Common use of Retention Payment Clause in Contracts

Retention Payment. (a) A practitioner employed in Levels 1 – 12, at the completion of each 12 months service or the completion of a fixed term contract, whichever is earlier, shall be paid a Retention Payment equal to 2% of their base salary at the time of payment for the relevant period. (b) The entitlement to a retention payment is extinguished on and from 1 July 2006 provided that a practitioner who would otherwise have been entitled to payment after 1 July 2006 will be paid on a pro rata basis for the applicable service up to and including 30 June 2006.

Appears in 7 contracts

Samples: Industrial Agreement, Department of Health Medical Practitioners (Pathcentre) Ama Industrial Agreement 2004, Department of Health Medical Practitioners (Drug and Alcohol Office) Ama Industrial Agreement 2004

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