Common use of Bonus for employees above 60 years of age Clause in Contracts

Bonus for employees above 60 years of age. Employee above 60 years of age is given overtime pay for 33.6 hours of extra work per year, according to the rates or the individual wage in July of the earning year. The bonus is to be paid together with the remaining vacation allowance and is also added to the formula for calculation of the vacation allowance basis. Employee above 60 years of age is also given an additional vacation allowance of 2.3% of the basis for calculation, however in such a way that the basis in connection with calculation of this bonus shall only be 6 times the basic amount pursuant to the National Insurance.

Bonus for employees above 60 years of age. Employee above 60 years of age is given overtime pay for 33.6 hours of extra work per year, according to the rates or the individual wage in July of the earning year. The bonus is to be paid together with the remaining vacation allowance allowance, and is also added to the formula for calculation of the vacation allowance basis. Employee above 60 years of age is also given an additional vacation allowance of 2.3% of the basis for calculation, however in such a way that the basis in connection with calculation of this bonus shall only be 6 times the basic amount pursuant to the National Insurance.