Payment in Lieu of Holiday Agreement

Payment In Lieu Of Holiday Agreement

N.B - From 1st April 2009 this Agreement no longer applies.

This Payment in Lieu of Holiday Agreement is to be used in light of the new Working Time (Amendment) Regulations 2007, which increases the minimum holiday entitlement.

The Regulations create an exception until 1st April 2009 under which it is possible for an employer and an employee to agree to a payment in lieu of the additional 0.8 weeks (4 days for full time workers) entitlement.

This Agreement for Payment in Lieu will allow for staff to enjoy a monetary benefit in respect of their additional entitlement whilst effectively affording the employer extra time to ensure that they will have adequate staff cover when their employees are able to take more time off of work.

This Payment in Lieu of Holiday Agreement includes the following Clauses:
1. Definitions and Interpretations
2. Employee's Obligations
3. Company's Obligations
4. Payment

This Payment in Lieu of Holiday Agreement is in open format. Either enter the requisite details in the highlighted fields or adjust the wording to suit your purposes.

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