Method of Calculating Vacation Pay. Vacation pay for each week of vacation for employees shall be the normal weekly hours at the regular rate, provided that this amount will be reduced by one fifty-second (1/52nd) for each week of absence excepting absences which are:
Method of Calculating Vacation Pay. Vacation pay for each week of vacation (excluding vacation pay for first vacation under 21.02) for employees will be the greater of 2.1% of the previous years earnings as reported on the employee's T-4 slips or the normal weekly hours at the regular straight time rate (exclusive of shift or other premiums) reduced by one fifty-second (1/52nd) for each week of absence,excepting absences which are:
Method of Calculating Vacation Pay lst Year - Calculated at four percent (4%) of earnings between date of hiring and December 31st of the same year, but not payable until reaching first anniversary date. Subsequent Entitlements - Pay for each week of holiday entitlement shall be on the basis of forty (40) hours pay at the employee's regular hourly rate or two percent (2%) of gross earnings for each week of holidays, whichever is the greater. The calculation of the percentage amount is based on the gross earnings in the previous calendar year.
