Retention Premium Clause Samples
Retention Premium. 12.01 A retention premium is paid to all employees for each hour worked. This premium is: Seventy-five cents ($0.75) for the first two (2) steps of each salary scale; One dollar and twenty-five cents ($1.25) for the next two (2) steps of each salary scale; One dollar and seventy-five cents ($1.75) for the three (3) or four (4) higher steps of each salary scale, as the case may be.
12.02 This premium is payable three (3) times per year to the employees still working for the Employer at the time of the payment, according to the following schedule: Payment in February for the October to January period; Payment in June for the February to May period; Payment in October for the June to September period. If the employee is laid off or retired, the amount of his retention premium will be calculated as a pro rata of the time worked during the period and payable upon his departure.
12.03 This premium is not increased in case of overtime.
12.04 In case of occupational injury with time loss, the Employer includes the retention premium in the calculation of the employee’s gross revenue on the CNESST's Avis de l’employeur et demande de remboursement (ADR) (Employer’s notification and reimbursement request) form.
Retention Premium. Retention Premium shall be paid to all teaching employees of the Ghana Education Service as exists.
Retention Premium. The parties recognize the mutual benefit in retaining employees with skills deemed critical to maintaining the safe operation, license requirements, and capability to meet business commitments and/or professional reputation of the Company. If difficulties arise with retaining such employees, the Employer will put in place a retention bonus for the purposes of retaining any such employee(s). Prior to doing so, the Employer will explain to the Union the need for the retention bonus and engage in meaningful consultation with the Union regarding the amount of such bonus. Any such bonus will be awarded as a non- pensionable lump sum payment and will have a pre-defined duration.
Retention Premium. Professionals who work in the municipalities of Sept-Îles (including Clarke City), Port-Cartier, Gallix and Rivière Pentecôte shall receive an annual retention premium equivalent to eight per cent (8%) of their salary. This premium shall be paid either as a lump sum or spread out over each pay period, upon agreement between the College and the Union within the procedures set out by the labour relations committee.
Retention Premium. This will confirm our understanding of the above subject as agreed during negotiations between IBEW Local 435 and the Company. 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