Common use of Payment Formula and Leave of Absence Clause in Contracts

Payment Formula and Leave of Absence. (a) During the term of the plan a participating employee will be paid grid salary and allowances as follows: Salary and Allowances Paid During Term Working Period Leave Period Four Years 75.0% 25.0% + interest Five Years 80.0% 20.0% + interest* Six Years 83.3% 16.7% + interest* *Note: Interest will be earned on the portion withheld and will be paid annually.

Payment Formula and Leave of Absence. (a) During the term of the plan a participating employee will be paid grid salary and allowances as follows: Salary Xxxxxx and Allowances Paid During Term Working Period Leave Period Four Years 75.0% 25.0% + interest Five Years 80.0% 20.0% + interest* Six Years 83.3% 16.7% + interest* *Note: Interest will be earned on the portion withheld and will be paid annually.

Payment Formula and Leave of Absence. (a) During the term of the plan plan, a participating employee will be paid grid salary and allowances as follows: Salary Xxxxxx and Allowances Paid During Term Working Work Period Leave Period Three (3) Years 66.667 % 33.333 % + interest Four (4) Years 75.075.0 % 25.025.0 % + interest Five (5) Years 80.080.0 % 20.020.0 % + interest* interest Six (6) Years 83.3% 16.7% + interest* *interest Note: Interest will be earned on the portion withheld and will be paid annually.