Common use of Long Service Bonus Clause in Contracts

Long Service Bonus. 31.01 The Employer agrees to pay a Long Service Bonus of five hundred and seventy-five dollars ($575) (prorated for part-time employees) as a salary bonus for employees who have attained ten (10) years or more of service prior to year-end December 31st. Effective April 1, 2009, the Employer agrees to pay a Long Service Bonus of six hundred dollars ($600) (prorated for permanent part-time employees) as a salary bonus for workers who have attained ten (10) years or more of service prior to year- end December 31st. Such bonus shall be payable in the last pay period prior to Christmas in any year by separate direct deposit. It is understood that all permanent full-time and permanent part-time employees who attained the required amount of years of service prior to year end December 31st who retire or voluntarily terminate their employment with the Employer during the year will receive on a one time basis only, the Long Service Bonus in the amount as outlined above, on a prorated basis, minus statutory deductions. For permanent full-time employees, the bonus will be prorated by the number of completed months of service during the calendar year; for permanent part-time employees, the bonus will be prorated by the number of completed months of service during the calendar year as well as the proration of hours worked during the week.

Long Service Bonus. 31.01 The Employer Society agrees to pay a Long Service Bonus of five hundred and seventytwenty-five dollars ($575525) (prorated for part-time employees) as a salary bonus for employees who have attained ten (10) years or more of service prior to year-end December 31st. Effective April 1, 20092006, the Employer Society agrees to pay a Long Service Bonus of six five hundred and fifty dollars ($600550) (prorated for permanent part-time employees) as a salary bonus for workers who have attained ten (10) years or more of service prior to year- year-end December 31st. Such Suc h bonus shall be payable in the last pay period prior to Christmas in any year by separate direct deposit. Employees who retire at age 65 shall receive a full Long Service Bonus in their final pay. It is understood that all permanent full-time and permanent part-time employees who attained the required amount of years of service prior to year end December 31st who retire or voluntarily terminate their employment with the Employer Society during the year will receive on a one time basis only, the Long Service Bonus in the amount as outlined above, on a prorated basis, minus statutory deductions. For permanent full-time employees, the bonus will be prorated by the number of completed months of service during the calendar year; for permanent part-time employees, the bonus will be prorated by the number of completed months of service during the calendar year as well as the proration of hours worked during the week.

Long Service Bonus. 31.01 The Employer Society agrees to pay a Long Service Bonus of five hundred and seventytwenty-five dollars ($575525) (prorated for part-time employees) as a salary bonus for employees who have attained ten (10) years or more of service prior to year-end December 31st. Effective April 1, 20092006, the Employer Society agrees to pay a Long Service Bonus of six five hundred and fifty dollars ($600550) (prorated for permanent part-time employees) as a salary bonus for workers who have attained ten (10) years or more of service prior to year- year-end December 31st. Such bonus shall be payable in the last pay period prior to Christmas in any year by separate direct deposit. Employees who retire at age 65 shall receive a full Long Service Bonus in their final pay. It is understood that all permanent full-time and permanent part-time employees who attained the required amount of years of service prior to year end December 31st who retire or voluntarily terminate their employment with the Employer Society during the year will receive on a one time basis only, the Long Service Bonus in the amount as outlined above, on a prorated basis, minus statutory deductions. For permanent full-time employees, the bonus will be prorated by the number of completed months of service during the calendar year; for permanent part-time employees, the bonus will be prorated by the number of completed months of service during the calendar year as well as the proration of hours worked during the week.