Vacation supplement Sample Clauses

Vacation supplement. Vacation supplement for each holiday reference year (1 May to 30 April), based on full-time employment, shall be as follows: In the holiday-reference year starting 1 May 2014, the vacation supplement shall be ISK 39,500 . In the holiday-reference year starting 1 May 2015, the vacation supplement shall be ISK 42,000 . In the holiday-reference year starting 1 May 2016, the vacation supplement shall be ISK 44,500 . In the holiday-reference year starting 1 May 2017, the vacation supplement shall be ISK 46,500 . In the holiday-reference year starting 1 May 2018, the vacation supplement shall be ISK 48,000 . Full-time work, in this context, is deemed to be 45 or more worked weeks out- side of vacation . This bonus shall be paid no later than 1 June each year, based on the employee’s job proportion and length of employment, to all workers who have been in continuous employment for the same employer for 12 weeks during the previous 12 months, counting from 30 April, or are in employment during the first week of May . The December supplement is a fixed figure and is not subject to wage changes under other provisions . Accrued December bonus shall be paid out to workers when they leave the company if this occurs before the payment date for the December bonus .‌
Sample 1
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Vacation supplement. In the year when an employee reaches 25 years of service, he/she will be entitled to one additional week of vacation for that year. The week is defined as 36% hours or 40 hours according to the normal work week of the employee.
Sample 1
Vacation supplement. Employees who are covered by the agreement referred to Chapter I § 1, receive a vacation supplement of 1.25 per cent for each paid vacation day, calculated on the For variable salary components, the supplement is calculated on 1/12th of the financial year’s or previous year’s variable salary. If the salary system is altered, measures shall be taken to ensure that there is no over/under-compensation. For hourly wages, the supplement shall be calculated as (159 x hourly wage x hours worked x 0.096 x 0.0125)
Sample 1
Vacation supplement. In the middle of May each year, an employee who is currently working and has worked full time for the company for a whole holiday-reference year or longer, shall receive a full vacation supplement, or a percentage of it relative to the period of service to May 1st. Vacation supplement from 1 May 2019: ISK 126,000 (76,000 already paid) Vacation supplement from 1 May 2020: ISK 160,000 Vacation supplement from 1 May 2021: ISK 180,000 Vacation supplement from 1 May 2022: ISK 200,000 An employee, who stops working during the year because of age or after at least 4 continuous months of work during the holiday-reference year, shall, upon termination of work, be paid a holiday supplement, based on work hours and employment ratio worked during the year.
Sample 1

Related to Vacation supplement

  • Vacation; Sick Leave During the Employment Term, the Executive shall be entitled to not less than four (4) weeks of vacation during each calendar year and sick leave in accordance with the Company’s policies and practices with respect to its executives.

  • Vacation Schedules (a) Completed vacation schedules will be posted by April 30th of each year. The schedule will be circulated commencing February 1st of the same year. (b) An employee who does not exercise her seniority rights within two (2) weeks of receiving the vacation schedule, shall not be entitled to exercise those rights in respect to any vacation time previously selected by an employee with less seniority. (c) An employee who relocates to another work location where the vacation schedule has already been completed will not be entitled to exercise her seniority rights for that year only. However, every effort shall be made to grant vacation at the time of the employee's choice.

  • Vacation; Paid Time Off During the Employment Term, the Executive shall be entitled to paid vacation in accordance with the Company’s vacation policies, as in effect from time to time. The Executive shall receive other paid time-off in accordance with applicable law and the Company’s policies for executive officers as such policies may exist from time to time.

  • Reinstatement of Vacation Days - Sick Leave In the event an employee is sick or injured prior to the commencement of his/her vacation, such employee shall be granted sick leave and the vacation period so displaced shall be added to the vacation period if requested by the employee and by mutual agreement, or shall be reinstated for use at a later date.

  • Vacation Schedule 1. Vacation periods shall be fixed by the Employer to suit the requirements of his business, but as far as possible and practicable, vacations will be given during the summer months, and for employees with school-age children, during the school vacations. Vacation periods shall be unbroken unless by mutual consent between Employer and employee, or where it is impractical. Grievances relating to this Section shall be subject to the Adjustment and Arbitration Procedure in this Agreement. 2. Time off, based upon service in the Industry Vacation Plan, may be granted to an employee by mutual agreement between the Employer and the employee. The Employer shall not be required to give time off based upon service under the Industry Vacation Plan. However, if such additional industry vacation time off is granted to an employee, such time off shall be counted as time worked for the purpose of computing the employee's earned vacation benefits on his next anniversary date of employment.

  • Vacation Time After the Trial Period is complete, the Employee is entitled to days off per year of which is required to be mutually benefiting of the Employer and the Employee. It is required for the Employee to give notice before scheduling their vacation in accordance with Company policy.

  • Vacation Eligibility Subject to the provisions of Sections 3., 4., 8., and 9. hereof, vacations with pay shall be granted during the vacation year to each employee, except upon dismissal for misconduct, who shall have completed a period of six (6)-months’ employment since date of engagement or reengagement, whichever is later, and who has performed work for the Company within the vacation year, as follows: a. One (1) week’s vacation to any such employee who has completed six (6) months or more but less than twelve

  • Vacation and Paid Time Off The Executive shall be entitled to vacation and paid time off in accordance with the standard policies of the Company for executives as in effect from time to time.

  • VACATION PLAN 2 All employees in the bargaining unit shall earn paid vacation time 3 under this Article. Vacation benefits are earned on a fiscal year 4 basis--July 1 to June 30. 5 8.1 Unit members are entitled to vacation with pay at the rates 6 to be found in the following schedule: 7 8.1.1 . 83 of a day for each month worked during the first 8 three (3) years.

  • Vacation and Sick Leave During the Term, Executive shall be entitled to (a) sick leave in accordance with the Company’s policies applicable to similarly situated executive officers of the Company from time to time and (b) 4 weeks paid vacation each calendar year (up to 40 hours of which may be carried forward to a succeeding year).

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