Common use of Formula Clause in Contracts

Formula. An Employee's annual leave accrual shall be based upon a fraction of an hour accrual for each of the standard annual work hours schedule (e.g. 2080 hours for a 40 hour per week employee) as shown below in column 2: Column 1 Column 2 Column 3 Column 4 Years of Hourly Monthly Annual Continuous Accrual Accrual Accrual Service 0 thru 5 .0500 hrs. 8.67 hrs. 104 hrs. 6 thru 10 .0615 hrs. 10.67 hrs. 128 hrs. 11 thru 15 .0731 hrs. 12.67 hrs. 152 hrs. 16 thru 20 .0923 hrs. 16 hrs. 192 hrs. 21 thru 25 .1000 hrs. 17.33 hrs. 208 hrs. Over 25 years .104 hrs. 18.03hrs. 216 hrs. MAXIMUM ACCRUAL ALLOWABLE: Effective upon the signing of the Agreement, the maximum accrual rate shall be two and a half times the annual accrual rate in hours for employees with 0 thru 15 years of continuous service. The maximum accrual rate shall be two and three quarters times the annual accrual rate in hours, for employees with 16 thru 25+ years of continuous service.

Formula. An Employee's annual leave accrual shall be based upon a fraction of an hour accrual for each of the standard annual work hours schedule (e.g. 2080 hours for a 40 hour per week employee) as shown below in column 2: Column 1 Column 2 Column 3 Column 4 Years of Hourly Monthly Annual Continuous Accrual Accrual Accrual Service 0 thru 1 .0462 hrs. 8.0 hrs. 96 hrs. 2 thru 5 .0500 hrs. 8.67 hrs. 104 hrs. 6 thru 10 .0615 hrs. 10.67 hrs. 128 hrs. 11 thru 15 .0731 hrs. 12.67 hrs. 152 hrs. 16 thru 20 .0923 .0846 hrs. 16 14.67 hrs. 192 176 hrs. 21 thru 25 .0962 hrs. 16.67 hrs. 200 hrs. Over 25 years .1000 hrs. 17.33 hrs. 208 hrs. Over 25 years .104 hrs. 18.03hrs. 216 hrs. MAXIMUM ACCRUAL ALLOWABLE: Effective upon the signing of the Agreement, the The maximum accrual rate shall be two and a half times the annual accrual rate in hours for employees with 0 thru 15 years of continuous service. The maximum accrual rate shall be two and three quarters times the annual accrual rate in hours, for employees with 16 thru 25+ years of continuous service.

Formula. An Employee's ’s annual leave accrual shall be based upon a fraction of an hour accrual for each of the standard annual work hours schedule (e.g. 2080 hours for a 40 hour per week employee) as shown below in column 2: Column 1 Column 2 Column 3 Column 4 Years of Hourly Monthly Annual Continuous Accrual Accrual Accrual Service 0 thru 5 .0500 hrs. 8.67 hrs. 104 hrs. 6 thru 10 .0615 hrs. 10.67 hrs. 128 hrs. 11 thru 15 .0731 hrs. 12.67 hrs. 152 hrs. 16 thru 20 .0923 hrs. 16 hrs. 192 hrs. 21 thru 25 .1000 hrs. 17.33 hrs. 208 hrs. Over 25 years .104 hrs. 18.03hrs. 216 hrs. MAXIMUM ACCRUAL ALLOWABLE: Effective upon the signing of the Agreement, the The maximum accrual rate shall be two and a half times the annual accrual rate in hours for employees with 0 thru 15 years of continuous service. The maximum accrual rate shall be two and three quarters times the annual accrual rate in hours, for employees with 16 thru 25+ years of continuous service.

Formula. An Employee's annual leave accrual shall be based upon a fraction of an hour accrual for each of the standard annual work hours schedule (e.g. 2080 hours for a 40 hour per week employee) as shown below in column 2: Column 1 Column 2 Column 3 Column 4 Years of Hourly Monthly Annual Continuous Accrual Accrual Accrual Service 0 thru 5 .0500 hrs. 8.67 hrs. 104 hrs. 6 thru 10 .0615 hrs. 10.67 hrs. 128 hrs. 11 thru 15 .0731 hrs. 12.67 hrs. 152 hrs. 16 thru 20 .0923 hrs. 16 hrs. 192 hrs. 21 thru 25 .1000 hrs. 17.33 hrs. 208 hrs. Over 25 years .104 hrs. 18.03hrs. 216 hrs. MAXIMUM ACCRUAL ALLOWABLE: Effective upon the signing of the Agreement, the The maximum accrual rate shall be two and a half times the annual accrual rate in hours for employees with 0 thru 15 years of continuous service. The maximum accrual rate shall be two and three quarters times the annual accrual rate in hours, for employees with 16 thru 25+ years of continuous service.