Vacation Pay and Statutory Pay. (a) The Employer agrees to pay four (4%) Vacation Pay and six (6%) Statutory Holiday Pay, for a total of ten (10%) on gross wages earned by each employee paid on an hourly basis. (b) It is further agreed that the vacation pay shall be remitted to the Vacation Trust Fund Administrators by the twentieth (20th) day of the month following the month in which the hours were worked. (c) The interest accrued from the monies in the Vacation Pay Fund shall be used as follows, and in the following order of priority: a. To defray the cost of administering the Vacation Pay Fund. b. To make good Vacation Pay Fund monies defaulted by any Employer. c. To accrue to the benefit of, and be paid to the Association and the Union at intervals to be determined by the Trustees.
Appears in 7 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
