Bonus/Stipend Programs Effective Sample Clauses

Bonus/Stipend Programs Effective. 7/1/02 a) The Long-Term Satisfactory Service Bonus Program in 23.7b. above shall be continued, utilizing available Bonus/Stipend funds accumulated per provision 23.7a. and the formula in 23.9a. above. b) The Educational Achievement Stipend Program shall be continued for employees who receive a masters or doctoral degree during Fiscal Year 2002/03. The amount of the stipend shall be the same as paid to eligible employees in Fiscal Year 2001/02 per 23.9b.2.b) above, and shall be paid out of available Bonus/Stipend funds accumulated per provision 23.7a. and the formula in 23.9a. above. c) Funds remaining in the Fiscal Year 2002/03 Bonus/Stipend pool accumulated per provision 23.7a. and the formula in 23.9a. above, after payment of the 2002/03 Long-Term Satisfactory Service Bonuses and Educational Achievement Stipends, shall be expended on professional development activities in accordance with Article 16.