LONG SERVICE PAY Sample Clauses

The Long Service Pay clause establishes an employee's entitlement to a financial reward after completing a specified period of continuous service with an employer. Typically, this clause outlines the eligibility criteria, such as the minimum number of years required, and details the calculation method for the payment, which may be based on the employee's final salary or a set formula. Its core function is to recognize and reward employee loyalty, encouraging long-term retention and providing a clear framework for compensation upon reaching service milestones.
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LONG SERVICE PAY. In addition to the rates provided in Schedule A, all employees shall be entitled to long service pay of twenty-five dollars ($25) per month commencing on the first (1st) day of the month following completion of five (5) years' service.
LONG SERVICE PAY. In recognition of the principle that a long service employee is of increased value to the employer through his/her acquired knowledge and experience, the employer agrees to long service pay in accordance with the following table: One (1) to five (5) years of service - $10 per year For each additional year of service - $15 is to be added to the employee’s previous accumulation of money and paid to such employee on the second week in April of each year and only to those employees who have worked an average of twenty (20) hours per week over the six (6) month period preceding April 1st.
LONG SERVICE PAY. 26.01 In recognition of the principle that the long service employee is of increased value to the Employer through his acquired knowledge and experience, the Employer agrees to long service pay in accordance with the following table:
LONG SERVICE PAY. The provisions of this Article shall not apply to part-time employees.
LONG SERVICE PAY. All employees covered by this Agreement shall receive service pay for each month of actual employment as hereinafter provided: $ 6.25 per month after 8 years of service $12.50 per month after 13 years of service $18.75 per month after 18 years of service $25.00 per month after 23 years of service $31.25 per month after 28 years of service $37.50 per month after 33 years of service The service pay shall be paid annually on or before Pay Period #26 in the current year.
LONG SERVICE PAY. After 5 years - 1% of annual pay After 10 years - 1.5% of annual pay After 15 years - 2% of annual pay After 20 years - 2.5% of annual pay After 25 years - 3% of annual pay The Long Service Pay shall be paid once a year and not later than the 15th of December. Employees commencing employment on and after January 1, 1995, shall not be eligible to earn Long Service Pay.
LONG SERVICE PAY. 31:01 The Board agrees to continue to make the long service payment as set out in the previous collective agreements (Appendix “B”) to those employees who had qualified for such payment as of September 1, 1999. This entitlement shall be limited to employees who were formerly employed by the Windsor Roman Catholic Separate School Board and who have not enrolled in the RRSP Plan.
LONG SERVICE PAY. All employees covered by this Agreement shall receive service pay for each month of actual service employment as hereinafter provided. The service pay shall be paid annually on or before Pay Period #26 in the current year, except for seasonal employees who shall be paid in January of the year following entitlement. For the purposes of this Article, the following shall apply: a) Employees leaving the service of the City for any reason on or before the 15th day of any month shall not be entitled to service pay for that month. b) Employees commencing service after the 15th day of any month shall not be entitled to service pay for that month. c) In order to determine the length of service for temporary and seasonal employees, 21 days shall constitute one month, and 252 days shall constitute one year. Twelve dollars and fifty cents ($12.50) per month after completion of 10 years’ service. Twenty dollars ($20.00) per month after completion of 15 years’ service. Twenty-seven dollars and fifty cents ($27.50) per month after completion of 20 years’ service. Thirty five dollars ($35.00) per month after completion of 25 years’ service. Forty-two dollars and fifty cents ($42.50) after completion of 30 years’ service. Fifty dollars ($50.00) per month after completion of 35 years’ service.
LONG SERVICE PAY. The Corporation shall pay Long Service Pay to every employee on the first regular pay day after December 1st of each year, based upon continuous full time service as follows: Upon completion of five years' and less than ten years' service $ 65.00 annually Upon completion of ten years' and less than fifteen years' service $130.00 annually Upon completion of fifteen years' and less than twenty years' service $195.00 annually Upon completion of twenty years' and less than twenty-five years' service $260.00 annually Upon completion of twenty-five years' service and over $325.00 annually When an employee who is qualified to receive Long Service Pay, completes his fifth, tenth, fifteenth, twentieth or twenty-fifth year of service within any calendar year, he shall be paid the rate applicable to his term of service in that year. Any employee who leaves the service after completing five years' service shall be entitled to receive a proportionate part of the Long Service Pay which would have been payable to him for the calendar year in which he terminates his employment; provided that if any employee leaves the service before December 31st, after receiving Long Service Pay for that calendar year, the Corporation shall have the right to recover from the employee the proportionate part of such Long Service Pay, paid in advance, for which he is no longer entitled.
LONG SERVICE PAY. In recognition of the principle that the long service employee is of increased value to the Employer through his acquired knowledge and experience, the Employer agrees to long service pay in accordance with the following table: 5th anniversary up to and including 9th anniversary $80.00 10th anniversary up to and including 14th anniversary $150.00 15th anniversary up to and including 19th anniversary $220.00 20th anniversary up to and including 24th anniversary $290.00 25th anniversary up to and including the 29th anniversary $360.00 30th anniversary and beyond $430.00 This long service pay shall be due on November 30 of each year. On severance or retirement, an employee shall be entitled to long service pay calculated on a pro-rata basis from December 31 to the date of departure. In case of death, long service pay shall be paid to the employee’s beneficiary.