Longevity Incentive Clause Samples
A Longevity Incentive clause is designed to reward parties, typically employees or contractors, for remaining with an organization or continuing a contractual relationship for a specified period. This clause often provides financial bonuses, additional benefits, or other forms of compensation that vest or become payable after certain milestones or durations of service are reached. By offering tangible rewards for long-term commitment, the clause encourages retention and helps organizations reduce turnover and maintain continuity in key roles.
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Longevity Incentive. Upon ratification in May, 2002, the District shall provide a Longevity Incentive payment of $325 to each unit member.
Longevity Incentive. The Board shall contribute funds into a post-retirement Health Retirement Account pursuant to Appendix A.
Longevity Incentive. Individuals may access either this section or section 406.1, but cannot access both at the same time.
Longevity Incentive. 3.3.1 To encourage and reward employee longevity, the City will provide the following longevity incentives upon employee permanent status anniversary date: • Completion of five (5) years of service to the City of ▇▇▇▇▇: three percent (3%) of Base Salary. • Completion of ten (10) years of service to the City of ▇▇▇▇▇: three percent (3%) of Base Salary. • Completion of fifteen (15) years of service to the City of ▇▇▇▇▇: four percent (4%) of Base Salary.
3.3.2 The incentives are cumulative, not compounded, and cannot exceed ten percent (10%).
Longevity Incentive. Athletic Director and Coaches are eligible to receive longevity pay as outlined below. Longevity pay will only accrue with experience gained in the Manhattan School District. Longevity will only be earned with experience gained in the same activity.
Longevity Incentive. Effective January 1, 2017, eligible officers will receive longevity incentive for years of service with the City as follows:
Longevity Incentive. The District will provide a Longevity Incentive program as follows: 6th through 10th year: $25.00 monthly 11th through 15th year: $50.00 monthly 16th through 20th year: $75.00 monthly 21st and thereafter: $100.00 monthly
Longevity Incentive. Effective July 1, 2027, longevity pay will be based on the Employee’s years of service from their date of hire. Longevity Pay will be part of the Employee’s base pay. Maximum longevity pay is 4% of base pay. After six (6) years of completed full-time permanent service (72 months), employees will receive 2% additional base pay starting on the first day of the 73rd month. After twelve (12) years of completed full-time permanent service (144 months), employees will receive 2% additional base pay (for a total of 4%) starting on the first day of the 145th month.
Longevity Incentive. The School District shall make an annual payment to a tax shelter for the Assistant Superintendent under the following schedule so long as the Assistant Superintendent remains employed as of the date of the contribution. The Assistant Superintendent shall be eligible for a $5,000.00 contribution on July 1, 2022; the Assistant Superintendent shall be eligible for a $5,000.00 contribution on July 1, 2023; the Assistant Superintendent shall be eligible for a $10,000 contribution on July 1, 2024; the Assistant Superintendent shall be eligible for a $10,000 contribution on July 1, 2025 and the Assistant Superintendent shall be eligible for a $20,000 contribution on June 30, 2026. For purposes of this Agreement, the longevity incentive shall not be considered part of the Assistant Superintendent’s annual salary.
Longevity Incentive. Coaches and sponsors that serve in the same extra curricular program, in a paid position, for a designated period of time will be given a stipend for longevity. For example when an assistant coach achieves longevity and then moves into a head coach position, they will maintain the longevity stipend. The incentive will be based on the base salary. Longevity will be applied after completion of year 5 and/or year 10. The table is as follows: 5 Years 1%