Funding for Leave of Absence. Funding for the Leave of Absence shall be as follows: 3.1 During each year of the deferral period, the participant will receive his/her current compensation amount, less the percentage amount to be retained by the board which was specified by the participant in the Memorandum of Agreement and less statutory and other legal or contractual deductions. Such percentage amount may be varied, subject to clause 3.2, by giving written notice to the board at least one (1) month prior to the requested change. The board shall not be obligated to accommodate more than one request each school year for a change to the deferral amount. 3.2 The percentage of the annual current compensation amount deferred by the participant cannot exceed thirty-three and one third (33 1/3) per cent.
Appears in 3 contracts
Samples: Collective Agreement, Collective Bargaining Agreement, Collective Agreement
Funding for Leave of Absence. Funding for the Leave of Absence shall be as follows:
3.1 During each year of the deferral period, the participant will receive his/her their current compensation amount, less the percentage amount to be retained by the board which was specified by the participant in the Memorandum of Agreement and less statutory and other legal or contractual deductions. Such percentage amount may be varied, subject to clause 3.2, by giving written notice to the board at least one
(1) month prior to the requested change. The board shall not be obligated to accommodate more than one request each school year for a change to the deferral amount.
3.2 The percentage of the annual current compensation amount deferred by the participant cannot exceed thirty-three and one third (33 1/3) per cent.
Appears in 2 contracts
Samples: Collective Agreement, Collective Agreement
