Common use of Calculation of Pay Clause in Contracts

Calculation of Pay. For the period of time that such employee is on such vacation his pay shall be calculated as follows: (a) Two weeks entitlement - Eighty (80) hours’ pay at the straight time hourly rate applicable to the job classification held by the employee immediately prior to his going on vacation, or 4% of such employee’s earnings as an employee of the Company for the calendar year immediately preceding the year in which the vacation is taken, as indicated on the applicable income tax T4 slip; whichever is the greater. (b) Three weeks entitlement - One hundred and twenty (120) hours’ pay at the straight time hourly rate applicable to the job classification held by the employee immediately prior to his going on vacation, or 6% of such employee’s earnings as an employee of the Company for the calendar year immediately preceding the year in which the vacation is taken, as indicated on the applicable income tax T4 slip; whichever is the greater. (c) Four weeks entitlement - One hundred and sixty (160) hours’ pay at the straight time hourly rate applicable to the job clas- sification held by the employee immediately prior to his going on vacation, or 8% of such employee’s earnings as an employee of the Company for the calendar year immediately preceding the year in which the vacation is taken, as indicated on the ap- plicable income tax T4 slip; whichever is the greater. (d) Five weeks entitlement - Two hundred (200) hours’ pay at the straight time hourly rate applicable to the job classification held by the employee immediately prior to his going on vacation, or 10% of such employee’s earnings as an employee of the Company for the calendar year immediately preceding the year in which the vacation is taken, as indicated on the applicable income tax T4 slip; whichever is the greater. (e) Six weeks entitlement - Two hundred and forty (240) hours’ pay at the straight time hourly rate applicable to the job classifica- tion held by the employee immediately prior to his going on vacation, or 12% of such employee’s earnings as an employee of the Company for the calendar year immediately preceding the year in which the vacation is taken, as indicated on the ap- plicable income tax T4 slip; whichever is the greater. (f) Vacation payment per T4 slip. Vacation payment will be on Gross Earnings minus taxable benefits and minus bonus.