Northern Retention Premium Sample Clauses

Northern Retention Premium. 31 Variable Performance Pay-Salary Groups 306, 307 & 308......................................... 32 Variable Performance Pay-Salary Groups 301, 302, 303, 304 & 305 ......................... 33
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Northern Retention Premium. All Regular employees, regularly employed and who permanently reside north of the 53rd parallel shall be entitled to receive an annual Northern Retention Premium of 5% of regular wages (excluding overtime, differentials, etc.), subject to the following terms and conditions: An employee must complete twelve (12) consecutive months of employment north of the 53rd parallel to be entitled to the premium. Upon completion of each twelve (12) month period, the employee shall be paid the Northern Retention Premium. Twelve (12) month periods shall run from September 11th of the previous year to September 10th of the following year. Employees hired into the North shall be eligible to receive a prorated premium for time worked between September 11th of the previous year to September 10th of the following year. Where an employee is temporarily assigned by the Company to work south of the 53rd parallel, the Northern Retention Premium shall continue as if said employee did not leave the North. It is understood by the parties that the Northern Retention Premium shall take the form of a lump sum payment, not to be folded into the regular base rate of pay, and shall not be considered pensionable earnings.
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Northern Retention Premium. All regular employees, regularly employed and who permanently reside north of the 53rd parallel shall be entitled to receive an annual Northern Retention Premium of 5% of regular wages (excluding overtime, differentials, etc.), subject to the following terms and conditions: An employee must complete twelve (12) consecutive months of employment north of the 53rd parallel to be entitled to the premium. Upon completion of each twelve (12) month period, the employee shall be paid the Northern Retention Premium. The twelve (12) month periods shall run from April 20th of the previous year to April 20th of the following year. Employees hired into the North shall be eligible to receive a prorated premium for time worked between April 20th of one year to April 20th of the following year. Where an employee is temporarily assigned by the Company to work south of the 53rd parallel or is engaged in an out of province assignment, the Northern Retention Premium shall continue as if said employee did not leave the North. It is understood by the parties that the Northern Retention Premium shall take the form of a lump sum payment, not be folded into the regular base rate of pay, and shall not be considered pensionable earnings.
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Northern Retention Premium. 20 Variable Pay Plan ................................................................................................. 21
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Northern Retention Premium. Note: Effective April 20, 2016, the Northern Region Premium shall increase from 5% to 7% of regular wages.
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Northern Retention Premium. This will confirm our understanding of the above subject as agreed during negotiations between the Union and the Company as follows: All regular employees, regularly employed and who permanently reside north of the 53rd parallel shall be entitled to receive an annual Northern Retention premium of 5% of regular wages (excluding overtime and differentials, etc.), subject to the following terms and conditions: An employee must complete twelve (12) consecutive months of employment north of the 53rd parallel to be entitled to the premium. Upon completion of each twelve (12) month period, the employee shall be paid the Northern Retention premium. The twelve (12) month period shall run from October 20th of the previous year to October 20th of the following year. Employees hired into the North shall be eligible to receive a prorated premium for time worked between October 20th of the previous year to October 20th of the following year. Where an employee is temporarily assigned by the Company to work south of the 53rd parallel, the Northern Retention premium shall continue as if said employee did not leave the north. It is understood by the parties that the Northern Retention Premium shall take the form of a lump sum payment, not to be folded into the regular base rate of pay and shall not be considered pensionable earnings. This Letter of Understanding shall terminate upon the expiry of the Collective Agreement on February 19, 2013. The following will confirm the understanding and agreement between the parties during negotiations regarding a Variable Pay Plan for salary groups 306, 307 and 308 as follows:
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Northern Retention Premium. All Regular employees, regularly employed and who permanently reside north of the 53rd parallel shall be entitled to receive an annual Northern Retention Premium of 5% of regular wages (excluding overtime, differentials, etc.), subject to the following terms and conditions: An employee must complete twelve (12) consecutive months of employment north of the Where an employee is temporarily assigned by the Company to work south of the 53rd parallel, the Northern Retention Premium shall continue as if said employee did not leave the North. It is understood by the parties that the Northern Retention Premium shall take the form of a lump sum payment, not to be folded into the regular base rate of pay, and shall not be considered pensionable earnings.
Sample 1
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Northern Retention Premium. This will confirm our understanding of the above subject as agreed during negotiations between the Association and the Company as follows: All regular employees, regularly employed and who permanently reside north of the 53rd parallel shall be entitled to receive an annual Northern Retention premium of 5% of regular wages (excluding overtime and differentials, etc.), subject to the following terms and conditions:
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Northern Retention Premium. This will confirm our understanding of the above subject as agreed during negotiations between the Association and the Company as follows: All regular employees, regularly employed and who permanently reside north of the parallel shall be entitled to receive an annual Northern Retention premium of of regular wages {excluding overtime and differentials, etc.), subject to the following terms and conditions: An employee must complete twelve (12) consecutive months of employment north of the parallel to be entitled to the premium. Upon of each twelve (12) month period, the employee shall be paid the Northern Retention premium. The twelve (12) month period shall run from October of the previous year to October of the following year. Employees hired into the North shall be eligible to receive a prorated premium for time worked between October of the previous year to October of the following year. Where an employee is temporarily assigned by the Company to work south of the parallel, the Northern Retention premium shall continue as if said employee did not leave the north. It is understood by the parties that the Northern Retention Premium shall take the form of a sum payment, not to be folded into the regular base rate of pay and shall not be considered pensionable earnings. This Letter of Understanding shall terminate upon the expiry of the Collective Agreement on February Xxxx Xxxx The following will confirm the understanding and agreement between the parties during negotiations regarding a Variable Pay Plan for salary groups and as follows. Effective January incumbents of bargaining unit positions in salary groups and will be eligible to participate in a Variable Pay Plan and receive a Target bonus of up to based on regular wages, payable in the following calendar year. Bonus payments are pensionable. It is understood and agreed that it shall be the Company's sole and exclusive right to design the Variable Pay Plan. Further, TEAM agrees that the Company shall have sole and right to redesign the Variable Pay Plan prior to the beginning of a new Plan year. Upon completion, the Company shall provide a copy of the Variable Pay Plan to TEAM for purposes. It is understood and agreed that it be the sole and exclusive function of the Internal Audit Department to determine whether the Financial Targets of the Variable Pay Plan have been Such determination shall normally be by March of the calendar year and shall be final. It is agreed and understood that this of Under...
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Related to Northern Retention Premium

  • Severance Payment If, during the Employment Term at any time during the period of twelve (12) consecutive months following the occurrence of a Change in Corporate Control, the Executive is involuntarily terminated (other than for Cause) or the Executive terminates his employment for Good Reason, then subject to compliance with the restrictive covenants in Section 9 and Section 10 and the execution and timely return by the Executive of the Release, the Executive shall be entitled to receive a lump sum severance payment equal to the present value of a series of monthly payments for twenty-four (24) months, each in an amount equal to one-twelfth (1/12th) of the sum of (i) the Executive’s Base Salary, as in effect at the time of the Change in Corporate Control, and (ii) the average of the annual bonuses paid to the Executive for the prior two fiscal years of the Company ending prior to the Change in Corporate Control, if any. Such present value shall be calculated using a discount rate equal to the interest rate on 90-day Treasury bills, as reported in the Wall Street Journal (or similar publication) on the date of the Change in Corporate Control. Such lump sum payment shall be made to the Executive within sixty (60) days following the date of such involuntary termination. In addition, if during the Employment Term within twelve (12) months after a Change in Corporate Control the Executive is involuntarily terminated (other than for Cause) or the Executive terminates his employment for Good Reason, he shall be entitled to continued coverage at the Company’s expense under any health insurance programs maintained by the Company in which the Executive participated at the time of his termination, which coverage shall be continued for eighteen (18) months or until, if earlier, the date the Executive obtains comparable coverage under a group health plan maintained by a new employer. To the extent the benefits provided under the immediately preceding sentence are otherwise taxable to the Executive, such benefits, for purposes of Section 409A of the Code (and the regulations and other guidance issued thereunder) shall be provided as separate monthly in-kind payments of those benefits, and to the extent those benefits are subject to and not otherwise excepted from Section 409A of the Code, the provision of the in-kind benefits during one calendar year shall not affect the in-kind benefits to be provided in any other calendar year.

  • Retention Bonus You will be eligible for a lump sum cash payment on the first anniversary of the Acquisition Date provided that you are employed by the Company as of such date in an amount equal to the sum of (i) 100% of your annual base salary in effect as of the Acquisition Date, plus (ii) 100% of the annual bonus paid to you for the Company’s fiscal year ending December 31, 2008 (such sum, the “First Year Retention Bonus”). You will be eligible for a lump sum cash payment on the second anniversary of the Acquisition Date provided that you are employed by the Company as of such date in an amount equal to the sum of (i) 100% of your annual base salary in effect as of the Acquisition Date, plus (ii) 100% of the annual bonus paid to you for the Company’s fiscal year ending December 31, 2008 (such sum, the “Second Year Retention Bonus”). Except as set forth below, you will not be eligible for the retention bonuses as set forth above if your employment terminates prior to such applicable anniversary. In the event of your Voluntary Termination for Good Reason (as defined below), the termination of your employment by the Company other than for Justifiable Cause, or in the event of your death or “permanent disability” as defined in the Company’s long-term disability policy (i) during the first twelve month period following the Acquisition Date, you will be eligible for a pro rata portion of the First Year Retention Bonus, counting full months of employment with the Company from the Acquisition Date through such termination, and (ii) during the second twelve month period following the Acquisition Date, you will be eligible for a pro rata portion of the Second Year Retention Bonus, counting full months of employment with the Company from the first anniversary of the Acquisition Date through such termination. Any prorated payment pursuant to the preceding sentence shall be made within 10 business days of such termination. If the annual bonus payment for the Company’s fiscal year ending December 31, 2008 has not been paid to you or otherwise determined by the Company as of the date the prorated payment is due, the prorated payment shall be calculated using your target bonus amount for 2008. Payments under this Section 8 shall be net of any applicable withholding taxes. For purposes of this Section 8, “Voluntary Termination for Good Reason” shall have the same meaning as given to such term under the Key Employee Change in Control Severance Plan as in effect immediately prior to the Acquisition Date, but with respect to the First Year Retention Bonus only, determined without regard to clause (ii) thereof.” b. The Letter Agreement is hereby amended by adding a new Section 9 as follows:

  • Basic Life and Accidental Death and Dismemberment Coverage The Employer agrees to provide and pay for the following term life coverage and accidental death and dismemberment coverage for all employees eligible for an Employer Contribution, as described in Section 3. Any premium paid by the State in excess of fifty thousand dollars ($50,000) coverage is subject to a tax liability in accord with Internal Revenue Service regulations. An employee may decline coverage in excess of fifty thousand dollars ($50,000) by filing a waiver in accord with Minnesota Management & Budget procedures. The basic life insurance policy will include an accelerated benefits agreement providing for payment of benefits prior to death if the insured has a terminal condition. $10,000 - $15,000 $15,000 $15,000 $15,001 - $20,000 $20,000 $20,000 $20,001 - $25,000 $25,000 $25,000 $25,001 - $30,000 $30,000 $30,000 $30,001 - $35,000 $35,000 $35,000 $35,001 - $40,000 $40,000 $40,000 $40,001 - $45,000 $45,000 $45,000 $45,001 - $50,000 $50,000 $50,000 $50,001 - $55,000 $55,000 $55,000 $55,001 - $60,000 $60,000 $60,000 $60,001 - $65,000 $65,000 $65,000 $65,001 - $70,000 $70,000 $70,000 $70,001 - $75,000 $75,000 $75,000 $75,001 - $80,000 $80,000 $80,000 $80,001 - $85,000 $85,000 $85,000 $85,001 - $90,000 $90,000 $90,000 Over $90,000 $95,000 $95,000

  • Parental and Adoption Leave Allowance (a) An Employee entitled to parental or adoption leave under the provisions of this Agreement, who provides the Employer with proof that she/he has applied for and is eligible to receive employment insurance (E. I.) benefits pursuant to the Employment Insurance Act, 1996, shall be paid an allowance in accordance with the Supplementary Employment Benefit (S.E.B.) Plan. (b) In respect to the period of parental or adoption leave, payments made according to the S.E.

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