Guidelines for Time Off & Leaves

(Salaried Staff, Non-Union)

Purpose

Time away from work is important — for rest, personal responsibilities, and giving back. Whenever applicable, please submit requests in advance. This allows us to plan appropriately and support each other across the team. Of course, we understand that urgent situations do arise. When they do, let your manager or HR know as soon as possible.

Vacation Allowance

• FOSTER strongly encourages employees to take all their vacation time in the year in which it is earned. 
• Carryovers above the ESA entitlements are permitted under limited circumstances with prior management approval only.
• Please note that employees are not entitled to any vacation time until completion of the probationary period as stipulated in their employment contract.
• Additional unpaid days off beyond an employee’s vacation allowance will be reviewed on a case-by-case basis by management. Approval is at the discretion of management and is not guaranteed.

Charity/Volunteer Day

• One paid day per year is available for salaried employees who wish to volunteer with a registered charity.
• Prior management approval and proof of participation required.

Vacation Requests

Please confirm approval before making personal commitments, such as booking your travel. We aim to be flexible, but approval is not guaranteed and depends on business needs. Planning helps avoid unnecessary stress and ensures coverage.

• If possible, employees requesting vacation time of more than five consecutive business days (one full week) should make the request at least one month in advance of the requested vacation period. 
• Before leaving for vacation, notify your team members of the days they will be out of the office and activate their Out of Office notification in email and voicemail.

Sick Days

FOSTER offers up to five (5) paid sick days per calendar year to support full-time salaried employees in cases of genuine health-related absences due to illness, injury, or medical emergency.

• Sick days do not carry over to the next calendar year and cannot be banked.
• They are not intended to substitute as additional vacation time.
• If you know in advance that you will require time off related to scheduled medical procedures, it may be applied in those cases.
• Sick days may be taken in half-day increments (e.g. medical appointments, treatment etc.).
• Any further absences (i.e. beyond the 5 days) will be treated as unpaid leave.
• For absences longer than three consecutive days, management may request reasonable confirmation by a medical professional. The medical note may include:
  • The date the employee was seen by the medical professional;
  • The anticipated duration of the illness or injury (prognosis not diagnosis);
  • Confirmation that the doctor provided the note (e.g., in person, telehealth, virtual consultation).

Bereavement Leave

Bereavement loss is deeply personal and affects individuals in different ways. Our Bereavement Leave policy is designed to provide meaningful support and flexibility during these difficult occasions.

• Full-time employees are eligible for three paid days of bereavement leave per occurrence.
• Other considerations can be discussed on a case-by-case basis with management.

We encourage you to communicate directly with your manager or HR to ensure you receive the support you need.

Emergency Personal Leave

• Emergency personal leave is available on a case-by-case basis and is intended for unforeseen circumstances such as family emergencies or unexpected, urgent personal matters. 
• May be taken in half-day increments.
• Employees should communicate with their manager or HR as soon as possible to discuss the situation, and the appropriate time required.

Extended Personal Leave

Note: This section does not apply to job-protected leaves under the Employment Standards Act or the Ontario Human Rights Code (e.g., parental leave, disability leave).

Key Details:

• Definition and Eligibility:
  • Extended personal leave is an unpaid leave of two weeks or more, granted under exceptional circumstances.
  • Extended personal leave is not a substitute for medical or disability leave.
  • Employees must have one year of continuous service to be eligible. Probationary employees are not eligible.
• Approval Process:
  • Requests are reviewed on a case-by-case basis by management considering the reason for the leave and team workload.
  • Approval is at the discretion of management and is not guaranteed.
• Pay and Benefits During Leave:
  • Salary is not provided during extended personal leave.
  • We will assess the impact on benefits based on the policy in effect at the time of leave and communicate the details to you at that time.
  • Please note that the underwriter of the benefits policy reserves the right to allow or disallow coverage as per the policy in effect.
• Returning to Work:
  • We will make every effort to place employees in a similar role upon their return but cannot guarantee the exact same position.
  • Employment start dates will be adjusted to account for time spent on leave.
• Responsibilities:
  • Employees must return to work on the agreed-upon date.
  • Extensions require a written request at least five business days before the leave ends.
  • Failure to return or request an extension will be considered a resignation.

Professional Development

We are committed to supporting employees’ professional development. Employees are encouraged to pursue continuing education through courses and programs relevant to their role, the industry, and their professional growth.

• Investment industry exams (e.g., Canadian Securities Course) are eligible for requesting “Professional Development” time off on the scheduled exam day to write it.
• May be taken in half-day increments.

Acknowledgement

I confirm that I have received and read the Foster Vacation & Leaves Guidelines 2025. I understand it is my responsibility to follow the policies and to speak with HR or my manager if I have any questions.

I understand that these guidelines may be updated, and that I will be notified in writing of any significant changes before they take effect.

Please download and sign using the button below. 

Last updated August 18, 2025