Common use of COST-OF-LIVING BONUS Clause in Contracts

COST-OF-LIVING BONUS. 31.01 A cost-of-living bonus where applicable shall be payable to the I.A.M. Pension Fund for each hour worked and for each hour which an employee is entitled to holiday pay pursuant to Article 22.00 hereof, but shall not be incorporated into or otherwise affect the hourly wage rates set out in Appendix 2 hereof, nor included for the computation of overtime pay. The said cost-of-living bonus shall be calculated and paid pursuant to Article 32.00 hereof.

COST-OF-LIVING BONUS. 31.01 A cost-of-living bonus where applicable shall be payable to the I.A.M. Pension Fund for each hour worked and for each hour which an employee is entitled to holiday pay pursuant to Article 22.00 hereof, but shall not be incorporated into or otherwise affect the hourly wage rates set out in Appendix 2 hereof, nor included for the computation of overtime pay. The said cost-of-living bonus shall be calculated and paid pursuant to Article 32.00 hereof.