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5.5 Long -Term Disability Insurance. <br /> For management and confidential employees, the city <br /> shall offer long -term disability insurance coverage <br /> under the city's present Canada Life Plan. The total <br /> monthly premium for said coverage under the plan shall <br /> be paid by the city. The maximum monthly benefit under <br /> said plan shall not exceed $1,500 per month. <br /> Section 6. Leaves <br /> 6.1(1) Observed Holidays. <br /> The holidays to be observed by management and confiden- <br /> tial employees, except fire battalion chiefs, are as <br /> follows: <br /> A. January 1st <br /> S. The third Monday in January, known as "Martin= <br /> Luther King Day" <br /> C. The third Monday in February, known as "Washington <br /> Day" <br /> D. The last Monday in May, known as "Memorial Day" <br /> E. July 4th <br /> F. The first Monday in September, known as "Labor <br /> Day" <br /> G. The eleventh day of the eleventh month, known as <br /> "Veteran's Day" <br /> H. Thanksgiving Day <br /> I. The Friday following Thanksgiving Day <br /> J. Christmas Eve day <br /> K. December 25th <br /> 6.1(2) Holidays Falling on Saturday. Sunday or Scheduled <br /> Dav Off <br /> When a holiday falls on a Sunday, the following Monday <br /> shall be observed; when a holiday falls on a Saturday, <br /> the preceding Friday shall be observed; except that if <br /> Christmas Eve day falls on a Saturday or Sunday, the <br /> preceding Friday shall be observed. If a holiday falls <br /> on an employee's scheduled time off, compensatory time <br /> off shall be granted or, at the option of the employee, <br /> compensation at a rate of pay equal to his regular rate <br /> of pay for the holiday period shall be granted. <br /> 6.1(3) Floating Holidays <br /> Each management employee, except fire battalion chiefs, <br /> shall be credited with two (2) floating holidays on <br /> - 7 - <br />