VACATION WITH PAY AND STATUTORY HOLIDAY PAY TRUST FUND Sample Clauses

VACATION WITH PAY AND STATUTORY HOLIDAY PAY TRUST FUND. Vacation and statutory holiday pay credits shall be paid to employees covered by this Collective Agreement at the rate of ten percent (10%) of the gross wage earned.
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VACATION WITH PAY AND STATUTORY HOLIDAY PAY TRUST FUND. 8.01 Vacation and statutory holiday pay credits shall be paid to employees covered by this Collective Agreement at the rate of ten percent (10%) of the gross wage earned. 8.02 It is understood and agreed that five percent (5%) of the gross wages is to be considered in lieu of statutory holiday pay. Payments here under to employees in Labourers’ classifications shall be made in accordance with the following. 8.03 Vacation and statutory holiday pay as aforesaid for employees in Labourers’ classifications shall be paid into a Vacation with Pay Trust Fund which will be jointly administered by an equal number of Employers and Union Trustees. It is understood that the surplus of said Trust Fund will be: .01 firstly, applied against the administration costs of the Fund; .02 secondly, applied towards creating a reasonable reserve to be established by the Trustees based on past efficiencies; .03 thirdly, paid to the Association and the Union on an equal basis annually and prorated on the basis of contributions into the Fund made by all utility contractors covered by this Collective Agreement. Payments into the Fund shall be made by the fifteenth (15th) day of the month following the month for which payment is due.

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  • VACATION WITH PAY a) Employees are entitled to annual vacation and annual vacation pay according to their completed years of consecutive service. The vacation year shall be January 1st to December 31st. After December 31st of their first year of employment, employees will be considered to have completed their first year of service. This is counted as the first year when calculating their vacation with pay entitlement. b) Annual vacations are awarded to the employee prior to their being earned. Where an employee terminates or is terminated prior to the end of the vacation year and the employee has taken vacation in excess of the amount earned, the Credit Union shall recover pay for the unearned vacation taken. c) Full Time employee's vacation entitlement and vacation pay shall be calculated according to their completed years of consecutive service, governed by a common anniversary date of January 1st. Part Time employees shall have their vacation entitlement calculated according to their completed years of consecutive service, but their vacation pay will be prorated accordingly. d) Vacation entitlement and vacation pay is pro-rated for new employees. (i) A Full Time employee who has completed their probation period shall be entitled to vacation and vacation pay prorated according to the number of months of full service in their first year. (ii) A Part Time employee who has completed their probation period shall be entitled to vacation and vacation pay prorated according to the ratio of their scheduled hours to the average monthly full time hours in their first year. (iii) After December 31st of their first year of employment, employees will be considered to have completed their first year of service. e) A Part Time employee becoming Full Time will retain their vacation entitlement. Vacation pay will be prorated according to their full months Part Time service and the portion of Full Time service in the year of the status change. Thereafter, the new Full Time employee shall have their vacation entitlement and vacation pay calculated as any regular Full Time employee.

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  • Holiday Coinciding with a Day of Vacation Where an employee is on vacation leave and a day of paid holiday falls within that period, the paid holiday shall not count as a day of vacation.

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  • VACATION LEAVE WITH PAY 14.01 The vacation year shall be from April 1st of one calendar year to March 31st of the following calendar year inclusive.

  • Eligibility for Holiday Pay A. An employee must be paid for all or a portion of both the regularly scheduled working assignment immediately prior to a holiday and the regularly scheduled working assignment immediately after that holiday in order to receive holiday pay. With County approval, compensatory time earned for working on a holiday or for a holiday falling on a regularly scheduled day off may be taken on the first scheduled working day after the holiday. B. A new employee whose first working day is the day after a holiday shall not be paid for that holiday. C. An employee who elects paid County retirement on a holiday shall be paid for the holiday. D. An employee who is terminating employment for reasons other than paid County retirement and whose last day as a paid employee is the day before a holiday shall not be paid for that holiday. E. Only regular, limited-term and probationary employees shall be eligible for holiday pay.

  • Vacation Pay on Termination An employee whose employment is terminated shall receive vacation pay at the appropriate percentage of the wages or salary earned during the period of entitlement in accordance with the employee's years of service.

  • Entitlement to Vacation Leave With Pay An employee is entitled to vacation leave with pay to the extent of his earned credits but an employee who has completed six (6) months of continuous employment may receive an advance of credits equivalent to the anticipated credits for the vacation year.

  • Holiday Pay A. On each of the holidays designated above, each full-time employee scheduled to work but permitted to take the day off shall receive pay computed at the employee's basic hourly rate for the number of hours the employee was regularly scheduled to work. B. On each of the holidays designated above, each part-time employee scheduled to work but permitted to take the day off shall receive pay computed at the employee’s basic hourly rate for the number of hours the employee was regularly scheduled to work.

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