Common use of Vacation During Transition Years Clause in Contracts

Vacation During Transition Years. A “transition year” shall mean the fiscal year in which the employee becomes entitled to earn vacation at a higher rate. Vacation entitlement during a transition year shall be calculated as follows: (# of calendar months from April 1 to the month preceding the month in which the employee becomes entitled to earn vacation at the higher rate X Monthly rate of earning vacation) + (# of calendar months from the month in which the employee becomes entitled to earn vacation at the higher rate to March 31 X Higher Monthly rate of earning vacation) = Vacation entitlement for Transition Year (example – employee will complete 6th year of employment in July of current fiscal year. April 1 to June is 3 months; July to March 31 is 9 months. Therefore, as of April 1 the employee will be credited with: (3 X 1 ¼ vacation days) + (9 X 1 2/3rds vacation days) = 18 ¾ days

Vacation During Transition Years. A “transition year” shall mean the fiscal year in which the employee becomes entitled to earn vacation at a higher rate. Vacation entitlement during a transition year shall be calculated as follows: (# of calendar months from April 1 to the month preceding the month in which the employee becomes entitled to earn vacation at the higher rate X Monthly rate of earning vacation) + (# of calendar months from the month in which the employee becomes entitled to earn vacation at the higher rate to March 31 X Higher Monthly rate of earning vacation) = Vacation entitlement for Transition Year (example – employee will complete 6th year of employment in July of current fiscal year. April 1 to June is 3 months; July to March 31 is 9 months. Therefore, as of April 1 the employee will be credited with: (3 X 1 ¼ vacation days) + (9 X 1 2/3rds 2/3 vacation days) = 18 ¾ days

Vacation During Transition Years. A “transition year” shall mean the fiscal year in which the employee becomes entitled to earn vacation at a higher rate. Vacation entitlement during a transition year shall be calculated as follows: (# of calendar months from April 1 to the month preceding the month in which the employee becomes entitled to earn vacation at the higher rate X Monthly rate of earning vacation) + (# of calendar months from the month in which the employee becomes entitled to earn vacation at the higher rate to March 31 X Higher Monthly rate of earning vacation) = Vacation entitlement for Transition Year (example – employee will complete 6th year of employment in July of current fiscal year. April 1 to June is 3 months; July to March 31 is 9 months. Therefore, as of April 1 the employee will be credited with: (3 X 1 ¼ vacation days) + (9 X 1 2/3rds 2/3 vacation days) = 18 ¾ days

Vacation During Transition Years. A “transition year” shall mean the fiscal year in which the employee becomes entitled to earn vacation at a higher rate. Vacation entitlement during a transition year shall be calculated as follows: (# of calendar months from April 1 to the month preceding the month in which the employee becomes entitled to earn vacation at the higher rate X Monthly rate of earning vacation) + (# of calendar months from the month in which the employee becomes entitled to earn vacation at the higher rate to March 31 X Higher Monthly rate of earning vacation) = Vacation entitlement for Transition Year (example – employee will complete 6th year of employment in July of current fiscal year. April 1 to June is 3 months; July to March 31 is 9 months. Therefore, as of April 1 the employee will be credited with: (3 X 1 ¼ vacation days) + (9 X 1 2/3rds vacation days) = 18 ¾ days

Vacation During Transition Years. A “transition year” shall mean the fiscal year in which the employee becomes entitled to earn vacation at a higher rate. Vacation entitlement during a transition year shall be calculated as follows: (# of calendar months from April 1 to the month preceding the month in which the employee becomes entitled to earn vacation at the higher rate X Monthly rate of earning vacation) + (# of calendar months from the month in which the employee becomes entitled to earn vacation at the higher rate to March 31 X Higher Monthly rate of earning vacation) = Vacation entitlement for Transition Year (example – employee Employee will complete 6th year of employment in July of current fiscal year. April 1 to June is 3 months; July to March 31 is 9 months. Therefore, as of April 1 the employee will be credited with: (3 X 1 ¼ vacation days) + (9 X 1 2/3rds vacation days) = 18 ¾ days