Seniority allowance Sample Clauses

Seniority allowance. For the year 2014, a seniority allowance will be payable under the following conditions: Years of service Amount of the allowance (ind. 100) After 1 year 5 EUR After 3 years 10 EUR After 6 years 20 EUR With effect from the year 2015, the amount of the seniority allowance shall be as follows after the years of service indicated below: Years of service Amount of the allowance (ind. 100) After 3 year 5 EUR After 5 years 10 EUR After 8 years 20 EUR Payment of the allowance will be made with effect from 1 January of the year following that in which the employee reached the specified seniority. The employee who has already benefited from one or all of the amounts of the seniority allowance prior to 1 January 2015 shall not be entitled to claim payment of the same amounts again. The amounts acquired under the heading of the seniority allowance prior to 1 January 2015 shall not be reduced. Employees who are in receipt of a household allowance on 31 December 2007 will continue to benefit from a seniority allowance which shall not be less than the amount paid by way of the former household allowance. The allowance can evolve only within the framework of the limits defined above. It should be noted that the years of service referred to are those spent with the same employer. When the working hours stipulated in the contract of employment are less than 40 hours a week, the seniority allowance is payable on a pro-rata basis to the number of hours normally worked.
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Seniority allowance. 1. An employee is entitled to a seniority allowance of 5% of the basic wage after 3, 5, 8, 11, 14 and 17 years of uninterrupted employment with the same shipowner.
Seniority allowance. An employee is entitled to a seniority allowance of 5% of the basic wage after 3, 5, 8, 11, 14 and 17 years of uninterrupted employment with the same shipowner. The first four seniority allowances are paid irrespective of the shipwoner to an employee who has been employed for at least 3, 5, 8 or correspondingly 11 years. When calculating the later seniority allowances linked to the shipowner, only a maximum of 11 years of employment is taken into account irrespective of the shipowner. Catering staff employees receive the first four seniority allowances irrespective of the shipowner provided that they have been employed in a vessel catering department for at least 3, 5, 8 or respectively 11 years. When calculating the later seniority allowances that are linked to the shipowner, only a maximum of 11 years of employment in a vessel catering department is taken into account irrespective of the shipowner. When calculating the time entitling an employee to a seniority allowance, shipowners with shared management are considered one shipowner. If an employee is re-­‐employed by a shipowner, his or her previous uninterrupted period of employment with the said shipowner shall be taken into account in the seniority allowance calculations. For the above-­‐mentioned seniority allowances paid irrespective of the employer, an employee shall present the relevant certificates in order to have those periods taken into account.
Seniority allowance. Seniority Allowance shall be in accordance with the salary scale as agreed in Appendix II, Schedules A to D. Accordingly, Effective April 1, 2006 and April 1, 2007, the rates for Seniority Allowance are as given in Appendix III, Schedule
Seniority allowance. An officer shall be eligible to a seniority allowance as shown in Appendix I of this Agreement on completion of 12 months’ sea service with the Company or 12 months from the date of promotion, whichever is later.

Related to Seniority allowance

  • Excess Contributions An excess contribution is any amount that is contributed to your IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.

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