Settlement Agreements. Settlement agreements that require payment or other compensation shall be initiated for payment within two (2) payroll periods following the date the settlement agreement is fully executed. If payment is not received within three (3) pay periods, interest at the rate of one percent (1%) shall accrue commencing the first day after the payment was due and on the same date of subsequent months.
Appears in 6 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
Settlement Agreements. Settlement agreements that require payment or other compensation shall be initiated for payment within two (2) payroll periods following the date the settlement agreement is fully executed. If payment is not received within three (3) pay periods, interest at the rate of one percent (1%) shall accrue commencing the first day after the payment was due and on the same date of subsequent months.
Appears in 4 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
