ARTICLE X. VACATION Section 10.1 Each employee who has been with the Company for a full year will receive paid vacation as follows: Years of Service Weeks of Vacation More than 1 but less than 5 2 weeks More than 5 but less than 10 3 weeks More than 10 but less than 20 4 weeks Greater than 20 5 weeks Section 10.2 Employees with less than one (1) year of service will receive one (1) day of vacation per month of service, to a maximum of ten (10) days.TABLE 1 COMPARISON OF WORKING TERMS AND CONDITIONS OF SIMILAR FIRMS FIRM 1 (CCL) FIRM 2 FIRM 3 FIRM 4 FIRM 5 FIRM 6 AVERAGE No. of employees 550 650 625 475 500 400 533 Unionized? Yes No Yes No Yes Yes Contract duration 3 years N/A 4 years N/A years 3 years 3.5 years Average wage $20.25 $19.50 $21.75 $18.00 $19.75 $19.00 $19.71 Year 1 wage increase Signing bonus 1.00% Signing bonus 1.00% 0% Signing bonus 67% or $750 $500 $1000 $750 signing bonus Year 2 wage increase 1.00% 1.00% 2.00% 1.00% 1.00% 1.00% 1.17% Year 3 wage increase 1.00% 1.00% 2.00% 1.00% 2.00% 1.50% 1.42% OVERTIME Overtime voluntary? Yes Yes. But will No. Management Yes Yes. But will No. Management assign in can assign assign in can assign reverse order reverse order of seniority of seniority if insufficient if insufficient volunteers volunteers Overtime rate 1.5 1.5 2 1.5 1.5 1.75 1.63 VACATION 2 weeks at years 1 1 1 1 1 1 3 weeks at _ years 5 3 3 5 3 4 3.83 4 weeks at years 10 10 10 15 10 10 10.83 5 weeks at years 20 15 15 20 15 15 16.67 6 weeks at years 25 20 20 21.67 (continued). Vacation. The current entitlement to vacation is as set out below. Any changes to the vacation plan would be costed using the following formula: Average hourly wage X 40 hours a week X Number of employees impacted. Years of Service Weeks No. of Employees Less than 1 1 day/month of service to a 90 maximum of 2 weeks More than 1 but less than 3 2 60 More than 3 but less than 5 N 50 More than 5 but less than 10 Co 30 More than 10 but less than 15 30 More than 15 but less than 20 95 More than 20 but less than 25 5 85 More than 25 but less than 30 5 70 More than 30 5 40 Total 550 . Shift premiums. Most employees (i.e., 60%) workday shift (8 a.m. to 4 p.m.). Forty percent of employees are permanently assigned to evening (i.e., second) shift (4 p.m. to midnight). The shift premium is currently $1.50 per hour. There is no night (i.e., third) shift (midnight to 8 a.m.). If production is needed after midnight, it is voluntary, paid at overtime rates, and no shift premium is paid. If the company implements a three, 8-hour-shift (i.e., 24 hours per day, 7 days per week) operation, they anticipate that 50 percent of workers will permanently work first shift, 30 percent will permanently work second shift, and 20 percent will permanently work third shift. . Retirement fund. Currently an amount equivalent to 4 percent of regular wages is placed by CCL into a retirement fund for the employee. Any changes should be calculated as follows: Average hourly wage X 40 hours per week X 52 weeks X % invested by the company