Longevity Clause Clause Samples
A Longevity Clause defines the duration for which a contract, agreement, or specific provision remains in effect. Typically, it sets out the start and end dates, or conditions under which the agreement continues or terminates, such as automatic renewal unless notice is given. This clause ensures that all parties are clear about the time frame of their obligations, preventing misunderstandings about when responsibilities begin and end.
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Longevity Clause. 1. All employees on their sixth (6th) anniversary, shall receive a five cent (5(cent)) per hour premium and on their tenth (10th) anniversary an additional five cents (5(cent)) per hour premium. This means that employees who presently have from six (6) to nine (9) years seniority will receiving a five cent (5(cent)) premium and those with ten (10) of more years will receive a ten cent (10(cent)) per hour premium.
Longevity Clause. A. This paragraph provides for appropriate differential salary recognition as a reward for long years of continuous and faithful service. Longevity pay shall be paid commencing January 1 of the applicable anniversary year, preceding the anniversary of hire date. The Longevity Plan provides for the following increases above the ceiling of the appropriate salary:
1. $1,000.00 after ten (10) years of continuous service
2. $2,000.00 after fifteen (15) years of continuous service
3. $5,000.00 after twenty (20) years of continuous service • The longevity based on the prior contract will stay in effect until 12/31/08. The longevity listed above in section A will take effect January 1st 2009.
Longevity Clause whenever the number of partners in the Account is reduced, due to death, then the other living partners or anyone acting on their behalf shall be entitled to continue to execute transactions in the Account, including for their own benefit, but excluding the withdrawal and/or transfer of funds to another account. The deceased's heirs and estate administrators and successors (hereinafter: the "Heirs") shall have no right to operate the Account before a probate or a succession order is issued, in accordance with any law and to the satisfaction of Meitav Dash Trade. Furthermore, during the said period, the Heirs shall have no claim, cause, action or demand against the Stock Exchange Member and the Stock Exchange Member shall not be responsible to them for matters relating to the Account management.
Longevity Clause. In recognition of continuing service to the District, teachers will receive these additional amounts to their salary as per the Matrix.