Common use of Leave instead of holiday and December bonuses Clause in Contracts

Leave instead of holiday and December bonuses. The employee and the employer may reach an agreement to waive or reduce holiday and/or December bonuses, with corresponding periods of leave being granted instead, based on the wages of the individual worker. Such leave shall be granted in the form of whole or half working days. Example: An employee has a monthly wage of ISK 350,000 for full-time employment, based on daytime work. His daily wage is therefore ISK 16,151 (350,000/21.67). The holiday bonus is ISK 50,000 (2019). Instead of this ISK 50,000 holiday bonus, the employee and employer may agree that he receive three days of leave on full pay (ISK 16,151 x 3) and payment of ISK 1,547 as the balance of the holiday bonus.

Leave instead of holiday and December bonuses. The employee and the employer may reach an agreement to waive or reduce holiday and/or December bonuses, with corresponding periods of leave being granted instead, based on the wages of the individual worker. Such leave shall be granted in the form of whole or half working days. Example: An employee has a monthly wage of ISK 350,000 255,039 for full-time employment, based on daytime work. His daily wage is therefore ISK 16,151 11,796 (350,000/21.67255,039/21.67). The holiday bonus is ISK 50,000 42,000 (20192015). Instead of this ISK 50,000 42,000 holiday bonus, the employee and employer may agree that he the employee receive three 3.5 days of leave on at full pay (ISK 16,151 x 311,769*3.5) and payment of ISK 1,547 as 809, the balance remainder of the his holiday bonusbonus entitlement.

Leave instead of holiday and December bonuses. The employee and the employer may reach an agreement to waive or reduce holiday and/or December bonuses, with corresponding periods of leave being granted instead, based on the wages of the individual worker. Such leave shall be granted in the form of whole or half working days. Example: An employee has a monthly wage of ISK 350,000 500,000 for full-time employment, based on daytime work. His daily wage is therefore ISK 16,151 23,073 (350,000/21.67500,000/21.67). The holiday December bonus is ISK 50,000 103,000 (20192023). Instead of this ISK 50,000 103,000 holiday bonus, the employee and employer may agree that he they receive three days of leave on at full pay (ISK 16,151 23,073 x 34) and payment of ISK 1,547 10,707 as the balance of the holiday bonus.

Leave instead of holiday and December bonuses. The employee and the employer may reach an agreement to waive or reduce holiday and/or December bonuses, with corresponding periods of leave being granted instead, based on the wages of the individual worker. Such leave shall be granted in the form of whole or half working days. Example: An employee has a monthly wage of ISK 350,000 450,000 for full-time employment, based on daytime work. His daily wage is therefore ISK 16,151 20,766 (350,000/21.67450,000/21.67). The holiday December bonus is ISK 50,000 103,000 (20192023). Instead of this ISK 50,000 103,000 holiday bonus, the employee and employer may agree that he they receive three days of leave on at full pay (ISK 16,151 20,766 x 34) and payment of ISK 1,547 19,936 as the balance of the holiday bonus.