Float Differential Clause Samples
A Float Differential clause defines how differences in interest rates, or 'float,' are calculated and allocated between parties in a financial agreement. Typically, this clause specifies the reference rates used, the calculation method for the differential, and the timing of any payments or adjustments resulting from these differences. For example, in a construction contract, it might address how changes in benchmark interest rates affect payment obligations. The core function of this clause is to ensure transparency and fairness in handling interest rate fluctuations, thereby allocating financial risk related to variable rates between the parties.
Float Differential. Nurses in inpatient and outpatient areas who float off of their home unit at the Employer’s request on two (2) or more shifts for four (4) or more hours within any two (2) consecutive workweeks as defined by the Employer shall receive a float differential of $2.00 per hour for all hours floated during the two-week period. For the purpose of this paragraph, CHO nurses are considered to be in one unit.
Float Differential. For all nurses employed as designated Float Pool nurses at the time of ratification of this Agreement, the Medical Center will pay a 15% differential. That differential will not apply to any nurses hired into the float pool after December 31, 2011.
Float Differential. Nurses who float from their home department shall receive a float differential of five percent (5%) above the Nurse’s base rate of pay for all hours worked while floating. The five percent (5%) Float Differential will apply when a Nurse is temporarily assigned to work outside of her/his regular department in order to fill vacancies that occur in the regular functioning of the Hospital. (See Article II B.2.) The five percent (5%) Float Differential will not apply when the Nurse temporarily assigned to work outside of her/his regular department is cross trained to the department to which she/he would be assigned. Departments are defined in Appendix E.
Float Differential. Nurses who are required to float as needed from their home unit to another unit shall receive a float differential of $1.75 per hour while working in the unit to which they have floated. For purposes of this provision, “unit” refers to Med/Surg, OB, ICU, Surgical Services, ER, Long Term Care, Home Health, Infusion Therapy, and Physician Clinics.
Float Differential. For all nurses employed as designated float pool nurses 6 at the time of ratification of this agreement, the Medical Center will pay a 7 15% differential. That differential will not apply to any nurses hired into the 8 float pool after December 31, 2011, but such nurses are eligible to receive a 9 one-time $2,000 bonus (less applicable withholdings) if they work in the float 10 pool for two (2) full consecutive years following ratification. The nurse must 11 notify the Medical Center that the nurse has completed the two (2) years of 12 post-ratification float pool work to receive the bonus.
Float Differential. CNAs on the Resource Team/Float Pool will be paid a differential of $1.00 per hour.
Float Differential. Float nurses shall be compensated two dollars ($2.00) per hour in addition to their regular base rate of pay for each hour worked in the department to which they are floated.
Float Differential. Except in the instances of internal or external disaster, the Employer agrees to the payment of a differential for floating (or pulling) $1.00 per hour and shall be payable when a Medical Center employee who is regularly assigned to a Medical Center location is required to float outside of the Medical Center for more than half of the employee’s shift, or when a Medical Center employee who is regularly assigned to a non-Medical Center location is required to float to the Medical Center for more than half of the employee’s shift.
Float Differential. Cluster Position Nurse
Float Differential. A regularly assigned nurse who is floated to a group other than his/her regularly assigned group will receive a differential of $2.25 for actual hours floated.
a. Staffing shall be per Unit as in current practice, except for floats who shall be by Groups.