RATIFICATION AND RECOGNITION LUMP SUM Clause Samples

The "Ratification and Recognition Lump Sum" clause establishes a one-time payment to employees or a union upon the formal approval and acknowledgment of a new collective bargaining agreement. Typically, this lump sum is distributed after the agreement is ratified by union members and recognized by the employer, serving as an incentive or compensation for the period during which negotiations took place. The core function of this clause is to provide immediate financial benefit to employees in recognition of their patience and cooperation during the bargaining process, thereby facilitating smoother labor relations and agreement implementation.
RATIFICATION AND RECOGNITION LUMP SUM. Effective the first full pay period following 60 days after ratification, all Residents shall receive a non- base-building $4,000.00 lump sum payment. Such payment will be paid as wages and subject to all taxes and other appropriate deductions, excluding Union dues. Eligible Residents must be in the bargaining unit on the date of payout.
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Related to RATIFICATION AND RECOGNITION LUMP SUM

  • Ratification and Confirmation of Agreement In the event of a conflict between the terms of this Amendment and the Agreement, it is the intention of the parties that the terms of this Amendment shall control and the Agreement shall be interpreted on that basis. To the extent the provisions of the Agreement have not been amended by this Amendment, the parties hereby confirm and ratify the Agreement.

  • Ratification and Reaffirmation Each Borrower hereby ratifies and reaffirms the Obligations, each of the Loan Documents and all of such Borrower's covenants, duties, indebtedness and liabilities under the Loan Documents.

  • Ratification of Agreements The Original Agreement as hereby amended is hereby ratified and confirmed in all respects. The Loan Documents, as they may be amended or affected by this Amendment, are hereby ratified and confirmed in all respects. Any reference to the Credit Agreement in any Loan Document shall be deemed to be a reference to the Original Agreement as hereby amended. The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of the Lenders under the Credit Agreement, the Notes, or any other Loan Document nor constitute a waiver of any provision of the Credit Agreement, the Notes or any other Loan Document.

  • Ratification of Agreement As supplemented by this Supplement, the Agreement is in all respects ratified and confirmed and the Agreement as so supplemented by this Supplement shall be read, taken and construed as one and the same instrument.

  • ARTICLE I - RECOGNITION 11 This agreement is applicable for employees as defined in Certificate Number 4 granted by the Public 12 Employees Relations Commission on February 14, 1975, and issued to the Okaloosa County Education 13 Association: