Longevity Payments definition

Longevity Payments means certain longevity bonuses due to certain executive employees of the Borrower under employment agreements.

Examples of Longevity Payments in a sentence

  • This program allows eligible employees to use a portion of their Longevity Payments toward the employees share of Health Insurance premiums.

  • Employees will be granted longevity payments in addition to established salary as follows: After 10 years $800 After 15 years $1,000 After 20 years $1,200 After 25 years $1,500 Section 13.2 Longevity Payments.

  • Longevity Payments are made in September following the conclusion of five (5), ten (10), fifteen (15) and twenty (20) years of service.

  • Longevity Payments shall be made in the first pay period in November, following the anniversary date.

  • Longevity Payments Years Years Years YearsBeyond the top step (Step 14), Unit A members receive a lump sum “longevity payment” every year.

  • Each year of the contract shall include Fall Wage Openers & Full Longevity Payments.

  • All annual increments and Longevity Payments shall be conditioned on ratings pursuant to the performance evaluation system as provided herein.

  • Full-Time employees who are entitled to Longevity Payments, who enroll in this portion of the program may choose to direct a percentage ranging from 10% to 80% of their entitled Longevity Payment to be applied toward the employee share of premiums deducted from their biweekly paychecks during the calendar year.

  • Those licensed staff members who have achieved continuing contract status shall be eligible for Longevity Payments.

  • Section 17 – Longevity Payments Currently, longevity payments for administrators in this group are based upon years of service with Rochester Community Schools.

Related to Longevity Payments

  • Production Payments means, collectively, Dollar-Denominated Production Payments and Volumetric Production Payments.

  • Capitation Payment means a payment the STATE makes periodically to the MCO for each Enrollee covered under the Contract for the provision of services as defined in Article 6 regardless of whether the Enrollee receives these services during the period covered by the payment.

  • Service payments means payments to the private entity of a qualifying project pursuant to a service contract.

  • Volumetric Production Payments means production payment obligations recorded as deferred revenue in accordance with GAAP, together with all undertakings and obligations in connection therewith.

  • Advance Payments means the payments made by Customer in advance of delivery with respect of an Aircraft pursuant to Section 4.2 of the Purchase Agreement.

  • Exception Payments means payments to deposit accounts or brokerage accounts, payments to settle securities transactions (including, without limitation, stocks, bonds, securities, futures (forex), options, or an investment interest in any entity or property).

  • Rental Payments means the rental payments paid by the occupant of a unit, excluding any supplemental rental assistance to the occupant from the State, the federal government, or any other public agency, but including any mandatory fees or charges imposed on the occupant by the Owner as a condition of occupancy of the unit.

  • FILOT Payments means the amount paid or to be paid in lieu of ad valorem property taxes as provided herein.

  • Production Payment means a production payment obligation (whether volumetric or dollar denominated) of the Borrower or any of its Restricted Subsidiaries which are payable from a specified share of proceeds received from production from specified Oil and Gas Properties, together with all undertakings and obligations in connection therewith.

  • Progress Payments County shall make periodic progress payments consist with the Contract Price on the basis of Contractor's Applications for Payments, as provided in paragraph 5.2.1 below. (Payment pursuant to this Contract shall be made as earned, in whole or in part, from available County funds in an amount not to exceed the contract amount.) 5.2.1 Prior to Contract Completion, unless terminated prior to Completion, progress payments shall occur in an amount equal to:

  • Royalty Payments has the meaning set forth in Section 7.3.1.

  • Compensation Payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an insurer to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the insurer’s contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the insurer accepts liability for having caused the loss concerned, but excludes any –

  • Lease Payments means the rental payments described in Exhibit A hereto.

  • Minimum Payments $50 (with respect to all funds in the aggregate.)

  • Special Allowance Payments means payments, designated as such, consisting of effective interest subsidies by the Department in respect of the Trust Student Loans to the Eligible Lender Trustee on behalf of the Trust in accordance with the Higher Education Act.

  • Payments means the payments made to the Contractor by the Client pursuant to the terms and conditions of this Agreement.

  • Earn-Out Payments has the meaning set forth in Section 2.3(a).

  • Interim Payment has the meaning specified in Section 10.1.

  • Advance Reimbursement Amounts As defined in Section 3.29 hereof.

  • Contingent Compensation Payment means any payment (or benefit) in the nature of compensation that is made or made available (under this Agreement or otherwise) to a “disqualified individual” (as defined in Section 280G(c) of the Code) and that is contingent (within the meaning of Section 280G(b)(2)(A)(i) of the Code) on a Change in Ownership or Control of the Company.

  • Interest Subsidy Payments means payments, designated as such, consisting of interest subsidies by the Department in respect of the Trust Student Loans to the Eligible Lender Trustee on behalf of the Trust in accordance with the Higher Education Act.

  • Termination Payments means any payment or distribution of Compensation or benefits made pursuant to Section 4.1(a)-(c) of this Agreement.

  • Earnout Payments has the meaning set forth in Section 2.06(a).

  • Delta Payment means as it is described in this Agreement.

  • Additional Payments means additional amounts required to be paid to a holder of any Note pursuant to Section 13 by reason of a Change in Tax Law; and a “Change in Tax Law” means (individually or collectively with one or more prior changes) (i) an amendment to, or change in, any law, treaty, rule or regulation of Canada after the date of the Closing, or an amendment to, or change in, an official interpretation or application of such law, treaty, rule or regulation after the date of the Closing, which amendment or change is in force and continuing and meets the opinion and certification requirements described below or (ii) in the case of any other jurisdiction that becomes a Taxing Jurisdiction after the date of the Closing, an amendment to, or change in, any law, treaty, rule or regulation of such jurisdiction, or an amendment to, or change in, an official interpretation or application of such law, treaty, rule or regulation, in any case after such jurisdiction shall have become a Taxing Jurisdiction, which amendment or change is in force and continuing and meets such opinion and certification requirements. No such amendment or change shall constitute a Change in Tax Law unless the same would in the opinion of the Company (which shall be evidenced by an Officer’s Certificate of the Company and supported by a written opinion of counsel having recognized expertise in the field of taxation in the Taxing Jurisdiction, both of which shall be delivered to all holders of the Notes prior to or concurrently with the Tax Prepayment Notice in respect of such Change in Tax Law) affect the deduction or require the withholding of any Tax imposed by such Taxing Jurisdiction on any payment payable on the Notes.

  • Loan Payments means the amounts required to be paid by the Company in repayment of the Loan pursuant to Section 4.1 hereof.