Lump Sum Bonuses Clause Samples
The Lump Sum Bonuses clause establishes the terms under which a fixed, one-time bonus payment is provided to an employee or contractor. Typically, this clause outlines the conditions that must be met to qualify for the bonus, such as achieving specific performance targets, completing a project, or reaching a milestone, and specifies the amount and timing of the payment. By clearly defining eligibility and payment details, the clause ensures both parties understand when and how the bonus will be awarded, thereby preventing disputes and incentivizing desired outcomes.
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Lump Sum Bonuses. A Lump Sum Bonus of $500 shall be payable to each employee actively at work on September 1, 2014. Such Lump Sum Bonus shall be paid by October 15, 2014. A Lump Sum Bonus of $500 shall be payable to each employee actively at work on September 1, 2015. Such Lump Sum Bonus shall be paid by October 15, 2015. A Lump Sum Bonus of $500 shall be payable to each employee actively at work on September 1, 2016. Such Lump Sum Bonus shall be paid by October 15, 2016. A Lump Sum Bonus of $500 shall be payable to each employee actively at work on September 1, 2017. Such Lump Sum Bonus shall be paid by October 15, 2017. An employee who is off work and receiving Weekly Indemnity or WSIB benefits for less than two years as of the eligibility date for the Lump Sum Bonuses as set forth above, and who returns to active work within one year of the eligibility date for such Lump Sum Bonuses, shall be eligible for such Lump Sum Bonus.
Lump Sum Bonuses. 2805 October 1, 2023 2806 All Health Care Professionals employed on October 1, 2023 will receive a two percent (2.0%) lump sum bonus calculated based on the compensated hours they were paid in the twenty-six full pay periods preceding October 1, 2023. 2807 September 29, 2024 2808 All Health Care Professionals employed on September 29, 2024 will receive a two percent (2.0%) lump sum bonus calculated based on the compensated hours they were paid in the twenty-six full pay periods preceding September 29, 2024. 2809 Lump sums pursuant to this Agreement will be paid out in the first pay period following October 1 in each of Years 2023 and 2024. 2810 Earnings to include: Compensated hours includes regular hours worked, overtime, vacation, sick and training time (includes extra shifts and shift premiums). It excludes bonuses and benefits. 2811 Period of Pay: Covers 26 pay periods, or 1 year of earnings. 2812 Payment: Subject to applicable state/federal withholdings. 2813 Section 3: LMP Trust Contribution 2814 Effective September 30, 2024, a nine cent ($0.09) per hour reduction will serve as the employee contribution to the Partnership Trust throughout the term of this agreement, as required by the Alliance National Agreement, Section 1.B.3., Partnership Trust.
Lump Sum Bonuses. Consistent with current practice, during the term of this Agreement, full time and part time employees who have reached the maximum pay rate for their classification shall receive a lump sum bonus instead of an hourly wage rate increase. Such lump sum bonus shall be paid at the same time as wage rate increases are provided to non-maxed out employees, at the same percentages specified in Section 12.1 above. For example, the lump sum bonus paid the first full pay period following July 1, 2019, shall be equal to 2.75% of the maxed-out Employee’s base hourly rate, multiplied by the number of hours worked in the previous twelve (12) months.
Lump Sum Bonuses. A 2.75% one-time, lump sum bonus will be paid to each eligible member of the bargaining unit who is actively employed by the District as of 12/2/2022 including employees on Short-Term Disability and FMLA. This one-time, lump sum bonus will be calculated on wages paid between December 17,2021 and December 2, 2022 (up to 26 paychecks) and will exclude longevity and any other bonus earnings. The bonus shall be paid by 12/16/22. Any employee on LOA for the entire earning period is not eligible for this bonus. A second 2.5% one-time lump sum bonus will be paid to each eligible member of the bargaining unit who is actively employed by the District as of 5/26/2023, including employees on Short-Term Disability and/or FMLA. This one-time, lump sum bonus will be calculated on wages paid between May 20, 2022 and May 5, 2023 (up to 26 paychecks) and will exclude longevity and any other bonus earnings. This bonus shall be paid on 5/26/2023. Any employee on LOA for the entire earning period is not eligible for this bonus.
Lump Sum Bonuses. A Lump Sum Bonus of $4,000 shall be payable within 30 days of ratification of the 2022 Collective Bargaining Agreement to each Employee accruing Pension Service, as defined by the Pension Agreement between the Parties, on December 20, 2022. Probationary Employees hired before December 20, 2022, shall not be eligible for the Lump Sum Bonus until such time as they have successfully completed their probationary period. Lump Sum Bonuses shall not be used in the calculation of any other pay, allowance or benefit and shall be subject to all required withholdings and Union dues.
Lump Sum Bonuses. A $1,500 lump sum bonus would be paid to then-current employees after the date the Base Wage Reduction is implemented.
Lump Sum Bonuses