Calculation of Work Premiums. Work premiums designated as bonus rates and which are stated as a percentage, shall be added to the employee's basic hourly rate of compensation. When more than one premium is applicable, each premium shall separately be added to the employee's basic hourly rate. Premiums shall not be pyramided or compounded. Work premiums designated as biweekly dollar amounts shall be added in a lump sum to the employee's biweekly compensation without regard for the employee's basic hourly rate. Premiums so designated shall be paid for time worked only and shall not be applied toward paid time off or to terminal payoff.
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Samples: Memorandum of Agreement, Memorandum of Agreement, Memorandum of Agreement
Calculation of Work Premiums. Work premiums designated as bonus rates and which are stated as a percentage, shall be added to the employee's basic hourly rate of compensation. When more than one premium is applicable, each premium shall separately be added to the employee's basic hourly rate. Premiums shall not be pyramided or compounded. Work premiums designated as biweekly dollar amounts shall be added in a lump sum to the employee's biweekly compensation without regard for the employee's basic hourly rate. Premiums so designated shall be paid for time worked only and shall not be applied toward towards paid time off or to terminal payoff.
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