Service Vacations. In addition to his annual vacation, each employee who completes continuous service of twenty-five years shall be entitled to a service vacation of three weeks with pay. Pay will be calculated at the employee's basic rate in effect on the day of his entitlement. Each employee shall be similarly entitled to such service vacation upon completion of each five-year period of continuous service subsequent to date of his/her first entitlement. Each employee who under this Article has become entitled to a service vacation shall take this vacation at a time approved by the Company during the year of entitlement or the three year period immediately following the year of entitlement. This vacation may be taken in one-week blocks. An employee who is entitled to service vacation may waive taking any week of service vacation by signing an irrevocable waiver and presenting it to the Company. When such employee retires, he/she will be paid a lump sum amount equal to forty (40) hours pay for each week which was waived at his basic rate in effect on the date of his/her retirement. or An employee may request to waive any week (s) of service vacation to which they are entitled by signing an irrevocable waiver to the human resources department. Payment for each week (s) waived will be provided at the employee’s basis rate in effect at time of entitlement X 40 hours
Service Vacations. In addition to his annual vacation, each employee who completes continuous service of twenty-five years shall be entitled to a service vacation of three weeks with pay. Pay will be calculated at the em- ployee’s basic rate in effect on the day of his entitlement. Each employee shall be similarly entitled to such ser- vice vacation upon completion of each five-year pe- riod of continuous service subsequent to date of his/ her first entitlement. Each employee who under this Article has become entitled to a service vacation shall take this vacation at a time approved by the Company during the year of entitlement or the three year period immediately fol- lowing the year of entitlement. This vacation may be taken in one-week blocks. An employee who is entitled to service vacation may waive taking any week of service vacation by signing an irrevocable waiver and presenting it to the Compa- ny. When such employee retires, he/she will be paid a lump sum amount equal to forty (40) hours pay for each week which was waived at his basic rate in ef- fect on the date of his/her retirement. or An employee may request to waive any week (s) of service vacation to which they are entitled by signing an irrevocable waiver to the human resources depart- ment. Payment for each week (s) waived will be pro- vided at the employee’s basis rate in effect at time of entitlement X 40 hours
