Common Contracts
1 similar Deferred Salary Leave Agreement contracts
PROCEDUREDeferred Salary Leave Agreement • May 22nd, 2007
The Board of Trustees and the Vernon Teachers’ Association entered into an agreement on the implementation and procedures for a deferred salary leave plan on 29 February, 1980. This agreement was based upon an Income Tax Ruling obtained from the federal tax department of the day. Subsequent to the implementation of the Plan, on July 28, 1986, the Federal Government proclaimed specific Income Tax Regulations to govern such plans. These regulations proscribe the conditions under which such plans may operate. The Board of Trustees and The Vernon Teachers’ Association therefore have agreed to redraft the agreement to reflect current Income Tax Regulations.
