves of absences will not be utilized. Letter of Understanding # 1

COST OF LIVING ALLOWANCE (COLA). Employees working at the Halifax airport will receive a COLA bonus of forty-three cents ($0.43) per hour worked. For the purposes of calculating the bonus set out by this letter of understanding, only the following hours will be utilized: Regular hours worked, Overtime hours (paid at the regular premium rate), Worked Statutory Holidays (paid at the regular premium rate), Paid sick leave, Paid bereavement leave and other paid leaves of absence. Vacation Pay, Statutory Holiday Pay and unpaid leaves of absences will not be utilized. Letter of Understanding LETTER OF UNDERSTANDING # 1