Common use of Percentage in Lieu of Benefits Payment Clause in Contracts

Percentage in Lieu of Benefits Payment. Commencing the first of the month following or coincident with the completion of three (3) months of continuous employment, a part-time Employee who regularly works less than twenty-one (21) hours per week 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 Hospital, as part of direct compensation or otherwise, including holiday pay, pregnancy SUB payments and pension, save and except salary and vacation pay) an amount equal to thirteen (13%) percent of his regular straight time hourly rate for all straight time hours paid. Subject to the terms and conditions of the HOOPP, any part-time Employee who is eligible may elect to participate in the Pension Plan. A part-time Employee who elects to participate in the pension plan shall have her percentage in lieu of benefits payment reduced by 4%. It is understood and agreed that the part-time Employee's hourly rate (or straight time hourly rate) in this Agreement does not include the percentage in lieu of benefits 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.

Percentage in Lieu of Benefits Payment. Commencing the first of the month following or coincident with the completion of three (3) months of continuous employment, a part-time Employee who regularly works less than twenty-one (21) hours per week or term Employee who is employed for a term of less than one year’s year‟s duration shall receive in lieu of all fringe benefits (being those benefits to an Employee, paid in whole or part by the Hospital, as part of direct compensation or otherwise, including holiday pay, pregnancy SUB payments and pension, save and except salary and vacation pay) an amount equal to thirteen (13%) percent of his regular straight time hourly rate for all straight time hours paid. Subject to the terms and conditions of the HOOPP, any part-time Employee who is eligible may elect to participate in the Pension Plan. A part-time Employee who elects to participate in the pension plan shall have her percentage in lieu of benefits payment reduced by 4%. It is understood and agreed that the part-time Employee's hourly rate (or straight time hourly rate) in this Agreement does not include the percentage in lieu of benefits 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.