Years of Service Allowance Clause Samples

Years of Service Allowance. (a) All existing years of service allowances will be reset to zero, and from the approval date of this agreement, employees will only receive a years of service allowance in accordance with this clause. (b) In addition to the Company Base Rate, employees will receive an allowance when working their ordinary hours of work in accordance with the following table: 4 years or less $3.00 Over 4 years (capped at 20 years) $2.00 (c) Apprentices will be entitled to receive a years of service allowance in accordance with clause 11.4.
View SourceView Similar (4)

Related to Years of Service Allowance

  • Years of Service A Participant’s Years of Service shall include all service performed for the Employer and ¨ Shall ¨ Shall Not include service performed for the Related Employer.

  • Year of Service An Employee must complete at least Hours of Service during a Vesting Computation Period to receive credit for a Year of Service under Article V. [Note: The number may not exceed 1,000. If left blank, the requirement is 1,000.]

  • Credited Service In addition to Current Credited Service the Adopting Employer may include as Credited Service the following types of service:

  • Annual Compensation The Executive’s “Annual Compensation” for purposes of determining severance payable under this Agreement shall be deemed to mean the sum of (i) the annual rate of Base Salary as of the Date of Termination, and (ii) the cash bonus, if any, earned by the Executive for the calendar year immediately preceding the year in which the Date of Termination occurs.

  • Retirement Allowance Prior to issuing notice of layoff pursuant to article 9.08(a)(ii) in any classification(s), the Hospital will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under HOOPP within the classification(s) in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the classification(s) who would otherwise receive notice of layoff under article 9.08(a)(ii). An employee who elects an early retirement option shall receive, following completion of the last day of work, a retirement allowance of two weeks' salary for each year of service, plus a prorated amount for any additional partial year of service, to a maximum ceiling of 26 weeks' salary, and, in addition, full-time employees shall receive a single lump-sum payment equivalent to $1,000 for each year less than age 65 to a maximum of $5,000 upon retirement."