Common use of Retroactive Payment Clause in Contracts

Retroactive Payment. No later than October 15, 2024, Pilots, who are Active on September 30, 2024 shall receive a one-time only retroactive payment for the period of January 1, 2024 to June 30, 2024 (“Retro Period”). This payment shall equate to the Pilot’s applicable July 1, 2024 rate of pay for their applicable Position(s) within the Retro Period, less their pre-ratification rate of pay for their applicable Position(s) within the Retro Period, multiplied by the hours worked by the Pilot within the Retro Period less any MOA4 lump sum payment paid over the Retro Period, excluding stipends and other forms of compensation. This retroactive payment shall also include a WSP top-up payment, which shall be paid as a one-time lump sum payment equivalent to the Pilot’s applicable July 1, 2024 rate of pay for their applicable Position(s) within the Retro Period, less their pre-ratification rate of pay for their applicable Position(s) within the Retro Period, multiplied by the WSP eligible hours worked by the Pilot within the Retro Period multiplied by the Pilot’s actual WSP contributions made in the Retro Period. For Pilots who are Inactive on the last day of the pay period in which the retroactive payment is issued, they shall receive a one-time only retroactive payment for the period of January 1, 2024 to June 30, 2024 upon their first pay period following return to Active status. The payment shall equate to the Pilot’s applicable July 1, 2024 rate of pay for their applicable Position(s) within the Retro Period, less their pre- ratification rate of pay for their applicable Position(s) within the Retro Period, multiplied by the hours worked by the Pilot within the Retro Period less any MOA4 lump sum payment paid over the Retro Period, excluding stipends and other forms of compensation. Such retroactive payment shall include a WSP replacement payment which shall equate to the Pilot’s applicable July 1, 2024 rate of pay for their applicable Position(s) within the Retro Period, less their pre-ratification rate of pay for their applicable Position(s) within the Retro Period, multiplied by the WSP eligible hours worked by the Pilot within the Retro Period multiplied by the Pilot’s actual WSP contributions made in the Retro Period.