Supplemental Premium Clause Samples
A Supplemental Premium clause establishes the obligation for an additional insurance premium beyond the initial amount specified in the policy. This clause typically applies when certain conditions arise during the policy period, such as increased risk exposure, changes in coverage, or adjustments in insured values. For example, if the insured acquires new assets or expands operations, the insurer may require a supplemental premium to maintain adequate coverage. The core function of this clause is to ensure that the insurance policy remains appropriately priced and responsive to changes, thereby protecting both the insurer and the insured from unforeseen risks or underinsurance.
Supplemental Premium. From time to time in an amount certified by the Reinsurer, substantially in the form attached hereto as Exhibit F (“Supplemental Premium Certificate”), to be an amount of expenses incurred or expected to be incurred by the Reinsurer as a result of third-party services provided to the Reinsurer (“Supplemental Premium”), provided, that the Supplemental Premiums paid hereunder shall be subject to a maximum in any calendar year of $[***] in the aggregate under this Reinsurance Agreement (which shall not include the Initial Issuance Premium under this Reinsurance Agreement); provided, further, that from time to time, the Reinsurer may provide a Supplemental Premium Certificate referencing estimated amounts of Supplemental Premiums. Any estimated amounts will be subject to true-up, with any required payments being made by the owing party, within ninety (90) calendar days after the final distributions have been made to all holders of the Notes in respect thereof.
Supplemental Premium. The salary premium for supplemental nurses will be based on a stratified scale determined by the availability of the supplemental nurse. Supplemental nurses who make themselves available a minimum of one day per week each schedule and who make themselves available at least 25% evening shift and night shift and every third weekend will receive an 18% premium. Supplemental nurses who make themselves available a minimum of four shifts per schedule, including one full weekend, will receive a 16% supplemental premium. Effective August 1, 2005, supplemental nurses shall provide the following minimum availability: 12 hour nurses - 48 hours/period 12 hour nurses - 72 hours/period Supplemental nurses may not change their stratified scale status more than two (2) times annually.
Supplemental Premium. The Administrative Agent and Consenting Lenders party hereto acknowledge and agree that the Amendment No. 2 Effective Date is December 15, 2025.
Supplemental Premium. The Administrative Agent and Consenting Lenders party hereto acknowledge and agree that the Amendment No. 3 Effective Date is the date set forth in the first paragraph of this Amendment.
Supplemental Premium. The salary premium for supplemental nurses will be based on a stratified scale determined by the availability of the supplemental nurse. Supplemental nurses who make themselves available a minimum of one day per week each schedule and who make themselves available at least 25% evening shift and night shift and every third weekend will receive an 18% premium. Supplemental nurses who make themselves available a minimum of four shifts per schedule, including one full weekend, will receive a 16% supplemental premium.
13.4.1 Process for supplemental nurses to change stratified scale from 16% to 18% or 18% to 16%.
a. During the calendar months of February and August a supplemental nurse who has been employed by HFH for a period of 6 months or greater can request a change in supplemental stratified scale without management approval by contacting their core leader.
b. Upon request to change stratified scale, the requesting supplemental shall be given a new supplemental agreement which reflects the appropriate supplemental stratified scale selection.
c. The supplemental nurse shall then provide their availability as governed by 13.4 during the next scheduling period.
13.4.2 Exceptional circumstances request- definition and process of request. A supplemental may request a change in stratified scale outside of the designated months of February and August after being employed for at least 6 months for an exceptional change in circumstance.
a. A change in childcare needs, military deployment of spouse, educational goals / commitments, reduction in work commitment for either physical or mental health, volunteer commitments or any other change in life events or circumstances for which the supplemental is seeking a change outside of the months of February or August.
b. The supplemental seeking a change in stratified scale must make their request by contacting their core leader to request a change in stratified scale and to present exceptional change in circumstances.
c. Upon request of the supplemental, the core leader shall review the exceptional circumstances for the request and shall notify the supplemental of approval or denial of the request within 10 days.
d. The supplemental seeking change in stratified scale may request union representation at any time during the request and / or reviewal process.
e. In the event that the affected supplemental’s request is unreasonably denied the affected supplemental may pursue a grievance in accordance with Article 22.