Common use of Longevity Bonus Clause in Contracts

Longevity Bonus. 1. Upon completion of the following years of employment, Employer shall pay eligible employees hired on or before January 1, 1998, an annual longevity bonus, the amounts which follow, at the pay period which follows the anniversary date of employment: After 5 through 9 years service 1.5% of annual salary on anniversary date After 10 through 14 years service 2% of annual salary on anniversary date After 15 through 19 years service 2.5% of annual salary on anniversary date After 20+ years service 3% of annual salary on anniversary date Longevity bonus pay for employees hired after January 1, 1998, and prior to January 1, 2014, shall be as follows: After 5 through 9 years service 1.0% of annual salary on anniversary date After 10 through 14 years service 1.5% of annual salary on anniversary date After 15 through 19 years service 2.0% of annual salary on anniversary date After 20+ years service 2.5% of annual salary on anniversary date

Longevity Bonus. 1. Upon completion of the following years of employment, Employer shall pay eligible employees hired on or before January 1, 1998, 1998 an annual longevity bonus, the amounts which follow, at the pay period which follows the anniversary date of employment: After 5 through thru 9 years service 1.5% of annual salary on anniversary date date. After 10 through thru 14 years service 22.0% of annual salary on anniversary date date. After 15 through thru 19 years service 2.5% of annual salary on anniversary date After date. 20+ years service 33.0% of annual salary on anniversary date date. Longevity bonus pay for employees hired after January 1, 1998, and prior to January 1, 2014, shall be earned as follows: After 5 through thru 9 years service 1.0% of annual salary on anniversary date After 10 through thru 14 years service 1.5% of annual salary on anniversary date After 15 through thru 19 years service 2.0% of annual salary on anniversary date After 20+ years service 2.5% of annual salary on anniversary date