Common use of Payment of Vacations Clause in Contracts

Payment of Vacations. ‌ (a) (i) Current vacation will be paid based upon the greater of either: a) an employee's rate of pay at the time the vacation is taken or, b) depending upon their vacation entitlements, the rate of 6%, 8%, 10%, 12%, etc., of their previous year's earnings. Previous year’s earnings will not include any a/v differential paid or EBP payments, in any form. The percentage rate applicable to any individual day of vacation entitlement is 0.4% per day. If necessary, an adjustment of vacation pay will be made to ensure that each employee received the greater amount of vacation pay from either the current rate (a) or percentage (b) calculations above. This adjustment (a/v differential) will be paid to all affected employees in two (2) payments. Approximately fifty percent (50%) will be paid on a designated pay day no later than the last pay day in April of each year, and the remainder will be paid on the pay day immediately prior to Christmas of each year. A/V differential will not be pro-rated for vacation deferred or banked.

Payment of Vacations. ‌ (a) (i) Current vacation will be paid based upon the greater of either: a) an employee's rate of pay at the time the vacation is taken or, b) depending upon their his/her vacation entitlements, the rate of 6%, 8%, 10%, 12%, etc., of their his/her previous year's earnings. Previous year’s earnings will not include any a/v differential paid or EBP payments, in any form. The percentage rate applicable to any individual day of vacation entitlement is 0.4% per day. If necessary, an adjustment of vacation pay will be made to ensure that each employee received the greater amount of vacation pay from either the current rate (a) or percentage (b) calculations above. This adjustment (a/v differential) will be paid to all affected employees in two (2) payments. Approximately fifty percent (50%) will be paid on a designated pay day no later than the last pay day in April of each year, and the remainder will be paid on the pay day immediately prior to Christmas of each year. A/V differential will not be pro-rated for vacation deferred or banked.

Payment of Vacations. ‌ (a) (i) Current vacation will be paid based upon the greater of either: a(1) an employee's ’s rate of pay at the time the vacation is taken or, b(2) depending upon their his/her vacation entitlements, the rate of 6%, 8%, 10%, 12%, etc., . of their his/her previous year's ’s earnings. Previous year’s earnings will not include any a/v differential paid or EBP payments, in any form. The percentage rate applicable to any individual day of excluding vacation entitlement is 0.4% per day. If necessary, an adjustment of vacation pay will be made to ensure that each employee received the greater amount of vacation pay from either the current rate (a1) or percentage (b2) calculations above. This adjustment (aA/v V differential) will be paid to all affected employees in two (2) payments. Approximately fifty percent (50%) will be paid on a designated pay day no later than the last pay day in April of each year, and the remainder will be paid on the pay day immediately prior to Christmas of each year. A/V differential will not be pro-rated for vacation deferred or banked.