Availability premium Clause Samples
An availability premium clause establishes an additional payment or fee that is owed when a service, asset, or resource is made available beyond standard expectations or requirements. In practice, this clause might apply in contracts for equipment leasing, where the lessee pays a premium if the equipment is kept on standby for immediate use, or in energy supply agreements, where a generator receives extra compensation for being ready to supply power on demand. The core function of this clause is to incentivize and compensate the provider for maintaining readiness or excess capacity, thereby ensuring reliability and flexibility for the recipient.
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Availability premium. The employee who, at the board’s request, accepts to be available outside of his or her regular work schedule shall receive an availability premium equal to one (1) hour of work at the single rate after each complete eight (8) hours of availability. The local parties may agree on the terms and conditions for applying the premium through local adaptations.
Availability premium. The employee on availability after his regular workday or workweek shall be entitled to a premium equivalent to one (1) hour at a simple rate, for each period of eight (8) hours of availability. The parties may agree by local agreement on the terms and conditions of applying this premium.
Availability premium. In recognition of the special nature of law enforcement extra duties, 24/7 availability, and unscheduled events, employees will receive a three percent (3%) salary premium.
Availability premium. The professional required to be available, at the express request of the College, shall receive remuneration of one (1) hour at the hourly rate corresponding to his/her salary scale for each eight (8) hour period he/she is available, paid on a pro rata basis for the time required to be available.