Common use of Pre-Paid Leave Clause in Contracts

Pre-Paid Leave. The Employer agrees to a pre-paid leave program, funded solely by the employee, subject to the following terms and conditions: (a) The plan is available to employees wishing to spread four (4) years’ salary over a five (5) year period, in accordance with Part LXVIII of the Income Tax Regulations, Section 6801, to enable them to take a one (1) year leave of absence following the four (4) years of salary deferral. (b) The employee must make written application to her Supervisor at least six

Pre-Paid Leave. The Employer agrees to introduce a pre-paid leave program, funded solely by the employee, subject to the following terms and conditions: (a) The plan is available to employees wishing to spread four (4) years’ salary over a five (5) year period, in accordance with Part LXVIII of the Income Tax Regulations, Section 6801, to enable them to take period or three (3) years’ salary over a one (1) year leave of absence following the four (4) years of salary deferral. (b) The employee must make written application to her Supervisor at least sixfour