SPREAD PREMIUM Clause Samples
The Spread Premium clause defines the additional amount paid by one party to another, typically in financial or insurance contracts, to compensate for the difference between two interest rates or risk levels. In practice, this premium is calculated as a percentage or fixed amount above a reference rate, and is often paid upfront or periodically over the contract term. Its core function is to allocate the cost of taking on additional risk or to ensure fair compensation for the party assuming greater exposure, thereby balancing the interests of both parties in the agreement.
SPREAD PREMIUM. Spread premium will be paid to all Bus Operators, as contained in the premium schedule, for all work made up of several pieces. This shall not include “special” crews. Time spent on report shall not be included in the calculation of spread premium for Spare Operators. Spread time for time worked on crews (as shown on assignment sheets) will be paid for according to the following schedule: Effective Pay Period #15, 2008 Spread Premiums will be as follows: Bus Operators will be paid two (2) hours pay per year to cover communication with Transit Management/Administration outside normal work hours.
SPREAD PREMIUM. See Appendix
SPREAD PREMIUM. ADMINISTRATION TRANSPORTATION CLERKS- Hours of Work The provisions of this section are without prejudice any portion of it may be change at any time at the discretion of the Employer. Hours of work may be flexed n mutual agreement between the employee, Employer and Union. All shifts will not be more than hours (exclusive of an unpaid lunch of one hour of duration). The normal day shift hours commence before a.m. or finish after Shifts for Customer Service (Transportation) Clerks will include as to
SPREAD PREMIUM. For all work performed between the to hour, the premium shall be paid at the rate of per hour above the base rate. For all work performed the and hour, the premium shall be paid at the rate of per hour above the base rate. For all work performed over the hour, the premium shall be paid at the rate of per hour above the base rate. Thirty cents per hour extra; Night Premium is effective for any regular fun beginning after p.m.; no pyramiding on Sundays.
SPREAD PREMIUM. All scheduled platform work or time on duty beyond eleven (11) hours spread shall be paid for at time and one-half up to twelve (12) hours. In addition, all scheduled platform work or time on duty beyond twelve (12) hours spread shall be paid for at double time. Computation of spread premium pay to be in addition to all other straight time and overtime payments required by other provisions of this Agreement. The regular pull out allowance shall be considered as part of this spread. All owl runs shall be straight runs and shall pull out and turn in and shall work no later than 8:00 A.M. When any run has a split starting after 8:00 P.M., all of the time in the split shall be paid at the hourly rate applicable to the run.
SPREAD PREMIUM. All scheduled platform work or time on duty beyond eleven (11) hours 30 minutes spread shall be paid for at time and one-half up to twelve (12) hours. In addition, all scheduled platform work or time on duty beyond twelve (12) hours spread shall be paid for at double time. Computation of spread premium pay will be in addition to all other straight time and overtime payments required by other provisions of this Agreement. The regular pullout allowance shall be considered as part of this spread. When any run has a split starting after 8:00 P.M., all of the time in the split shall be paid at the hourly rate applicable to the run. The Agency shall arrange its schedules and its work so that: Each regular operator will be off duty two (2) consecutive days in every seven (7) days without pay. Except for bus tripper runs provided for below, the minimum time allowance for all scheduled runs shall be eight (8) hours inclusive of the allowance for pull out.
SPREAD PREMIUM. Spread premium of half the base rate will be allowed in addition to any overtime premium on scheduled swing runs. If more than ten (10) hours, including report and turn-in time, are scheduled to elapse in such a run from the first required report to the time of completion, the Operator working and completing it will receive the premium for the scheduled period beyond ten (10) hours. An Operator will not be entitled to spread premium for work beyond their scheduled swing run except as provided in Article 20 (Overtime).