Longevity Payment definition

Longevity Payment means an amount equal to fifteen thousand dollars ($15,000) for each anniversary of the Executive’s commencement of employment with the Company on January 31, 2005 up to a maximum of 100% of Executive’s Base Compensation as in effect immediately before any notice of termination or as in effect immediately before any material reduction in the Executive’s Base Compensation.
Longevity Payment. Each bargaining unit employee will receive a longevity payment the first payroll in September as provided below if the employee has worked at least five (5) years as of 7/01/17 and provided that the employee reports for work on his/her first scheduled work day of each school year. 5 through 9 years: $ 100.00 10 through 14 years: $ 250.00 15 years through 19 years: $ 750.00

Examples of Longevity Payment in a sentence

  • The Executive may terminate this Agreement (and Executive’s employment hereunder) at any time and for any reason and shall be entitled to the Longevity Payment upon any such termination.

  • In the event of any such termination, Executive shall be entitled to (i) his Base Compensation through the termination date, (ii) the Post-Employment Annual Bonus, if any (iii) all accrued benefits to the date of termination (and to the extent required by law), (iv) the Severance Payment, (v) the Longevity Payment, (vi) the costs of continuing health and life insurance coverage for six (6) months following termination of employment and (vii) Accelerated Vesting upon termination of employment.

Related to Longevity Payment

  • Capitation Payment means a payment the STATE makes periodically to the MCO for each Enrollee covered under the Contract for the provision of services as defined in Article 6 regardless of whether the Enrollee receives these services during the period covered by the payment.

  • Delta Payment means as it is described in this Agreement.

  • Capacity Payment means a payment to a capacity provider under these Regulations for its commitment to meet a capacity obligation during a delivery year;

  • Production Payment means a production payment obligation (whether volumetric or dollar denominated) of the Borrower or any of its Restricted Subsidiaries which are payable from a specified share of proceeds received from production from specified Oil and Gas Properties, together with all undertakings and obligations in connection therewith.

  • Interim Payment has the meaning specified in Section 10.1.

  • Completion Payment means the payment for the 20% of the Charges for each Apprenticeship that under the ESFA Rules is only paid once an Apprentice takes their end point assessment, including as the case may be Apprenticeships funded by Transferred Levy Funds;

  • Advance Payment means a payment that a federal awarding agency or passthrough entity makes by any appropriate payment mechanism, including a predetermined payment schedule, before the non-federal entity disburses the funds for program purposes.

  • Royalty Payment has the meaning set forth in Section 6.1.

  • PAGA Payment means the penalties pursuant to PAGA that the Parties have agreed is a

  • AHYDO Catch-Up Payment means any payment, including payments made on subordinated debt obligations, in each case to the extent such payment is necessary to avoid the application of Section 163(e)(5) of the Code.

  • Compensation Payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an insurer to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the insurer’s contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the insurer accepts liability for having caused the loss concerned, but excludes any –

  • Payment Cap For each Mortgage Loan, the percentage limit set forth in the related Mortgage Note concerning the maximum permitted increase in a monthly payment.

  • Indemnity Payment shall have the meaning set forth in Section 4.4(a).

  • Annuity Payments The series of payments made to the Owner or any named payee after the Annuity Date under the Annuity Option selected. ANNUITY PERIOD: The period of time beginning with the Annuity Date during which Annuity Payments are made.

  • Minimum Monthly Payment for any Mortgage Loan and any month means the minimum amount required to be paid by the related mortgagor in that month.

  • Lease Payment means any form of payment, including a land lease, by a public entity to the private entity for the use of a qualifying project.

  • Down payment means all partial payments, whether made in cash or otherwise, received by or for the benefit of the seller before or substantially contemporaneous with either the execution of the installment sale contract or the delivery of the motor vehicle sold under that contract, whichever occurs later.

  • Annual Payment The total amount payable to the Settlement Fund Administrator by the Settling Distributors on the Payment Date each year, as calculated by the Settlement Fund Administrator pursuant to Section IV.B.1.e. For the avoidance of doubt, this term does not include the Additional Restitution Amount or amounts paid pursuant to Section X.

  • Availability Payment means the payment to Owner described in Section 8.1 for Condition 1 and 8.2 for Condition 2.

  • LWDA PAGA Payment means the 75% of the PAGA Penalties paid to the LWDA under Labor Code section 2699, subd. (i).

  • Reimbursement Payment shall have the meaning given to that term in Subparagraph 2.02(c).

  • Service Payment has the meaning given to it in clause 9.1;

  • Contingent Compensation Payment means any payment (or benefit) in the nature of compensation that is made or made available (under this Agreement or otherwise) to a “disqualified individual” (as defined in Section 280G(c) of the Code) and that is contingent (within the meaning of Section 280G(b)(2)(A)(i) of the Code) on a Change in Ownership or Control of the Company.

  • Production Payments means, collectively, Dollar-Denominated Production Payments and Volumetric Production Payments.

  • Minimum Payment means the amount of minimum payment as stated in the Fee Schedule;