Entitlement and Calculation of Payment Clause Samples
The 'Entitlement and Calculation of Payment' clause defines the conditions under which a party is eligible to receive payment and outlines the method for determining the amount due. Typically, this clause specifies the criteria that must be met for payment, such as completion of certain milestones or delivery of goods or services, and details the formula or process for calculating the payment amount, including any adjustments, deductions, or applicable rates. Its core practical function is to ensure transparency and fairness in financial transactions by clearly establishing when and how payments are to be made, thereby reducing the risk of disputes over compensation.
Entitlement and Calculation of Payment. Full-Time
Entitlement and Calculation of Payment. Effective October and subject to maintaining any superior conditions concerning entitlement, vacation entitlement shall be as follows: An employee who has completed less than one year of continuous service as of July 1st shall be entitled to two weeks' annual vacation. Payment for such vacation shall be prorated in accordance with service. An employee who has completed one year but less than three years of continuous service as of July 1st shall be entitled to two weeks' annual vacation with pay. An employee who has completed three years but less than eight years of continuous service as of July 1st shall be entitled to three annual vacation with pay. An employee who has completed eight years but less than fifteen years of continuous service as of July 1st shall be entitled to four weeks' annual vacation with pay. An employee who has completed fifteen or more years of continuous service as of July 1st shall be entitled to five weeks' annual vacation with pay. An employee who has completed twenty-five or more years of continuous service as of July 1st shall be entitled to six weeks annual vacation with pay. Registered Nursing Assistants with one year of service shall receive three weeks vacation with pay. Registered Nursing Assistants who after completing four years of continuous employment shall receive four weeks vacation with pay. Vacation pay shall be calculated on the basis of the regular straight time rate of pay times their normal I weekly hours of work, subject to the the Effect of Absence provision. Approved Leave of Absence During'Vacation Where an employee's scheduled vacation is interrupted due to serious illness which commenced prior to and .continues into the scheduled vacation period, the period of such illness shall be considered sick leave. Where an scheduled vacation is interrupted due to serious illness requiring the employee to be an in-patient in a hospital, the period of such hospitalization shall be consid- ered sick leave. The portion of the employee's vacation which is deemed to be sick leave under the above provision will not be counted against the employee's vacation credits.
Entitlement and Calculation of Payment. Approved Leave of Absence During Vacation Health and Insured Benefits ...................
Entitlement and Calculation of Payment. An employee who has completed less than one (1) year of continuous service as of May 31st shall be entitled to two (2) weeks' annual vacation. Payment for such vacation shall be pro- rated in accordance with his/her service. An employee who has completed one (1) year but less than two (2) years of continuous service as of May 31st shall be entitled to two (2) weeks’ annual vacation with pay. An employee who has completed two (2) years but less than five (5) years of continuous service as of May 31st shall be entitled to three (3) weeks' annual vacation with pay. An employee who has completed five (5) years but less than twelve (12) years of continuous service as of May 31st shall be entitled to four (4) weeks’ annual vacation with pay. An employee who has completed twelve (12) but less than twenty (20) years of continuous service as of May 31st shall be entitled to five (5) weeks’ annual vacation with pay. An employee who has completed twenty (20) years but less than twenty-eight (28) years of continuous service as of May 31st shall be entitled to six (6) weeks’ annual vacation with pay. An employee who has completed twenty-eight (28) or more years of continuous service as of their anniversary date of hire shall be entitled to seven (7) weeks’ annual vacation with pay. For clarification, an employee will not be eligible to receive the seventh (7th) week of vacation where they have already received the additional five (5) days of supplemental vacation in the same vacation year. Vacation pay shall be calculated on the basis of the employee's regular straight time rate of pay times their normal weekly hours of work, subject to the application of the Effect of Absence provision.
Entitlement and Calculation of Payment. Full-Time An employee who has completed less than one (1) year of continuous service as of December 31st shall be entitled to two (2) weeks annual vacation. Payment for such vacation shall be prorated in accordance with his service. An employee who has completed one (1) year but less than two (2) years of continuous service as of December 31st shall be entitled to two (2) weeks annual vacation with pay. An employee who has completed two (2) years but less than five (5) years of continuous service as of December 31st shall be entitled to three (3) weeks of annual vacation with pay. An employee who has completed five (5) years but less than thirteen (13) years of continuous service as of December 31st shall be entitled to four (4) weeks of annual vacation with pay. An employee who has completed thirteen (13) years but less than twenty-one (21) years of continuous service as of December 31st shall be entitled to five (5) weeks of annual vacation with pay. An employee who has completed twenty-one (21) years but less than twenty-eight (28) years of continuous service as of December 31st shall be entitled to six (6) weeks annual vacation with pay. An employee who has completed twenty-eight (28) years of continuous service as of December 31st shall receive seven (7) weeks annual vacation with pay. Vacation pay shall be calculated on the basis of the employee’s regular straight time rate of pay times their normal weekly hours or work, subject to the application of the Effect of Absence provision. Part-Time A part-time employee who has completed less than 3,450 hours of continuous service as of December 31st shall receive 4% of gross earnings. A part-time employee who has completed 3,450 hours but less than 8,625 hours of continuous service as of December 31st shall receive 6% of gross earnings. A part-time employee who has completed 8,625 hours but less than 22,425 hours of continuous service as of December 31st shall receive 8% of gross earnings. A part-time employee who has completed 22,425 hours but less than 36,225 hours of continuous service as of December 31st shall receive 10% of gross earnings. An employee who has completed 36,225 hours but less than 48,300 hours of continuous service as of December 31st shall receive 12% of gross earnings. An employee who has completed 48,300 hours of continuous service as of December 31st shall receive 14% of gross earnings. For the purpose of this Article, gross earnings include, in part, percentage in lieu of benefits ...
Entitlement and Calculation of Payment. Full-Time An employee who has completed less than one (1) year of continuous service as of (the date for determining vacation entitlement in each Hospital) shall be entitled to two (2) weeks’ annual vacation. Payment for such vacation shall be prorated in accordance with their service. An employee who has completed one (1) year but less than two (2) years of continuous service as of (the date for determining vacation entitlement in each Hospital) shall be entitled to two (2) weeks’ annual vacation with pay. An employee who has completed two (2) years but less than five (5) years of continuous service as of (the date for determining vacation entitlement in each Hospital) shall be entitled to three (3) weeks’ annual vacation with pay. An employee who has completed five (5) years but less than twelve (12) years of continuous service as of (the date for determining vacation entitlement in each Hospital) shall be entitled to four (4) weeks’ annual vacation with pay. An employee who has completed twelve (12) years but less than twenty (20) years of continuous service as of (the date for determining vacation entitlement in each Hospital) shall be entitled to five (5) weeks’ annual vacation with pay. An employee who has completed twenty (20) years but less than twenty-eight (28) years of continuous service as of (the date for determining vacation entitlement in each Hospital) shall be entitled to six (6) weeks’ annual vacation with pay. An employee who has completed twenty-eight (28) or more years of continuous service as of (the date for determining vacation entitlement in each Hospital) shall be entitled to seven (7) weeks’ annual vacation with pay. For clarification, an employee will not be eligible to receive the seventh (7th) week of vacation where they have already received the additional five (5) days of supplemental vacation in the same vacation year. Vacation pay shall be calculated on the basis of the employees’ regular straight time rate of pay times their normal weekly hours of work, subject to the application of the Effect of Absence provision. Part-Time A part-time employee who has completed less than 3,450 hours of continuous service as of (the date for determining vacation entitlement in each Hospital) shall receive 4% of gross earnings. A part-time employee who has completed 3,450 hours but less than 8,625 hours of continuous service as of (the date for determining vacation entitlement in each Hospital) shall receive 6% of gross earnings. A part-t...
Entitlement and Calculation of Payment. Effective October and subject to maintaining any superior conditions concerning entitlement, vacation entitlement shall be as follows: An employee who has completed less than one year of continuous service as of May in any year shall be entitled to two weeks' annual vacation. Payment for such vacation shall be prorated in accordance with his/her service. An employee who has completed one year but less than three years of continuous service as of May in any year shall be entitled to two weeks' annual vacation with pay. An employee who has completed three years but less than eight years of continuous service as of May in any year shall be entitled to three weeks' annual vacation with pay. Vacations on the foregoing basis in the case of and will be three weeks after one year and four weeks after five years. An employee who has completed eight years but less than seventeen years of continuous service as of May in any year shall be entitled to four weeks' annual vacation with An employee who has completed seventeen or more years of continuous service as of May in any year shall be entitled to five weeks' annual vacation with pay. Effective in the vacation year where the date for determin- ing vacation entitlement in the individual Hospital falls on or after January the service requirement for five weeks vacation shall be fifteen or more years of full-time continuous service. Effective in the vacation year where the date for determin- ing vacation entitlement in the individual Hospital falls on or after January the service requirement for six weeks vacation shall be twenty-five or more years of full-time continuous services. Vacation pay shall be calculated on the basis of the employees' regular straight time rate of pay times their normal weekly hours of work, subject to the application on the Effect of Absence provision.
Entitlement and Calculation of Payment. Employees shall receive vacations with pay according to length of service as follows: An employee who has completed less than one (1) year of continuous service as of June 30th shall be entitled to three (3) weeks’ annual vacation. Payment for such vacations shall be prorated in accordance with his/her service. An employee who has completed one (1) year but less than five (5) years of continuous service as of June 30th shall be entitled to 3 weeks annual vacation with pay. An employee who has completed five (5) years but less than eleven (11) years of continuous service as of June 30th shall be entitled to 4 weeks annual vacation with pay. An employee who has completed eleven (11) years but less than sixteen (16) years of continuous service as of June 30th shall be entitled to 5 weeks’ annual vacation with pay. An employee who has completed sixteen (16) or more years of continuous service as of June 30th shall be entitled to 6 weeks’ annual vacation with pay. Vacation pay shall be calculated on the basis of the employee’s regular straight time rate of pay times their normal weekly hours of work, subject to the application of the Effect of Absence Provision in Article 9.
Entitlement and Calculation of Payment. Subject to maintaining any superior conditions concerning entitlement, vacation entitlement shall be as follows:
Entitlement and Calculation of Payment. Approved Leave of Absence During Vacation Vacation Pay on Termination .............