New Year's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, and Christmas Day, or any other paid holiday adopted by the University during the course of this agreement. In addition, four (4) paid declared holidays will be granted: the day after Thanksgiving Day, the day preceding Christmas Day, the day preceding New Year's Day, four (4) hours of Good Friday, and four (4) hours of K-day. If the tradition of K-day is dropped during the time this Agreement is in effect, employees will be paid for a four (4) hour declared holiday on a different date, which will assure employees of receiving eighty (80) hours of paid holidays during the fiscal year.
When a holiday falls on a Sunday, it may, at the discretion of the University, be observed on the following Monday, and when a holiday falls on a Saturday, it may, at the discretion of the University, be observed on the preceding Friday.