Lump Sum Payment in Lieu of Retroactivity Sample Clauses

Lump Sum Payment in Lieu of Retroactivity. Employees who are in the bargaining unit on the date of signing of the collective agreement will receive a payment in the form of a lump sum, as compensation for their regularly scheduled hours of work for the period of time from March 1, 1997 to June 23, 1997. This payment is comprehensive and is in lieu of the retroactive application of the revised rates of pay. The payment will be calculated by multiplying the regularly scheduled hours of work during the above period, by the difference between the revised rates of pay and the expired rates of pay. An employee who is appointed or deployed to a position in the bargaining unit on or after March 1, 1997 will receive a payment as described in the paragraph above. However, such payment shall be prorated over the period of time that the employee is in the bargaining unit. MEMORANDUM OF AGREEMENT BETWEEN THE TREASURY BOARD AND THE PROFESSIONAL INSTITUTE OF THE PUBLIC SERVICE OF CANADA FOR THE LAW GROUP The Employer and the Professional Institute of the Public Service of Canada agree that for those employees to whom the provisions of clause .08 of Article 13 (Hours of Work) apply, the provisions of the collective agreement which specifies days shall be converted to hours. Where the collective agreement refers to a "day", it shall be converted to seven and one-half (7 1/2) hours. For greater certainty, the following provisions shall be administered as provided herein:
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Related to Lump Sum Payment in Lieu of Retroactivity

  • Lump Sum Payment Upon award of the contract for this improvement, the LA will pay to the STATE, in lump sum, an amount equal to 80% of the LA’s estimated obligation incurred under this Agreement, and will pay to the STATE the remainder of the LA’s obligation (including any nonparticipating costs) in a lump sum, upon completion of the project based upon final costs. Method B - Monthly Payments. Upon award of the contract for this improvement, the LA will pay to the STATE, a specified amount each month for an estimated period of months, or until 80% of the LA’s estimated obligation under the provisions of the Agreement has been paid, and will pay to the STATE the remainder of the LA’s obligation (including any nonparticipating costs) in a lump sum, upon completion of the project based upon final costs.

  • Lump Sum Payments If, during the Employment Period, the Company terminates the Executive's employment other than for Cause, or the Executive terminates employment for Good Reason, the Company shall pay to the Executive the following amounts:

  • Payment in Lieu of Benefits a) All employees not transferred to the Trust who received pay in lieu of benefits under a collective agreement in effect as of August 31, 2014, shall continue to receive the same benefit.

  • VESTED RETIREMENT GRATUITY VOLUNTARY EARLY PAYOUT a) An Employee eligible for a Sick Leave Credit retirement gratuity as per Appendix A shall have the option of receiving a payout of his/her gratuity on August 31, 2016, or on the employee’s normal retirement date.

  • Minimum Payment Due Your Minimum Payment Due is listed on your Statement and equals the lesser of: • the amount of your New Balance, or • the greater of: • $30, or • 3% of the amount you owe, or • the sum of Finance Charges accrued since the last Billing Cycle (including Interest Charges and Transaction Fees), plus any Penalty Fees, Annual Fees (if applicable), and one-time fees that have been posted to your Account, plus 1% of the amount you owe. Making only the Minimum Payment Due will increase the amount of interest you pay and the time it takes to repay your balance.

  • TEACHER TEACHING ON CALL PAY AND BENEFITS 1. The employer will ensure compliance with vacation provisions under the Employment Standards Act in respect of the payment of vacation pay.

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