Common use of True-Up Bonus Clause in Contracts

True-Up Bonus. Within two (2) pay periods after ratification, employees in Steps 20 – 29 receiving less than a four percent (4%) wage increase shall receive a true-up bonus equivalent to the difference between the percentage increase associated with their step and four percent (4%). For example, a .9 FTE nurse at Step 20 who receives a two and one-half percent (2.50%) increase shall receive a bonus equal to one thousand four hundred fifty-nine dollars and 84 cents ($1,459.84) based on FTE and the difference between the increase percentage and 4%.

True-Up Bonus. Within two (2) pay periods after ratification, employees in Steps 20 – 29 receiving less than a four percent (4%) wage increase shall receive a true-up bonus equivalent to the difference between the percentage increase associated with their step and four percent (4%). For example, a .9 FTE nurse at Step 20 who receives a two and one-half percent (2.50%) increase shall receive a bonus equal to one thousand four hundred fifty-nine four dollars and 84 cents ($1,459.841,404.00) based on FTE and (the difference between the increase percentage 2.50% and 4%), based on FTE.