December bonus Sample Clauses

December bonus. The December bonus for each calendar year based on full-time employment is: ISK 92,000 in 2019, ISK 94,000 in 2020, ISK 96,000 in 2021, and ISK 98,000 in 2022. Full annual employment in this case is considered 45 weeks of work or more, not including holidays. The bonus is to be paid no later than 15th December every year according to the employment percentage and period of service to all employees who have been working for the employer for 12 consecutive weeks during the previous 12 months or who are working during the first week of December. Instead of a calendar year, the accounting period may be counted from 1st December to 30th November each year by agreement with the employee. The December bonus includes holiday pay, is a fixed amount and is not subject to changes according to other provisions. Accrued holiday bonus pay is to be settled upon termination of employment/retirement if termination/retirement occurs before the bonus is due for payment. An employee who is in an employment relationship with a company but is not on the payroll due to a shortage of raw materials or due to illness in December does not lose the right to a December bonus, and that time is taken into consideration when calculating the December bonus if the worker comes to work after an absence due to a shortage of raw materials.

December bonus. The December bonus for each calendar year, based on full-time employment, is: For 2024: ISK 106,000 For 2025: ISK 110,000 For 2026: ISK 114,000 For 2027: ISK 118,000 The bonus must be paid no later than December 15 each year, proportionate to the employment rate, to all employees who have had a temporary or permanent contract with the employer for 12 weeks during the last 12 months or are employed in the first week of December. Full-time employment in this context is considered 45 weeks of work, excluding holidays. By agreement with the employee, the settlement period may be from December 1 to November 30 each year instead of the calendar year. The December bonus includes holiday pay, is a fixed amount, and is not subject to changes according to other provisions. Earned December bonuses should be settled upon termination of employment if it occurs before the bonus's due date.

December bonus. The December bonus for each calendar year, based on full-time employment, is to be as follows: In 2019 ISK 92,000 In 2020 ISK 94,000 In 2021 ISK 96,000 In 2022 ISK 98,000 The bonus is to be paid no later than 15 December of each year, based on the employee’s job proportion and length of employment, to all employees who have been employed by an employer for 12 weeks over the past 12 months or who are employed during the first week of December. A full year’s employment, for this purpose, is 45 worked weeks or more, excluding holiday time (annual vacation), or 1,631.25 hours. From 1 January 2020, the above figure will be based on a 45-minute shortening of the working week, or 1,597.5 hours. An agreement may be reached with the employee to the effect that the settlement period runs from 1 December to 30 November of each year instead of the calendar year. The December bonus includes holiday (vacation) pay, and it is a fixed amount that is not subject to changes according to other provisions. Accrued December bonus shall be paid upon termination of employment in the event that such termination occurs prior to the due date for the bonus.

December bonus. The December bonus for each calendar year based on full employment is: In 2019 ISK 92,000 In 2020 ISK 94,000 In 2021 ISK 96,000 In 2022 ISK 98,000 A full year’s work in this case is considered to be 45 worked weeks or more, not including holiday. The bonus is paid no later than 15 December each year, according to percentage of full-time position and length of service, to all workers who have been in continuous employment with the employer for 12 weeks during the last 12 months, or that are in work in the first week of December. With agreement with a worker, it is authorised to have the settlement period from 1 December to 30 November each year instead of the calendar year. The December bonus includes holiday pay, is a fixed amount and does not change according to other provisions. Accrued December bonus shall be settled on termination of employment should this take place prior to the due day for the bonus. A worker with a contractual relationship with the company who is not on the payroll because of a lack of raw material or because of illness in December does not lose his/her right to the December bonus and if he comes to work at the end of an absence due to lack of raw material, then this period of time is included in the calculation of the December bonus.

December bonus. In the year 2019 In the year 2020 In the year 2021 In the year 2022 101,100 ISK 103,100 ISK 106,000 ISK 109,100 ISK • Starting from 1 May 2021, all members will have earned 30 paid vacation days irrespective of age, for full-time work over the holiday year 1 May 2020 – 31 April 2021. • The holiday percentage will therefore be 13.04% for all wage earners from 1 May 2020. • A 25% extension will not be added to vacation that is taken outside the summer holiday period, except in cases where a supervisor has requested so in writing.

December bonus. 1 The employee is entitled to a year-end bonus. Per December 2021 this bonus was 4% of the salary received in that calendar year (see Appendix A). This year-end bonus has been structurally increased by 4.3% for employees employed on and/or after 1 August 2023, so that it has become 8.3%.

December bonus. The December bonus for each calendar year, based on full-time employment, is to be as follows: In 2023 ISK 103,000 A full year’s employment, for this purpose, is 45 worked weeks or more, excluding holiday time (annual vacation) or 1,653.75 hours for office workers and 1,743.75 hours for shop assistants. The bonus is to be paid no later than 15 December of each year, based on the employee’s job proportion and length of employment, to all employees who have been employed by an employer for 12 weeks over the past 12 months or who are employed during the first week of December. An agreement may be reached with the employee to the effect that the settlement period runs from 1 December to 30 November of each year instead of the calendar year. The December bonus includes holiday (vacation) pay, and it is a fixed amount that is not subject to changes according to other provisions. Accrued December bonus shall be paid upon termination of employment in the event that such termination occurs prior to the due date for the bonus. As an agreement has been reached that a December bonus is included in the monthly wages, the parties agree that a special increase in December bonus is not automatically included in the monthly wage. A special payment may therefore be paid separately in December according to the rules that the collective wage agreements contain, or they may be paid as a certain ISK increase of the monthly wage.

December bonus. 1 The employee is entitled to a structural December bonus of 3% of the salary received in that calendar year (see Appendix A).

December bonus. The December bonus for each calendar year based on full employment is: In 2023 ISK 103,000 A full year’s work in this case is considered to be 45 worked weeks or more, not including holiday. The bonus is paid no later than 15 December each year, according to percentage of full-time position and length of service, to all workers who have been in continuous employment with the employer for 12 weeks during the last 12 months, or that are in work in the first week of December. With agreement with a worker, it is authorised to have the settlement period from 1 December to 30 November each year instead of the calendar year. The December bonus includes holiday pay, is a fixed amount and does not change according to other provisions. Accrued December bonus shall be settled on termination of employment should this take place prior to the due day for the bonus. A worker with a contractual relationship with the company who is not on the payroll because of a lack of raw material or because of illness in December does not lose his/her right to the December bonus and if he comes to work at the end of an absence due to lack of raw material, then this period of time is included in the calculation of the December bonus.