Common use of Vacation Pay Adjustment Clause in Contracts

Vacation Pay Adjustment. The Vacation Pay Adjustment payment makes up for the difference, if any, between what has been paid by the company during a year and four (4)% of annual earnings to employees who have less than six (6) consecutive years of service, or six (6)% of annual earnings to those who have six (6) or more consecutive years of service. For this calculation, annual earnings include job related compensation payments. It does not include termination allowances and other such earnings.

Vacation Pay Adjustment. The Vacation Pay Adjustment payment makes up for the difference, if any, between what has been paid by the company during a year and four (4)% of annual earnings earning to employees who have less than six (6) 6)% consecutive years of service, or six (6)% of annual earnings to those who have six (6) or more consecutive years of service. For this calculation, annual earnings include job related compensation payments. It does not include termination allowances and other such earnings.

Vacation Pay Adjustment. The Vacation Pay Adjustment payment makes up for the difference, if any, between what has been paid by the company during a year and four (4)% of annual earnings to employees who have less than six (6) consecutive years of service, or six (6)% of annual earnings to those who have six (6) or more consecutive years of service. For this calculation, annual earnings include job related compensation payments. It does not include termination allowances and other such earningsearning.