Common use of Longevity Program Clause in Contracts

Longevity Program. Any employee hired after January 1, 1991, shall not be eligible for the longevity program. Each employee hired prior to January 1, 1991 who completes five (5) years of continuous uninterrupted service shall become eligible for longevity payment computed as follows: a. For each five (5) year period of service as outlined above, each employee of the Township shall receive the following in addition to the current annual salary: After 5 continuous years $ 500.00 After 10 continuous years 1,000.00 After 15 continuous years 1,500.00 After 20 continuous years 2,000.00 After 25 continuous years 2,500.00 b. The effective date as to eligibility for longevity shall be the anniversary date of the individual’s employment by the Township of ▇▇▇▇▇ and the amount shall be as set forth above.

Longevity Program. NOTE: Any employee hired after January 1, 1991, shall not be eligible for the longevity program. Each employee hired prior to January 1, 1991 who completes five (5) years of continuous uninterrupted service shall become eligible for longevity payment computed as follows: a. For each five (5) year period of service as outlined above, each employee of the Township shall receive the following in addition to the current annual salary: After 5 continuous years $ 500.00 After 10 continuous years 1,000.00 After 15 continuous years 1,500.00 After 20 continuous years 2,000.00 After 25 continuous years 2,500.00 b. The effective date as to eligibility for longevity shall be the anniversary date of the individual’s employment by the Township of ▇▇▇▇▇ and the amount shall be as set forth above.