License Premium Sample Clauses
A License Premium clause establishes an upfront or additional payment required for the granting of a license, typically above and beyond standard royalty or usage fees. This premium may be a one-time fee or structured as an initial payment, and it often applies in situations where the licensed rights are particularly valuable, exclusive, or confer a competitive advantage. By requiring a License Premium, the clause ensures that the licensor is compensated for the unique value or exclusivity of the rights granted, addressing the need to fairly allocate value and incentivize the licensing arrangement.
License Premium. A license premium shall be paid to eligible employees in the Utilities Department. The premiums shall be paid for the highest license held by the employee: S-4 $400 S-3 $700 S-2 & Above $1,100 The License Premium shall be paid annually during the month of December. It will be prorated for the months worked while holding the license in the Utilities Department for the calendar year. If an employee is on layoff or leave of absence for thirty (30) days or more, the license premium will be prorated. Any employee having a license who is no longer in the classification on December 1st of the calendar year, or who is no longer an employee on the date the premium is paid, shall not receive any part of the year. An employee qualifying for and receiving the initial license during the year shall have the license premium prorated from the date of examination based on 1/12th of the premium for each month from the date the employee earned the license. Any employee holding the classification of Field Tech II, or higher, must have a S-4 license within eighteen (18) months from the date of becoming a Field Tech II, or the date of this agreement, whichever is later.
License Premium. Employees assigned to a job classification which requires a license as a condition of employment, shall receive an hourly premium for the required license in accordance with the following: 7/1/2024 Chief's License $1.50 1st Class License $1.35 2nd Class License $1.20 Certified Pool Operators License $0.90 Special License at Liberty Ridge Site 2 $0.50 Employees of record on July 24, 1986, shall not lose license pay as a result of the foregoing unless they voluntarily bid for and are awarded a job requiring a lower license.
License Premium. In addition to the wages provided for in Appendix “A”, employees shall be eligible for additional compensation for possessing and maintaining certain licenses. These licenses are required to perform certain parts of the job and are encouraged by management. For a license to be considered for wage premium, the employee must have the license approved by Facilities management and be one of the licenses listed below. Management will approve licenses based on the needs of the department and county. Once a license is approved, it must be maintained by the employee. Management will also pay the license registration fee. Wage Premium
License Premium. (1) Employees in the Technical Specialist classification will receive the following license premium for holding both FAA Airframe and FAA Power Plant Licenses:
(a) Effective March 01, 2003, the employee will receive $5.00
(2) Effective March 01, 2001 License premium pay will be compounded in the computation of overtime rates and for those employees retiring, license premium pay will be included in the pensionable earnings of those employees.
License Premium. In the event an employee receives a Marriage Family Therapist (MFT) or Licensed Clinical Social Worker (LCSW) license, the employee will receive two (2) dollars an hour more on an hourly basis. This increase will take effect upon ratification of the Agreement, and will be available for all unlicensed staff currently employed or newly hired unlicensed staff.
License Premium. Effective August 1, 1999: $1.00 per license. Effective August 1, 2000: $1.50 per license.
License Premium. License premiums shall be as follows: S-3 / ▇-▇ / ▇ $▇▇▇▇ ▇-▇ / ▇-▇ / ▇ $1250 S-1 / F-1 / A $1500
(a) The license premium shall be paid annually the first pay day in December as a part of their regular payroll check. It is understood that the license premiums for the Water Plant (i.e. F1, 2, 3, or 4) apply to Water Plant employees only, Waste-Water Plant licenses (i.e. A, B, C, or D) apply to Waste-Water employees only, and O & M licenses (i.e. S1, 2, 3, or 4) apply to O & M employees only. License premiums will be paid based upon the license held on the first pay day in December. Employees passing their exam in November will be paid the difference between the previous license held and the new license during the earliest possible payroll period after being notified of passing the exam. All licenses for the above-named departments must be obtained within 3 test cycles after qualifying to take the exam (i.e. Employees will only be afforded 3 opportunities to pass the exam). Failure to obtain such license within 3 test cycles will result in loss of employment.
(b) Any employee having a license(s) who leaves during the year, including leaving the classification, and is not a regular employee as of the first pay period in December shall not receive any part of the premium pay.
(c) A retiring employee shall not be under provisions of Section 3(b) of License Premiums and shall receive any earned License Premium pro-rated to the date of his retirement on a calendar year basis.
(d) It is understood that the license premium only applies while the employee with the license is working in the classification of plant operator, Mechanic relief operator, Plant Mechanic, or O & M Operator III & IV.
License Premium. It is the understanding by both Parties that a Provincial Class 3Q Driver’s License (which includes an airbrake endorsement) is no longer a requirement by the Company, however any employee that was receiving the twenty- five cents ($0.25) per hour 3Q license premium prior to May 3rd, 2022 will continue to receive said premium, which will be added to the base rate throughout the life of this Agreement. SIGNED THIS DAY OF 2022