Common use of Retention Pay Clause in Contracts

Retention Pay. Section 1. When an employee has completed five (5) years of continuous service in the County as of December 1 of the current year, they shall be eligible to receive two and one-half (2 1/2) percent of their annual salary for the current calendar year based on their current base rate of pay. For each additional year of continuous service after five, the employee shall qualify for an additional one-half (1/2) of one (1) percent up to and including their tenth year. For all continuous service after ten (10) years, the stability payment shall continue at the rate established for the tenth year of five (5) percent. At the discretion of the EMPLOYER, time on authorized leave of absence for education may be included in computing stability compensation.

Retention Pay. Section 1. When an employee has completed five (5) years of continuous service in the County as of December 1 of the current year, they he/she shall be eligible to receive two and one-half (2 1/2) percent of their his/her annual salary for the current calendar year based on their his/her current base rate of pay. For each additional year of continuous service after five, the employee shall qualify for an additional one-half (1/2) of one (1) percent up to and including their his/her tenth year. For all continuous service after ten (10) years, the stability payment shall continue at the rate established for the tenth year of five (5) percent. At the discretion of the EMPLOYER, time on authorized leave of absence for education may be included in computing stability compensation.

Retention Pay. ‌ Section 1. When an employee has completed five (5) years of continuous service in the County as of December 1 of the current year, they he/she shall be eligible to receive two and one-half (2 1/2) percent of their his/her annual salary for the current calendar year based on their his/her current base rate of pay. For each additional year of continuous service after five, the employee shall qualify for an additional one-half (1/2) of one (1) percent up to and including their his/her tenth year. For all continuous service after ten (10) years, the stability payment shall continue at the rate established for the tenth year of five (5) percent. At the discretion of the EMPLOYER, time on authorized leave of absence for education may be included in computing stability compensation.