Bridging Incentive Clause Samples
Bridging Incentive. To be eligible for the bridging incentive employees must: • Be Regular Full-time or Regular Part-time* • Be less than 55 years of age, however, age plus service is equal to or greater than 80. Eligible employees will receive: • A bridging allowance, up to a maximum equivalent of 52 weeks base salary**
Bridging Incentive. To be eligible for the bridging incentive employees must: *Lump sum payment for Regular Part-time employees shall be prorated as follows: For severance purposes, service is represented as the sum of (i) any period or periods of Regular Full-Time employment and (ii) any period or periods of Regular Part-Time employment, pro-rated accordingly. **The Bridging Allowance to be calculated pursuant to current monthly bridging formula. Bridging Allowance Top up Formula: # of months remaining to Age 55 X 26 weeks base pay = Top up allowance 24 months The following examples illustrate the calculation of the Bridging Allowance Top up: