Common use of December bonus Clause in Contracts

December bonus. The December bonus for each calendar year, based on full-time employment, is to be as follows: In 2015: ISK 78,000 In 2016: ISK 82,000 In 2017: ISK 86,000 In 2018: ISK 89,000 A full year’s employment, for this purpose, is 45 worked weeks or more, excluding holiday time (annual vacation). The bonus is to be paid no later than 15 December of each year, based on the employee’s job proportion and length of employment, to all employees who have been employed by an employer for 12 weeks over the past 12 months or who are employed during the first week of December. An agreement may be reached with the employee to the effect that the settlement period runs from 1 December to 30 November of each year instead of the calendar year. The December bonus includes holiday (vacation) pay, and it is a fixed amount that is not subject to changes according to other provisions. Accrued December bonus shall be paid upon termination of employment in the event that such termination occurs prior to the due date for the bonus.

December bonus. The December bonus for each calendar year, based on full-time employment, is to be as follows: In 2015: 2019 ISK 78,000 92,000 In 2016: 2020 ISK 82,000 94,000 In 2017: 2021 ISK 86,000 96,000 In 2018: 2022 ISK 89,000 98,000 A full year’s employment, for this purpose, is 45 worked weeks or more, excluding holiday time (annual vacation)) or 1,687.5 hours for office workers and 1,777.5 hours for shop assistants. As of 1 January 2020, the aforementioned figures will be based on a 45-minute shorter work week, i.e. 1,653.75 for office workers and 1,743.75 hours for shop assistants. The bonus is to be paid no later than 15 December of each year, based on the employee’s job proportion and length of employment, to all employees who have been employed by an employer for 12 weeks over the past 12 months or who are employed during the first week of December. An agreement may be reached with the employee to the effect that the settlement period runs from 1 December to 30 November of each year instead of the calendar year. The December bonus includes holiday (vacation) pay, and it is a fixed amount that is not subject to changes according to other provisions. Accrued December bonus shall be paid upon termination of employment in the event that such termination occurs prior to the due date for the bonus.

December bonus. The December bonus for each calendar year, based on full-time employment, is to be as follows: In 2015: 2023 ISK 78,000 In 2016: ISK 82,000 In 2017: ISK 86,000 In 2018: ISK 89,000 103,000 A full year’s employment, for this purpose, is 45 worked weeks or more, excluding holiday time (annual vacation)) or 1,653.75 hours for office workers and 1,743.75 hours for shop assistants. The bonus is to be paid no later than 15 December of each year, based on the employee’s job proportion and length of employment, to all employees who have been employed by an employer for 12 weeks over the past 12 months or who are employed during the first week of December. An agreement may be reached with the employee to the effect that the settlement period runs from 1 December to 30 November of each year instead of the calendar year. The December bonus includes holiday (vacation) pay, and it is a fixed amount that is not subject to changes according to other provisions. Accrued December bonus shall be paid upon termination of employment in the event that such termination occurs prior to the due date for the bonus.

December bonus. The December bonus for each calendar year, based on full-time employment, is to be as follows: In 2015: ISK 78,000 In 2016: 92,000 in 2019, ISK 82,000 In 2017: 94,000 in 2020, ISK 86,000 In 2018: 96,000 in 2021, ISK 89,000 98,000 in 2022, A full year’s employment, for this purpose, is 45 worked weeks or more, excluding holiday time (annual vacation). The bonus is to be paid no later than 15 December of each year, based on the employee’s job proportion and length of employment, to all employees who have been employed by an employer for 12 weeks over the past 12 months or who are employed during the first week of December. An agreement may be reached with the employee to the effect that the settlement period runs from 1 December to 30 November of each year instead of the calendar year. The December bonus includes holiday (vacation) pay, and it is a fixed amount that is not subject to changes according to other provisions. Accrued December bonus shall be paid upon termination of employment in the event that such termination occurs prior to the due date for the bonus. For the December bonus of apprentices, see the chapter on the wages and terms of apprentices.