Common use of Vacation Rate of Pay Clause in Contracts

Vacation Rate of Pay. a. Employees will be paid for each week of vacation the greater of: (1) forty (40) multiplied by the Base Rate of Pay of the Employee’s permanent job as of January 1 of the vacation year, or (2) two percent (2%) of their W-2 earnings excluding profit sharing payments during the preceding year (such amount Vacation Rate of Pay). b. The Daily Vacation Rate of Pay of each Employee shall be the Vacation Rate of Pay divided by five (5). c. The Hourly Vacation Rate of Pay of each Employee shall be the Vacation Rate of Pay divided by forty (40). d. Any Employee who did not work in the prior year shall have his/her Vacation Rate of Pay computed on the basis of his/her last calculated Rate.

Vacation Rate of Pay. a. Employees will be paid for each week of vacation the greater of: (1) forty (40) multiplied by the Base Rate of Pay of the Employee’s permanent job as of January 1 of the vacation year, or (2) two percent (2%) of their W-2 earnings excluding profit sharing payments during the preceding year (such amount Vacation Rate of Pay). b. The Daily Vacation Rate of Pay of each Employee shall be the Vacation Rate of Pay divided by five (5). c. The Hourly Vacation Rate of Pay of each Employee shall be the Vacation Rate of Pay divided by forty (40). d. Any Employee who did not work in the prior year shall have his/her Vacation Rate of Pay computed on the basis of his/her last calculated Rate.

Vacation Rate of Pay. a. Employees will be paid for each week of vacation the greater of: (1) forty (40) multiplied by the Base Regular Rate of Pay of the Employee’s permanent job as of January 1 of the vacation year, or (2) two percent (2%) of their W-2 earnings excluding profit sharing payments during the preceding year (such amount Vacation Rate of Pay). b. The Daily Vacation Rate of Pay of each Employee shall be the Vacation Rate of Pay divided by five (5). c. The Hourly Vacation Rate of Pay of each Employee shall be the Vacation Rate of Pay divided by forty (40). d. Any Employee who did not work in the prior year shall have his/her Vacation Rate of Pay computed on the basis of his/her last calculated Rate.

Vacation Rate of Pay. a. Employees will be paid for each week of vacation the greater of: (1) forty (40) multiplied by the Base hourly equivalent Salary Rate of Pay of the Employee’s permanent job as of January 1 1, of the vacation year, or (2) two percent (2%) of their W-2 earnings in the preceding year excluding profit sharing payments during the preceding year (such amount Vacation Rate of Pay). b. The Daily Vacation Rate of Pay of each Employee shall be the Vacation Rate of Pay divided by five (5). c. The Hourly Vacation Rate of Pay of each Employee shall be the Vacation Rate of Pay divided by forty (40). d. Any Employee who did not work in the prior year shall have his/her Vacation Rate of Pay computed on the basis of his/her last calculated Rate.

Vacation Rate of Pay. a. Employees will be paid for each week of vacation the greater of: (1) forty (40) multiplied by the Base Rate of Pay of the Employee’s permanent job as of January 1 1, of the vacation year, or (2) two percent (2%) of their W-2 earnings in the preceding year excluding profit sharing payments during the preceding year (such amount Vacation Rate of Pay). b. The Daily Vacation Rate of Pay of each Employee shall be the Vacation Rate of Pay divided by five (5). c. The Hourly Vacation Rate of Pay of each Employee shall be the Vacation Rate of Pay divided by forty (40). d. Any Employee who did not work in the prior year shall have his/her Vacation Rate of Pay computed on the basis of his/her last calculated Rate.