Common use of Second Lump Sum Payment Clause in Contracts

Second Lump Sum Payment. On July 1, 1998, each employee will be paid a lump sum equal to the excess of (i) three- and-one-half (3-1/2) percent of the employee's compensation for 1997, including pay for overmiles but excluding pay elements not subject to general wage increases under Section 8 of this Article and lump sums, over (ii) the lesser of (x) one-half of the amount described in clause (i) above and (y) one-and-one-half times one-quarter of the amount, if any, by which the Carriers' payment rate for 1998 for foreign-to-occupation health benefits under the Plan exceeds such payment rate for 1995.

Second Lump Sum Payment. On July 1I, 1998, each employee will be paid a lump sum equal to the excess of (i) three- three-and-one-half (3-1/2%) percent of the employee's ’s compensation for 1997, including pay for overmiles but excluding pay elements not subject to general wage increases under Section 8 Paragraph B.4. of this Article and lump sums, over (ii) the lesser of (x) one-half of the amount described in clause (i) above and (y) one-and-one-half times one-quarter of the amount, if any, by which the Carriers' ’ payment rate for 1998 for foreign-to-occupation health benefits under the Plan exceeds such payment rate for 1995.