Common use of VACATION & HOLIDAY PAY Clause in Contracts

VACATION & HOLIDAY PAY. 12.01 Vacation and statutory holiday credits shall be paid to employees covered by this Agreement at the rate of ten percent (10%) of the gross wages earned. For tax purposes, such credits shall be added to the employees weekly pay and taxed prior to deduction. It is understood and agreed that five percent (5%) of the gross wages is to be considered in lieu of statutory holiday pay. 12.02 Vacation pay and statutory holiday pay shall be paid to employees in the last pay period in July each year, in the first pay period in December each year, and on termination. 12.03 Employees shall receive two (2) times their regular hourly rate of pay for all hours worked on a statutory holiday.

VACATION & HOLIDAY PAY. 12.01 10.01 Vacation and statutory holiday credits shall be paid to employees covered by this Agreement at the rate of ten percent (10%) of the gross wages earned. For tax purposes, such credits shall be added to the employees weekly pay and taxed prior to deduction. It is understood and agreed that five percent (5%) of the gross wages is to be considered in lieu of statutory holiday pay. 12.02 10.02 Vacation pay and statutory holiday pay shall be paid to employees in on each pay cheque for all piece work or hours worked during the last pay period in July each year, in the first pay period in December each year, and on terminationperiod. 12.03 10.03 Employees shall receive two (2) times their regular hourly rate of pay for all hours worked on a statutory holiday.