Percentage in Lieu of Benefits Payment. (a) Commencing the first of the month following or coincident with the completion of three (3) months of continuous employment, a part-time Employee or term Employee who is employed for a term of less than one year’s duration shall receive in lieu of all fringe benefits (being those benefits to an Employee, paid in whole or part by the Employer, as part of direct compensation or otherwise, including holiday pay, SUB payments and pension, save and except salary and vacation pay) an amount equal to thirteen percent (13%) of his regular straight time hourly rate for all straight time hours paid. (b) For part time employees who are members of the Hospitals of Ontario Pension Plan, the percentage in lieu of benefits outlined in paragraph (a) above will be reduced to nine percent (9%). (c) It is understood and agreed that the employee’s hourly rate (or straight time hourly rate) in this Agreement does not include the percentage in lieu of benefit payment as applicable which is paid in lieu of fringe benefits. Accordingly the applicable percentage in lieu of benefits payment in lieu of fringe benefits will not be included for the purpose of computing any premium or overtime payments. (d) This Article will not apply to the employees listed in Schedule “B” in accordance with the terms described thereunder.
Appears in 6 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
