Common use of Motion Picture Industry Individual Account Clause in Contracts

Motion Picture Industry Individual Account. Plan (a) The Producer shall contribute to the Individual Account Plan the following amounts on behalf of each employee employed by the Producer hereunder: (1) For all hours worked by or guaranteed such employee during the period July 29, 2018 to and including August 3, 2019, seven percent (7%) of the scale Regular Basic Hourly Rate of pay. (In the case of "on call" employees, such percentage payment shall be based on the scale "on call" rate.) (2) For all hours worked by or guaranteed such employee during the period August 4, 2019 to and including August 1, 2020, seven and one-half percent (7.5%) of the scale Regular Basic Hourly Rate of pay. (In the case of "on call" employees, such percentage payment shall be based on the scale "on call" rate.) (3) For all hours worked by or guaranteed such employee during the period August 2, 2020 to and including July 31, 2021, eight percent (8%) of the scale Regular Basic Hourly Rate of pay. (In the case of "on call" employees, such percentage payment shall be based on the scale "on call" rate.) (b) The parties agree that each employee's Individual Account Plan shall vest after one (1) qualified year.

Motion Picture Industry Individual Account. Plan (a) The Producer shall contribute to the Individual Account Plan the following amounts on behalf of each employee employed by the Producer hereunder: (1) For all hours worked by or guaranteed such employee during the period July 29August 1, 2018 2015 to and including August 3July 30, 20192016, seven six percent (76%) of the scale Regular Basic Hourly Rate of pay. (In the case of "on call" employees, such percentage payment shall be based on the scale "on call" rate.) (2) For all hours worked by or guaranteed such employee during the period August 4July 31, 2019 2016 to and including August 1July 29, 20202017, seven six and one-half percent (7.56.5%) of the scale Regular Basic Hourly Rate of pay. (In the case of "on call" employees, such percentage payment shall be based on the scale "on call" rate.) (3) For all hours worked by or guaranteed such employee during the period August 2July 30, 2020 2017 to and including July 31, 20212018, eight seven percent (87%) of the scale Regular Basic Hourly Rate of pay. (In the case of "on call" employees, such percentage payment shall be based on the scale "on call" rate.) (b) The parties agree that each employee's Individual Account Plan shall vest after one (1) qualified year.