Longevity Retention Sample Clauses
The Longevity Retention clause is designed to incentivize employees or contractors to remain with an organization for a specified period. Typically, this clause outlines benefits such as bonuses, stock vesting, or other rewards that are contingent upon the individual maintaining continuous service through a defined milestone or date. By structuring compensation or benefits to accrue over time, the clause helps organizations retain key personnel and reduce turnover, thereby ensuring stability and continuity within the workforce.
Longevity Retention. Employees on leaves of absence, including disciplinary layoffs, shall retain all time earned toward the payment of longevity payments provided for by this Agreement but shall not accrue any additional time or receive such longevity payments during such absences.
Longevity Retention. 1. Effective the first day of the pay period following the completion of the 10th year of service, two and one-half (2.5%) percent added to base salary. Employees with continuous full time service to San Benito County are eligible for this differential.
2. Effective the first day of the pay period following the completion of the 15th year of service, an additional 2.5% will be added to base salary for a total of five (5%) percent added to base salary. Employees with continuous full time service to San Benito County are eligible for this differential.
3. Effective the first day of the pay period following the completion of the 20th year of service, an additional 2.5% will be added to base salary for a total of seven and one-half (7.5%) percent added to base salary. Employees with continuous full time service to San Benito County are eligible for this differential
Longevity Retention. Employees on leaves of absences or layoff, including disciplinary layoffs greater than thirty