Longevity Bonuses Clause Samples
The Longevity Bonuses clause establishes additional compensation for employees or contractors based on their length of service with an organization. Typically, this clause outlines specific milestones—such as annual anniversaries or multi-year periods—at which bonuses are awarded, and may detail the calculation method or eligibility requirements. Its core practical function is to incentivize long-term commitment and reward loyalty, helping to retain valuable personnel and reduce turnover.
Longevity Bonuses. 8.4.1 Longevity bonuses for classified personnel will be paid at the end of the seventh, tenth, thirteenth, sixteenth, nineteenth, twenty-second, and twenty-fifth years consistent with the attached salary schedules. Longevity bonuses will be increased by the same percentage as the salary schedule is increased.
Longevity Bonuses. The intent behind longevity bonuses is to decrease employee turnover and incentive long-term employees to continue their employment with EmpRes Healthcare. Bargaining Unit Employees shall receive the following longevity bonuses, to be paid on the first payday after the employee’s anniversary date.
Longevity Bonuses. $200 each year after 10 consecutive years of service in the Clinton School Department $300 each year after 15 consecutive years of service in the Clinton School Department $400 each year after 20 consecutive years of service in the Clinton School Department $500 each year after 25 consecutive years of service in the Clinton School Department $600 each year after 30 consecutive years of service in the Clinton School Department $700 each year after 35 consecutive years of service in the Clinton School Department $1000 each year after 40 consecutive years of service in the Clinton School Department Longevity bonuses will be paid to those faculty members who have ten (10) years of service in the Clinton School System but their service was involuntarily interrupted by a reduction in force, provided that the employee returns to service within five (5) years of being involuntarily interrupted by a reduction in force.
Longevity Bonuses. Longevity bonuses for Physical Therapists, Occupational Therapists and Certified Occupational Therapy Assistants will be paid at the end of the thirteenth, sixteenth, nineteenth, twenty-second, twenty-fifth, and twenty- eight years consistent with the attached salary schedules. Longevity is based on original date of hire with the District.
Longevity Bonuses. Upon approval of the Board of Supervisors and implementation of this Memorandum of Understanding, members of this bargaining unit shall receive Longevity Pay in accordance with the following implementation schedule: 10/1/06 3% (12 levels) after completion of 19 years of service 04/1/07 4% (16 levels) after completion of 24 years of service 10/1/07 4% (16 levels) after completion of 29 years of service Longevity Pay is cumulative and shall constitute a base rate.
Longevity Bonuses. 401 Longevity bonuses for classified personnel will be paid at the end of the seventh, tenth, thirteenth, sixteenth, nineteenth, twenty-second, and twenty-fifth years at the following rates:
Longevity Bonuses. Longevity bonuses for OT,PT,COTAs will be paid at the end of the thirteenth, sixteenth, nineteenth, twenty-second, twenty-fifth, and twenty-eight years consistent with the attached salary schedules. Longevity is based on original date of hire with the District.