Example of contract. If the deferral years are established at two years and the Sabbatical at 6 months, the contract will be for a period of 2 ½ years. During the two year deferral the applicants will be compensated at 80% of their basic weekly rate of pay. During their Sabbatical they will be compensated at 80%. Hereunder, is a table explaining the various type of deferral years based on 9 months to 5 year periods and Sabbatical based on a Sabbatical of 3 to 9 months. Deferral Period Length of Sabbatical 3 Months 6 Months 9 Months 9 months 75% 2 yrs 89% 80% 73% 3 yrs 92% 86% 80% 4 yrs 89% 84% 5 yrs 91% 87%
Example of contract. If the deferral years are established at two years and the Sabbatical at months, the contract will be for a period of years. During the two year deferral the applicants will be compensated at of their basic weekly rate of pay. During their Sabbatical they will be compensated at Hereunder, is a table explaining the various type of deferral years based on months to year periods and Sabbatical based on a Sabbatical of to months. Deferral Period Length of Sabbatical Except as provided below, employees under Contract will be afforded all work benefits normally afforded to other permanent employees including the accumulation of seniority and service. Employees under Sabbatical will be paid through the Direct Deposit System. General Holiday falling within the period of Sabbatical will be considered as making part of the Sabbatical and will not be reimbursed by the Company. Employees on Sabbatical will count in the calculation of annual vacation for the following year and such time will count for Pension purposes. Time spent on Sabbatical will count in the calculation of annual vacation for the following year and such time will count for Pension purposes. At the completion of the Sabbatical, employees will be reinstated in accordance with and conditions of the Collective Agreement. The concept of Sabbatical leave of absence should not be used as leave of absence nor should it be used as experience working for another employee. Contributions retained by the Company, through payroll deduction will be held in trust in a Financial institution selected by the Company and any interest accumulated will be retained by the Company to offset any administrative fees or additional costs associated with payment of benefit premiums.
