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 thru 9 years service 1.5% of annual salary on anniversary date. After 10 thru 14 years service 2.0% of annual salary on anniversary date. After 15 thru 19 years service 2.5% of annual salary on anniversary date. 20+ years service 3.0% of annual salary on anniversary date. Longevity bonus pay for employees hired after January 1, 1998, shall be earned as follows: After 5 thru 9 years service 1.0% of annual salary on anniversary date After 10 thru 14 years service 1.5% of annual salary on anniversary date After 15 thru 19 years service 2.0% of annual salary on anniversary date After 20+ years service 2.5% of annual salary on anniversary date

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 thru through 9 years service 1.5% of annual salary on anniversary date. date After 10 thru through 14 years service 2.02% of annual salary on anniversary date. date After 15 thru through 19 years service 2.5% of annual salary on anniversary date. date After 20+ years service 3.03% 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 thru through 9 years service 1.0% of annual salary on anniversary date After 10 thru through 14 years service 1.5% of annual salary on anniversary date After 15 thru through 19 years service 2.0% of annual salary on anniversary date After 20+ years service 2.5% of annual salary on anniversary date