Common use of Accrual Formula Clause in Contracts

Accrual Formula. In Section 25.01 above, the following accrual formula shall apply: a. New employees: Following completion of ninety (90) day probationary period vacation equivalent to the pro rata accrual for the months from date of hire to December 31 will be available to employee. • Example: In hire date: January 1 - June 30 2 weeks vacation July 1 - December 31 12 months month hired x 10 12 month b. Transition or Bridge Service Date: Weeks will be in accordance with appropriate eligible vacation allowance. The employee will not be penalized for any time taken above the pro rata amount of time established. • Example: Transition Date or Bridged Service Date 12 - month receiving service x eligible vacation days c. Exceptions to (a) and (b) above will be resolved between the Company and the appropriate bargaining unit. When reasonable, all employees planning to resign from the Company will give the company four (4) weeks prior notice to their departure.

Appears in 2 contracts

Sources: Collective Bargaining Agreement, Collective Bargaining Agreement