Longevity Payments definition

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

  • 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 attached to hourly rate and paid as part of regular salary.

  • Tab K.• Impact on Step Increases and Longevity Payments A more detailed analysis of these awards shows the contractual changes made to fit the award under the two percent cap.

  • 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.

  • Longevity Payments: Longevity payments shall be determined by the number of years employed with the district and shall be paid to the employee in December of each year as follows: $500 upon completion of 10 to 14 years $750 upon completion of 15 to 19 years $1,000 upon completion of 20 or more years Retirement Bargaining Unit Members may make contributions to a 403b/Tax Sheltered Annuity plan through payroll deductions as soon as employment begins.

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

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

  • This sum will not be reflected in the salary schedule and willbe paid in equal installments of $750 on January 1, 2021 and July 1, 2021.3. LONGEVITY PAYMENTS- Amend the schedule on Longevity Payments as follows:1.

  • An unsatisfactory rating in one year will not be a bar to annual increments or Longevity Payments in future years, if eligible.

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.

  • Annuity Payments The series of payments made to the Owner or any named payee after the Annuity Date under the Annuity Option selected. ANNUITY PERIOD: The period of time beginning with the Annuity Date during which Annuity Payments are made.

  • 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.

  • 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

  • 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.) No payment pursuant to this Schedule is payable to a dealer, bank or other service provider for the first year with respect to sales of $1 million or more, at no load, in cases where A I M Distributors, Inc. has advanced the service fee to the dealer, bank or other service provider.

  • 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 has the meaning set forth in Section 8.11.

  • 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 has the meaning specified in Section 10(a).

  • Earnout Payments has the meaning set forth in Section 2.2(a).

  • Additional Payments means the amounts required to be paid by the Company pursuant to the provisions of Section 4.2 hereof.