Pro-rated Provisions Clause Samples
A pro-rated provisions clause establishes that certain payments, benefits, or obligations will be calculated in proportion to the actual period of service or usage, rather than applying a full amount regardless of timing. For example, if an employee leaves partway through a year, their annual bonus or benefits may be adjusted to reflect only the months worked, or if a service is terminated mid-term, fees may be charged only for the portion used. This clause ensures fairness by aligning financial or contractual responsibilities with the actual duration of participation, preventing overpayment or underpayment when agreements do not run for their full term.
Pro-rated Provisions. The following benefits will be pro-rated during a job sharing arrangement:
Pro-rated Provisions. (i) Salary and benefits for the Employee whose position is reduced shall be in accordance with clause 20.5 during the period of the reduced assignment.
(ii) Notwithstanding 19.1 (d) (i), College and Employee contributions to the Long-Term Disability (LTD) Plan and any benefit for which an Employee may be eligible under the LTD Plan during or after the approved period of the reduced assignment shall be determined in accordance with the provisions of the LTD Plan.