Years of Service Pay Clause Samples

The 'Years of Service Pay' clause establishes additional compensation or benefits for employees based on the length of their employment with the company. Typically, this clause outlines how pay increases, bonuses, or other rewards are calculated according to the number of years an employee has worked, such as providing a set bonus for every five years of service. Its core function is to recognize and reward employee loyalty and long-term commitment, thereby incentivizing retention and reducing turnover.
Years of Service Pay. In additon to the base wage, emplyees with twenty (20) or more years of service shall receive a years of service payment of fifty cent ($.50) per hour.
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Years of Service Pay. In addition to the base wage, employees with three (3) or more years of service shall receive a years of service payment as indicated below:
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Years of Service Pay. In additon to the vase wage, emplyees with twenty (20) or more years of service shall receive a years of service payment of fifty cent ($.50) per hour.
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Related to Years of Service Pay

  • 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.

  • PERIOD OF SERVICE The Grant Services will commence on the Start Date and shall expire on the End Date as set forth in the SUMMARY PAGE.

  • 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:

  • Hours of Service The minimum number of Hours of Service an Employee must complete during a vesting computation period to receive credit for a Year of Service is: (Choose (c) or (d)) [X] (c) 1,000 Hours of Service.