HIM lr'uwu'ruw 15.01 A vacation year is equivalent to the calendar year. 15.02 Employees are entitled to vacation leave and pay as follows: la) An employee who has completed less than one year of service at the conclusion of the vacation year is entitied to leave at the rate of 4 percent of regular hours worked in the concluding vacation year. The vacation leave is to be taken in the next vacation year. Employees are entitled to vacation pay when they take their vacation equal to 4 percent of their wages in the vacation year