– DEFFERED VACATION ENTITLEMENT Clause Samples

– DEFFERED VACATION ENTITLEMENT. (6)3.1 The City and the Union agree that entitlement to vacation with pay was changed from a system of calculation in arrears to a system of calculation by current service, effective the 1st day of January 1977. (6)3.2 The City therefore agrees that each employee who was employed by the City the 1st day of January 1977, and who has continued to be so employed is entitled to a One Year Vacation Entitlement (“OYVE”) or its monetary equivalent. (6)3.3 The OYVE is an amount of vacation with pay equal to the entitlement to vacation with pay granted by Section (6)2 of this clause in the year in which the OYVE is taken. (6)3.4 The monetary equivalent to the OYVE is the number of weeks calculated in Sub-Section (6)3.3 multiplied by the current rate of pay of the employee at the time at which the monetary equivalent of the OYVE is paid. (6)3.5 At the request of an employee, and with the consent of the City, the employee may take the whole of the OYVE as vacation with pay in addition to the employee’s entitlement to vacation under Section (6)2. (6)3.6 At the request of an employee, but subject to the provision of Subsection (6)3.7, the City will pay to the employee or as directed the monetary equivalent to the OYVE. (6)3.7 With respect to applications by employees pursuant to Subsection (6)3.6: 3.7.1 Applications will be considered on or immediately after the 31st of March in each year, and must be filed with the City on or before the 23rd of March. 3.7.2 Applications will be granted in order of seniority. 3.7.3 Applications will be granted until the money budgeted by the City in the year (if any) for the purpose of OYVE payouts has been exhausted, and thereafter, no further applications will be granted in the year. 3.7.4 The amount of money to be budgeted by the City in any year for the purpose of OYVE payouts is solely and entirely in the discretion of the City. 3.7.5 Payments made pursuant to Subsection (6)3.6 are conclusively deemed to have been paid on the 31st of March in the year of payment. (6)3.8 On the death, retirement or termination of an employee, the City will pay the monetary equivalent of the OYVE to the employee or personal representative or as directed, and the provisions of Subsection (6)3.7 will not apply.