Contract Ratification Bonus Clause Samples
A Contract Ratification Bonus clause provides for a financial incentive to be paid to certain parties upon the formal approval or ratification of a contract. Typically, this bonus is awarded to employees, executives, or representatives who played a key role in negotiating or finalizing the agreement, and the payment is contingent on the contract becoming legally binding. The core function of this clause is to motivate and reward individuals for their efforts in successfully bringing the contract to completion, thereby encouraging timely and effective negotiation and execution.
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Contract Ratification Bonus. If this negotiated agreement is ratified by the NTA membership by June 4, 2016, all NTA employees who are actively employed on May 25, 2016 will receive a contract ratification bonus of $1,500. If the contract is ratified after June 4, but before June 8, 2016, the contract ratification bonus will be $1,200. The bonus will be paid in June, 2016.
Contract Ratification Bonus. Effective the first full pay period in July 2022, or the first full pay period after Council approval of this MOU, whichever is later, all employees shall receive a one-time, non-pensionable lump sum payment of one thousand dollars ($1,000).
Contract Ratification Bonus. Each bargaining unit employee who was on the payroll as of October 6, 2003, and is actively employed on the date of payment of this bonus, shall receive a contract ratification bonus, as follows: General Merchandise Clerks/Meat Clerks/Service Seafood/Head Delicatessen Operator/Bakery, Health & Beauty Aids & Household Hardware Clerks - All eligible employees shall receive thirty cents (30¢) for each hour for which the employee was compensated for the fifty-two (52) calendar weeks preceding October 6, 2003. This contract ratification bonus will be paid no later than thirty (30) days from March 1, 2004 to employees who are actively employed on that date or thirty (30) days from when an employee returns to work from an approved leave of absence or layoff. This provision will apply to employees on approved leave of absence or layoff at the time of reinstatement who are actively employed at the time payment is due. This payment also will be made no later than thirty (30) days following the expiration of the employee's recall rights under the terms of this Agreement.
Contract Ratification Bonus. Eligible GAs will receive a Contract Ratification Bonus Payment in the amount of $184, less regular payroll deductions and contributions, within sixty (60) calendar days following ratification.
Contract Ratification Bonus. If the contract is ratified by midnight, March 20, 2022, a ratification bonus of two-thousand dollars ($2,000) subject to applicable withholdings will be paid on the March 31, 2022 pay date to all employees on the active payroll effective March 21, 2022, and those employees who return from layoff, leave of absence, Accident and Sickness, Workers’ Compensation, and Family Medical Leave between March 22, 2022 and March 17, 2023, and who remain on the active payroll for four (4) full consecutive weeks.
Contract Ratification Bonus. Each bargaining unit employee who was on the payroll as of October 6, 2003, and is actively employed on the date of payment of this bonus, shall receive a bonus, as follows: This contract ratification bonus will be paid no later than thirty (30) days from March 1, 2004 to employees who are actively employed on that date or thirty (30) days from when an employee returns to work from an approved leave of absence or layoff. This provision will apply to employees on approved leave of absence or layoff at the time of reinstatement who are actively employed at the time payment is due. This payment also will be made no later than thirty (30) days following the expiration of the employee's recall rights under the terms of this Agreement.
Contract Ratification Bonus. Each bargaining unit employee who was on the payroll as of the date of ratification, and is actively employed on the date of payment of this bonus, shall receive a contract ratification bonus, as follows:
Contract Ratification Bonus. Each bargaining unit employee who was on the payroll as of October 6, 2003, and is actively employed on the date of payment of this bonus, shall receive a bonus, as follows: This contract ratification bonus will be paid no later than thirty (30) days from March 1, 2004 to employees who are actively employed on that date or thirty
Contract Ratification Bonus. 50.1 All full-time and part-time Employees who have successfully completed their probationary period as of the effective date of this Agreement shall be entitled to receive a contract ratification bonus equal to one percent (1%) of the gross W-2 wages paid to them during the period from March 8, 2020 through December 31, 2020. Such amount shall be payable as an additional wage payment payable with wages for the first payroll period to begin in 2021.