Hiring Conditions. The parties agree to modify existing collective agreement commencing date of ratification to endorse a five (5) year “Progressive Wage Scale” in order to stimulate employment and injection of capital funds required to sustain growth and product diversity. All new hires will be subject to the provision of the “Progressive Wage Scale.” The employee remuneration will be 70% of the existing job rate. Upon completion of the second anniversary of employment, the employee rate of pay will increase to 75%: on the third anniversary of employment, the employee rate of pay will increase to 80%; on the fourth anniversary of employment, the employee rate of pay will increase to 90%; and on the fifth anniversary of employment, the employee rate of pay will be at 100%. Effective Date of Ratification the Company shall enforce a pension plan on the following basis:
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Sources: Collective Labour Agreement, Collective Labour Agreement