Long Term Employment definition
Examples of Long Term Employment in a sentence
Any employee who does not benefit from Long Term Employment Security or Limited Duration Employment Security and who is affected by Article 15.02, who has completed his probationary period, but does not have two years’ continuous service with the University (and thus is not covered by Article 15.05), will be entitled to receive a lump sum of three (3) months of salary for service at the University of less than one year.
Any employee who does not benefit from Long Term Employment Security pursuant to Article 15.01 (a) and who is affected by Article 15.02 will benefit from Limited Duration Employment Security, provided that at the date of the abolition of the position, the employee has two years’ continuous service with the University.
Employees who do not benefit from Long Term Employment Security may benefit from Limited Duration Employment Security as more fully set out in Article 15.05 hereof.
Accordingly, a Long Term Employment Incentive Payment (LTEIP) scheme has been developed that will reward permanent Employees who are continuously employed by ▇▇▇▇▇▇▇▇ Contracting for a period of time in excess of 2 years plus an accrual period.