Holiday Premium Pay definition

Holiday Premium Pay is defined as one and one half (1½) times the employee’s regular hourly rate of pay.
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Holiday Premium Pay means the hourly wage paid to Employees for performing work during a holiday or holiday season.
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Holiday Premium Pay means compensation paid to an Officer for work performed on a holiday, as set out in Article 19.
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Examples of Holiday Premium Pay in a sentence

  • Employees shall not receive both overtime and Holiday Premium Pay (as defined herein) for the same hours.

  • Night Pay, Night Shift Differential, Sunday Premium Pay, Holiday Premium Pay, and all other special and/or irregular compensation categories will be computed and paid IAW applicable laws and regulations.

  • Election of Holiday Premium Pay or Holiday Compensatory Time shall be at the employee’s discretion.

  • If such work is necessary, the employee shall receive, in addition to Holiday Pay, Holiday Premium Pay which shall be calculated as one and one-half times (1½x) the employee’s regular hourly rate for all time worked.

  • If an employee is scheduled to work one of the six Company Holidays (New Year's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day or Christmas Day), the employee will receive Holiday Premium Pay.

  • For premium pay purposes, the Holiday Premium Pay period will be a twenty-four hour pay period beginning with the night shift preceding the holiday and ending with the evening shift on the holiday, with the exception of Christmas and New Years Day, which shall be a thirty-two hour period beginning at three (3:00) p.m. of the evening shift preceding the holiday and ending at eleven (11:00) p.m., on the holiday.

  • Shift differential is also not paid for working eligible hours on Grant Details (as distinguished from full-time grant-funded positions), Emergency Call Back, Court Time, DA Time, non-emergency call back time, or the ½ time premium component of Holiday Premium Pay.

  • Hours worked by an Officer on a Holiday, for which the Officer receives Holiday Premium Pay, will not count as hours worked for the purpose of calculating eligibility for overtime during the work week that includes the holiday.

  • In addition to Holiday Premium Pay, Officers who are scheduled to work on a day that is a holiday, as set out in Section 1, and who do work on that holiday will be allowed to choose to receive Holiday Pay, at their regular step rate of pay, or accrue Holiday Leave, for use at a later date, in an amount of hours equal to the number of hours they worked on the holiday, up to a maximum of 8 hours.

  • If due to a daybreaker schedule, an Officer is scheduled to work less than an entire shift (e.g., the Officer’s workweek begins at 10:00 pm on the holiday), in addition to receiving Holiday Premium Pay, the Officer will be allowed to choose to receive Holiday Pay at their regular step rate of pay, or accrue Holiday Leave for use at a later date, for the number of hours worked.


More Definitions of Holiday Premium Pay

Holiday Premium Pay means compensation paid to an Officer for work performed on a holiday, paid at the rate of either: (a) 1 1/2 times the Officer’s step rate of pay if the Officer works on a holiday and the hours the Officer works during that week do not result in the Officer being eligible for overtime; or (b) 1 1/2 times the Officer’s regular rate of pay, if an Officer works on a holiday and the hours the Officer works during that week do result in the Officer being eligible for overtime.
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Holiday Premium Pay. Any employee who works on any of the aforementioned holidays, shall receive premium pay at time and one-half (1-1/2) his straight time hourly rate of pay for the hours worked on such holiday in addition to his holiday pay. Any employee shall have the option to receive the equivalent number of hours off at the rate of one and one-half (1-1/2) times the number of hours worked on such holidays to be scheduled off by mutual agreement between the employee and the City; or to be paid. These hours will be defined as compensatory time, and will fall under the compensatory time limitations as stated in Article 14.2.1.
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Holiday Premium Pay means the additional pay (which is equal to the employee's basic rate of pay) for any nonovertime work performed by the employee during his or her regularly scheduled daily tour on a day designated as a holiday.
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Holiday Premium Pay. The amount in addition to an employee’s basic rate which an employee is paid for working on an authorized holiday or its observed equivalent. Holiday premium pay is paid in addition to Holiday Pay.
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Related to Holiday Premium Pay

  • Premium pay Per the statute, recipients have broad latitude to designate critical infrastructure sectors and make grants to third-party employers for the purpose of providing premium pay or otherwise respond to essential workers. While the interim final rule generally preserves the flexibility in the statute, it does add a requirement that recipients give written justification in the case that premium pay would increase a worker’s annual pay above a certain threshold. To set this threshold, Treasury analyzed data from the Bureau of Labor Statistics to determine a level that would not require further justification for premium pay to the vast majority of essential workers, while requiring higher scrutiny for provision of premium pay to higher- earners who, even without premium pay, would likely have greater personal financial resources to cope with the effects of the pandemic. Treasury believes the threshold in the interim final rule strikes the appropriate balance between preserving flexibility and helping encourage use of these resources to help those in greatest need. The interim final rule also requires that eligible workers have regular in-person interactions or regular physical handling of items that were also handled by others. This requirement will also help encourage use of financial resources for those who have endured the heightened risk of performing essential work.

  • Premium Payment Term means the term specified in the Schedule, during which the Premiums are payable by You;

  • Premium Payment Date in respect of any Option, means the date on which the Premium is due and payable, as agreed to at the time the Option is entered into, as evidenced in a Confirmation.

  • Premium Paying Term means the period specified in the Schedule during which the Regular Premium is payable.

  • Premium payment plan means a benefit plan whereby school em- ployees may pay their share of group health plan premiums with pretax dollars as provided in the salary reduction plan under chapter 41.05 RCW pursuant to 26 U.S.C. Sec. 125 or other sections of the Internal Revenue Code.