Common use of Longevity Bonus Clause in Contracts

Longevity Bonus. 1. Upon completion of the following years of employment, Employer shall pay eligible employees hired on or before January 1, 1998, an annual longevity bonus, the amounts which follow, at the pay period which follows the anniversary date of employment: After 5 through 9 years service 1.5% of annual salary on anniversary date After 10 through 14 years service 2% of annual salary on anniversary date After 15 through 19 years service 2.5% of annual salary on anniversary date After 20+ years service 3% of annual salary on anniversary date Longevity bonus pay for employees hired after January 1, 1998, and prior to January 1, 2014, shall be as follows: After 5 through 9 years service 1.0% of annual salary on anniversary date After 10 through 14 years service 1.5% of annual salary on anniversary date After 15 through 19 years service 2.0% of annual salary on anniversary date After 20+ years service 2.5% of annual salary on anniversary date 2. In the event that an eligible employee terminates employment for any reason, the employee shall receive a longevity bonus in a pro-rated amount, which is computed as follows: The number of months between the employee's anniversary date and termination date shall be divided by twelve, and the result multiplied with the appropriate annual longevity bonus. 3. The longevity bonus shall be based upon continuous employment, exclusive of those periods wherein an employee is placed upon a leave without pay status; provided, when an employee is laid off and rehired, and the separation does not exceed twelve (12) months, the longevity bonus shall be computed from the employee’s most recent continuous service date excluding the lay-off period; provided further, when an employee separates from employment and is subsequently rehired, the longevity bonus shall be computed from the date of re- employment; except the longevity bonus shall be computed from the date of employee’s most recent continuous service date excluding the period of separation, if the period of separation does not exceed thirty (30) days. 4. Regular full-time or part-time employees hired on or after January 1, 2014, shall not be eligible for the longevity bonus. None of the provisions contained in Section C above shall apply to these employees, effective January 1, 2014.

Appears in 2 contracts

Sources: Collective Bargaining Agreement, Collective Bargaining Agreement

Longevity Bonus. 1. A. Upon completion of the following years of employment, Employer shall pay eligible employees hired on or before January 1, 1998, an annual longevity bonus, the amounts which follow, at the pay period which follows the anniversary date of employment: After 5 through 9 years service 1.5% of annual salary on anniversary date After 10 through 14 years service 2% of annual salary on anniversary date After 15 through 19 years service 2.5% of annual salary on anniversary date After 20+ years service 3% of annual salary on anniversary date Longevity bonus pay for employees hired after January 1, 1998, and prior to January 1, 2014, shall be as follows: After 5 through 9 years service 1.0% of annual salary on anniversary date After 10 through 14 years service 1.5% of annual salary on anniversary date After 15 through 19 years service 2.0% of annual salary on anniversary date After 20+ years service 2.5% of annual salary on anniversary date 2B. The above longevity bonus will be considered earned as of the anniversary date of employment. In the event that an eligible employee terminates employment for any reasonreason prior to the date the above longevity bonus is earned, the employee shall receive a longevity bonus in a pro-rated prorated amount, which is computed as follows: The number of months between the employee's anniversary date and termination date shall be divided by twelvetwelve (12), and the result multiplied with the appropriate annual longevity bonus. The longevity bonus may be paid in the month of or the month following the employee’s anniversary date. 3. C. The longevity bonus shall be based upon continuous employment, exclusive of those periods wherein an employee is placed upon a leave without pay status; provided, when an employee is laid off and rehired, and the separation does not exceed twelve (12) months, the longevity bonus shall be computed from the employee’s most recent continuous service date excluding the lay-off period; provided further, when an employee separates from employment and is subsequently rehired, the longevity bonus shall be computed from the date of re- employment; except the longevity bonus shall be computed from the date of employee’s most recent continuous service date excluding the period of separation, if the period of separation does not exceed thirty (30) days. 4. D. Regular full-time or part-time employees hired on or after January 1, 2014, 2014 shall not be eligible for the longevity bonus. None of the provisions contained in Section C above this article shall apply to these employees, effective employees hired on or after January 1, 2014.2014.‌

Appears in 2 contracts

Sources: Collective Bargaining Agreement, Collective Bargaining Agreement

Longevity Bonus. 1. Upon completion A. At the start of the following years of employment, Employer shall pay eligible employees hired on or before January 1, 1998, an annual a longevity bonus, . This longevity bonus shall be paid to each employee in each pay period. The longevity amount is paid based on the amounts which follow, employee’s continuous service date and is paid out based on the base hourly rate at the pay period which follows the anniversary date time of employmentpayment as follows: After 5 5th through 9 years 9th years’ service 1.0% of base hourly rate 10th through 14th years’ service 1.5% of annual salary on anniversary date After 10 base hourly rate 15th through 14 years 19th years’ service 22.0% of annual salary on anniversary date After 15 through 19 years base hourly rate 20th+ year service 2.5% of base hourly rate In order to implement the transition from annual salary longevity to longevity included in the employee’s hourly rate of pay, employees owed longevity from their last longevity date through the date the hourly longevity is effective, will receive a lump sum equivalent payment no later than two (2) payroll cycles after implementation of the hourly longevity. Employees hired on anniversary date After 20+ years service 3% of annual salary on anniversary date Longevity bonus pay for employees hired or after January 1, 1998, and prior 2014 shall not be eligible for the longevity bonus. None of the provisions contained in this article shall apply to employees hired on or after January 1, 2014, shall be as follows: After 5 through 9 years service 1.0% of annual salary on anniversary date After 10 through 14 years service 1.5% of annual salary on anniversary date After 15 through 19 years service 2.0% of annual salary on anniversary date After 20+ years service 2.5% of annual salary on anniversary date 2. In the event that an eligible employee terminates employment for any reason, the employee shall receive a longevity bonus in a pro-rated amount, which is computed as follows: The number of months between the employee's anniversary date and termination date shall be divided by twelve, and the result multiplied with the appropriate annual longevity bonus. 3. B. The longevity bonus shall be based upon continuous employment, exclusive of those periods wherein an employee is placed upon a leave without pay status; provided, when an employee is laid off and rehired, and the separation does not exceed twelve (12) months, the longevity bonus shall be computed from the employee’s most recent continuous service date excluding the lay-off period; provided further, when an employee separates from employment and is subsequently rehired, the longevity bonus shall be computed from the date of re- employment; except the longevity bonus shall be computed from the date of employee’s most recent continuous service date excluding the period of separation, if the period of separation does not exceed thirty (30) days. 4. Regular full-time or part-time employees hired on or after January 1, 2014, shall not be eligible for the longevity bonus. None of the provisions contained in Section C above shall apply to these employees, effective January 1, 2014.

Appears in 2 contracts

Sources: Collective Bargaining Agreement, Collective Bargaining Agreement

Longevity Bonus. 1. Upon completion of the following years of employment, Employer shall pay eligible employees hired on or before January 1, 1998, 1998 an annual longevity bonus, the amounts which follow, at the pay period which follows the anniversary date of employment: After 5 through thru 9 years service 1.5% of annual salary on anniversary date date. After 10 through thru 14 years service 22.0% of annual salary on anniversary date date. After 15 through thru 19 years service 2.5% of annual salary on anniversary date After date. 20+ years service 33.0% of annual salary on anniversary date date. Longevity bonus pay for employees hired after January 1, 1998, and prior to January 1, 2014, shall be earned as follows: After 5 through thru 9 years service 1.0% of annual salary on anniversary date After 10 through thru 14 years service 1.5% of annual salary on anniversary date After 15 through thru 19 years service 2.0% of annual salary on anniversary date After 20+ years service 2.5% of annual salary on anniversary date 2. In the event that an eligible employee terminates employment for any reason, the employee shall receive a longevity bonus in a pro-rated prorated amount, which is computed as follows: The number of months between the employee's anniversary date and termination date shall be divided by twelve, and the result multiplied with the appropriate annual longevity bonus. 3. The longevity bonus shall be based upon continuous employment, exclusive of those periods wherein an employee is placed upon a leave without pay status; provided, when an employee is laid off and rehired, and the separation does not exceed twelve (12) months, the longevity bonus shall be computed from the employee’s most recent continuous service date excluding the lay-off period; provided further, when an employee separates from employment and is subsequently rehired, the longevity bonus shall be computed from the date of re- re-employment; except the longevity bonus shall be computed from the date of employee’s most recent continuous service date excluding the period of separationservice, if the period of separation does not exceed thirty (30) days, excluding the time of separation. 4. Regular full-time or part-time employees hired on or after January 1, 20142013, shall not be eligible for the longevity bonus. None of the provisions contained in Section C above this section shall apply to these employees, effective January 1, 2014.

Appears in 2 contracts

Sources: Collective Bargaining Agreement, Collective Bargaining Agreement

Longevity Bonus. 1. A. Upon completion of the following years of employment, Employer shall pay eligible employees hired on or before January 1, 1998, an annual longevity bonus, the amounts which follow, at the pay period which follows the anniversary date of employment: After 5 through 9 years service 1.5% of annual salary on anniversary date After 10 through 14 years service 2% of annual salary on anniversary date After 15 through 19 years service 2.5% of annual salary on anniversary date After 20+ years service 3% of annual salary on anniversary date Longevity bonus pay for employees hired after January 1, 1998, and prior to January 1, 2014, shall be as follows: After 5 through 9 years service 1.0% of annual salary on anniversary date After 10 through 14 years service 1.5% of annual salary on anniversary date After 15 through 19 years service 2.0% of annual salary on anniversary date After 20+ years service 2.5% of annual salary on anniversary date 2B. The above longevity bonus will be considered earned as of the anniversary date of employment. In the event that an eligible employee terminates employment for any reasonreason prior to the date the above longevity bonus is earned, the employee shall receive a longevity bonus in a pro-rated prorated amount, which is computed as follows: The number of months between the employee's anniversary date and termination date shall be divided by twelvetwelve (12), and the result multiplied with the appropriate annual longevity bonus. The longevity bonus may be paid in the month of or the month following the employee’s anniversary date. 3. C. The longevity bonus shall be based upon continuous employment, exclusive of those periods wherein an employee is placed upon a leave without pay status; provided, when an employee is laid off and rehired, and the separation does not exceed twelve (12) months, the longevity bonus shall be computed from the employee’s most recent continuous service date excluding the lay-off period; provided further, when an employee separates from employment and is subsequently rehired, the longevity bonus shall be computed from the date of re- employment; except the longevity bonus shall be computed from the date of employee’s most recent continuous service date excluding the period of separation, if the period of separation does not exceed thirty (30) days. 4. D. Regular full-time or part-time employees hired on or after January 1, 2014, 2014 shall not be eligible for the longevity bonus. None of the provisions contained in Section C above this article shall apply to these employees, effective employees hired on or after January 1, 2014.

Appears in 2 contracts

Sources: Collective Bargaining Agreement, Collective Bargaining Agreement

Longevity Bonus. A. All employees hired prior to January 1. Upon , 2014, shall, upon completion of the following years of employment, Employer shall pay eligible employees hired on or before January 1, 1998, receive an annual longevity bonus, the amounts which follow, at on the second (2nd) pay period which follows of the employee’s anniversary date month of employment: After 5 through 9 thru 10 years service 1.5% of annual salary on anniversary date After 10 through 14 thru 15 years service 22.0% of annual salary on anniversary date After 15 through 19 thru 20 years service 2.5% of annual salary on anniversary date After 2021+ years service 33.0% of annual salary on anniversary date Longevity bonus pay for employees hired after January 1, 1998, and prior to January 1, 2014, shall be as follows: After 5 through 9 years service 1.0% of annual salary on anniversary date After 10 through 14 years service 1.5% of annual salary on anniversary date After 15 through 19 years service 2.0% of annual salary on anniversary date After 20+ years service 2.5% of annual salary on anniversary datesalary 2. B. In the event that an eligible employee terminates employment for any reason, the employee shall receive a longevity bonus in a pro-rated amount, prorated amount which is computed as follows: The number of months between the employee's anniversary date and termination date shall be divided by twelve, and the result multiplied with the appropriate annual longevity bonus. 3. C. The longevity bonus shall be based upon continuous employment, exclusive of those periods wherein an employee is placed upon a leave without pay status; provided, when an employee is laid off and rehired, and the separation does not exceed twelve (12) months, the longevity bonus shall be computed from the employee’s most recent continuous service date excluding the lay-off period; provided further, when an employee separates from employment and is subsequently rehired, rehired the longevity bonus shall be computed from the date of re- re-employment; except except, the longevity bonus shall be computed from the date of employee’s most recent continuous service date date, excluding the period of separation, if the period of separation does not exceed thirty (30) days. During the employee’s first year of re-hire, she/he shall receive a longevity bonus prorated based upon the service time completed from the date of rehire to their adjusted service date. 4. D. Regular full-time or part-time employees hired on on, or after after, January 1, 2014, 2014 shall not be eligible for the longevity bonusLongevity Bonus. None of the provisions contained in Section C above this Article shall apply to these those employees, effective January 1, 2014.

Appears in 1 contract

Sources: Collective Bargaining Agreement

Longevity Bonus. 1. Upon completion of the following years of employment, Employer shall pay eligible employees hired on or before January 1, 1998, 1998 an annual longevity bonus, the amounts which follow, at the pay period which follows the anniversary date of employment: After 5 through thru 9 years service 1.5% of annual salary on anniversary date date. After 10 through thru 14 years service 22.0% of annual salary on anniversary date date. After 15 through thru 19 years service 2.5% of annual salary on anniversary date After date. 20+ years service 33.0% of annual salary on anniversary date date. Longevity bonus pay for employees hired after January 1, 1998, and prior to January 1, 2014, shall be earned as follows: After 5 through thru 9 years service 1.0% of annual salary on anniversary date After 10 through thru 14 years service 1.5% of annual salary on anniversary date After 15 through thru 19 years service 2.0% of annual salary on anniversary date After 20+ years service 2.5% of annual salary on anniversary date 2. In the event that an eligible employee terminates employment for any reason, the employee shall receive a longevity bonus in a pro-rated prorated amount, which is computed as follows: The number of months between the employee's anniversary date and termination date shall be divided by twelve, and the result multiplied with the appropriate annual longevity bonus. 3. The longevity bonus shall be based upon continuous employment, exclusive of those periods wherein an employee is placed upon a leave without pay status; provided, when an employee is laid off and rehired, and the separation does not exceed twelve (12) months, the longevity bonus shall be computed from the employee’s most recent continuous service date excluding the lay-off period; provided further, when an employee separates from employment and is subsequently rehired, the longevity bonus shall be computed from the date of re- re-employment; except the longevity bonus shall be computed from the date of employee’s most recent continuous service date excluding the period of separationservice, if the period of separation does not exceed thirty (30) days, excluding the time of separation. 4. Regular full-time or part-time employees hired on or after January 1, 20142013, shall not be eligible for the longevity bonus. None of the provisions contained in Section C above shall apply to these employees, effective January 1, 20142013.

Appears in 1 contract

Sources: Collective Bargaining Agreement

Longevity Bonus. 1. Upon completion of the following years of employment, Employer shall pay eligible employees hired on or before January 1, 1998, an annual longevity bonus, the amounts which follow, at the pay period which follows the anniversary date of employment: After 5 through 9 years service 1.5% of annual salary on anniversary date After 10 through 14 years service 2% of annual salary on anniversary date After 15 through 19 years service 2.5% of annual salary on anniversary date After 20+ years service 3% of annual salary on anniversary date Longevity bonus pay for employees hired after January 1, 1998, and prior to January 1, 2014, shall be as follows: After 5 through 9 years service 1.0% of annual salary on anniversary date After 10 through 14 years service 1.5% of annual salary on anniversary date After 15 through 19 years service 2.0% of annual salary on anniversary date After 20+ years service 2.5% of annual salary on anniversary date 2. In the event that an eligible employee terminates employment for any reason, the employee shall receive a longevity bonus in a pro-rated amount, which is computed as follows: The number of months between the employee's anniversary date and termination date shall be divided by twelve, and the result multiplied with the appropriate annual longevity bonus. 3. The longevity bonus shall be based upon continuous employment, exclusive of those periods wherein an employee is placed upon a leave without pay status; provided, when an employee is laid off and rehired, and the separation does not exceed twelve (12) months, the longevity bonus shall be computed from the employee’s most recent continuous service date excluding the lay-off period; provided further, when an employee separates from employment and is subsequently rehired, the longevity bonus shall be computed from the date of re- employment; except the longevity bonus shall be computed from the date of employee’s most recent continuous service date excluding the period of separation, if the period of separation does not exceed thirty (30) days. 4. Regular full-time or part-time employees hired on or after January 1, 2014, shall not be eligible for the longevity bonus. None of the provisions contained in Section C above shall this sectionshall apply to these employees, effective January 1, 2014.

Appears in 1 contract

Sources: Collective Bargaining Agreement

Longevity Bonus. 1. Upon completion of the following years of employment, Employer shall pay eligible employees hired on or before January 1, 1998, an annual longevity bonus, the amounts which follow, at the pay period which follows the anniversary date of employment: After 5 through 9 years service 1.5% of annual salary on anniversary date After 10 through 14 years service 2% of annual salary on anniversary date After 15 through 19 years service 2.5% of annual salary on anniversary date After 20+ years service 3% of annual salary on anniversary date Longevity bonus pay for employees hired after January 1, 1998, and prior to January 1, 2014, shall be as follows: After 5 through 9 years service 1.0% of annual salary on anniversary date After 10 through 14 years service 1.5% of annual salary on anniversary date After 15 through 19 years service 2.0% of annual salary on anniversary date After 20+ years service 2.5% of annual salary on anniversary date 2. In the event that an eligible employee terminates employment for any reason, the employee shall receive a longevity bonus in a pro-rated amount, which is computed as follows: The number of months between the employee's anniversary date and termination date shall be divided by twelve, and the result multiplied with the appropriate annual longevity bonus. 3. The longevity bonus shall be based upon continuous employment, exclusive of those periods wherein an employee is placed upon a leave without pay status; provided, when an employee is laid off and rehired, and the separation does not exceed twelve (12) months, the longevity bonus shall be computed from the employee’s most recent continuous service date excluding the lay-off period; provided further, when an employee separates from employment and is subsequently rehired, the longevity bonus shall be computed from the date of re- employment; except the longevity bonus shall be computed from the date of employee’s most recent continuous service date excluding the period of separation, if the period of separation does not exceed thirty (30) days. 4. Regular full-time or part-time employees hired on or after January 1, 2014, shall not be eligible for the longevity bonus. None of the provisions contained in Section C above shall this sectionshall apply to these employees, effective January 1, 2014.

Appears in 1 contract

Sources: Collective Bargaining Agreement

Longevity Bonus. 21.1. All employees hired prior to January 1. Upon , 2014, shall, upon completion of the following years of employment, Employer shall pay eligible employees hired on or before January 1, 1998, receive an annual longevity bonus, the amounts which follow, at on the second (2nd) pay period which follows of the employee’s anniversary date month of employment: After 5 through 9 thru 10 years service 1.5% of annual salary on anniversary date After 10 through 14 thru 15 years service 22.0% of annual salary on anniversary date After 15 through 19 thru 20 years service 2.5% of annual salary on anniversary date After 2021+ years service 33.0% of annual salary on anniversary date Longevity bonus pay for employees hired after January 1, 1998, and prior to January 1, 2014, shall be as follows: After 5 through 9 years service 1.0% of annual salary on anniversary date After 10 through 14 years service 1.5% of annual salary on anniversary date After 15 through 19 years service 2.0% of annual salary on anniversary date After 20+ years service 2.5% of annual salary on anniversary datesalary 221.2. In the event that an eligible employee terminates employment for any reason, the employee shall receive a longevity bonus in a pro-rated amount, prorated amount which is computed as follows: The number of months between the employee's anniversary date and termination date shall be divided by twelve, and the result multiplied with the appropriate annual longevity bonus. 321.3. The longevity bonus shall be based upon continuous employment, exclusive of those periods wherein an employee is placed upon a leave without pay status; provided, when an employee is laid off and rehired, and the separation does not exceed twelve (12) months, the longevity bonus shall be computed from the employee’s most recent continuous service date excluding the lay-off period; provided further, when an employee separates from employment and is subsequently rehired, rehired the longevity bonus shall be computed from the date of re- re-employment; except except, the longevity bonus shall be computed from the date of employee’s most recent continuous service date date, excluding the period of separation, if the period of separation does not exceed thirty (30) days. During the employee’s first year of re-hire, she/he shall receive a longevity bonus prorated based upon the service time completed from the date of rehire to their adjusted service date. 421.4. Regular full-time or part-time employees hired on on, or after after, January 1, 2014, 2014 shall not be eligible for the longevity bonusLongevity Bonus. None of the provisions contained in Section C above this Article shall apply to these those employees, effective January 1, 2014.

Appears in 1 contract

Sources: Collective Bargaining Agreement

Longevity Bonus. 1All regular full time employees covered hereby shall be entitled to receive a longevity bonus for length of service with the City according to the following rules and schedule of payment: A. Longevity bonus shall be computed as a percentage of employees’ regular annual base salary or wage. Upon Base salary or wage shall be that salary or wage which an employee is being paid on the first regularly scheduled pay period of the fiscal year in which a longevity bonus is due. Base salary or wage shall not include overtime pay, premium pay or uniform allowance. Longevity bonus shall be based on full time, continuous service. B. Following completion of the following five (5) years of employmentcontinuous full time service by October 1 of any year and continuing in subsequent years of such service, Employer each employee shall pay receive annual longevity payments as provided in the schedule. C. To be eligible employees hired on or before January 1, 1998for longevity payment subsequent to the first payment, an annual longevity bonusemployee must have completed continuous full time service equal to the service required for original eligibility plus a minimum of one additional year of such service for each payment, excepting that employees who retire between October 1st dates shall be eligible for a pro-rated payment as outlined under Subsection F below. D. Payments to employees who become eligible by October 1 of any year shall be due the amounts which follow, at the pay period which follows the anniversary date of employmentsubsequent December 1. E. Longevity Bonus Schedule: After Continuous Service Annual Bonus 5 through 9 or more and less than 10 years service 1.5% of annual salary on anniversary date After 10 through 14 years service 2% of annual salary on anniversary date After wage 10 or more and less than 15 through 19 years service 2.54% of annual salary on anniversary date After 20+ wage 15 or more and less than 20 years service 36% of annual salary on anniversary date Longevity bonus pay for employees hired after January 1, 1998, wage 20 or more and prior to January 1, 2014, shall be as follows: After 5 through 9 less than 25 years service 1.08% of annual salary on anniversary date After 10 through 14 wage 25 or more years service 1.510% of annual salary wage F. Employees who are eligible for longevity bonus payments and who retire on anniversary a service or disability retirement basis shall be paid a pro-rated longevity bonus. Such pro-rated payment shall be based on the number of calendar months of full time service credited to an employee from the preceding October to the date After 15 through 19 years of retirement. An employee whose service 2.0% of annual salary on anniversary date After 20+ years service 2.5% of annual salary on anniversary date 2. In with the event that an eligible employee City terminates employment for any reason, the employee including retirement, between October 1 and December 1 of any year, shall receive a be paid longevity bonus in a pro-rated amount, immediately upon termination or retirement. No longevity payment as above scheduled shall be made for that portion of an employee's regular salary or wage which is computed as follows: The number in excess of months between the employee's anniversary date and termination date shall be divided by twelve, and the result multiplied with the appropriate annual longevity bonustwenty five thousand dollars ($25,000). 3. The longevity bonus shall be based upon continuous employment, exclusive of those periods wherein an employee is placed upon a leave without pay status; provided, when an employee is laid off and rehired, and the separation does not exceed twelve (12) months, the longevity bonus shall be computed from the employee’s most recent continuous service date excluding the lay-off period; provided further, when an employee separates from employment and is subsequently rehired, the longevity bonus shall be computed from the date of re- employment; except the longevity bonus shall be computed from the date of employee’s most recent continuous service date excluding the period of separation, if the period of separation does not exceed thirty (30) days. 4. Regular full-time or part-time employees hired on or after January 1, 2014, shall not be eligible for the longevity bonus. None of the provisions contained in Section C above shall apply to these employees, effective January 1, 2014.

Appears in 1 contract

Sources: Collective Bargaining Agreement

Longevity Bonus. 1. A. Upon completion of the following years of employment, Employer shall pay eligible employees hired on or before January 1, 1998, an annual longevity bonus, the amounts which follow, at the pay period which follows the anniversary date of employment: . After 5 through 9 years service 1.5% of annual salary on anniversary date After 10 through 14 years service 22.0% of annual salary on anniversary date After 15 through 19 years service 2.5% of annual salary on anniversary date After 20+ years service 3service… 3.0% of annual salary on anniversary date date B. Longevity bonus pay for employees hired after January 1, 1998, and prior to January 1, 2014, shall be as follows: After 5 through 9 years service 1.0% of annual salary on anniversary date After 10 through 14 years service 1.5% of annual salary on anniversary date After 15 through 19 years service 2.0% of annual salary on anniversary date After 20+ years service 2.5% of annual salary on anniversary date 2. C. In the event that an eligible employee terminates employment for any reason, the employee shall receive a longevity bonus in a pro-rated prorated amount, which is computed as follows: The number of months between the employee's ’s anniversary date and termination date shall be divided by twelve, and the result multiplied with the appropriate annual longevity bonusbonus percentage. 3. D. The longevity bonus shall be based upon continuous employment, exclusive of those periods wherein an employee is placed upon in a leave without pay status; providedProvided, when an employee is laid off and rehired, and the separation does not exceed twelve (12) months, the longevity bonus shall be computed from the employee’s most recent continuous service date excluding the lay-off layoff period; provided Provided further, when an employee separates from employment and is subsequently rehired, the longevity bonus shall be computed from the date of re- employment; except the longevity bonus shall be computed from the date of employee’s most recent continuous service date excluding the period of separation, if the period of separation does not exceed thirty (30) days. 4. Regular full-time E. Employees hired on, or part-time employees hired on or after after, January 1, 2014, 2015 shall not be eligible for the longevity bonus. None Longevity Bonus and none of the provisions contained in this Section C above 22 shall apply to these employees, effective January 1, 2014.

Appears in 1 contract

Sources: Collective Bargaining Agreement