Longevity Payments definition

Longevity Payments means certain longevity bonuses due to certain executive employees of the Borrower under employment agreements.
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Examples of Longevity Payments in a sentence

  • This program allows eligible employees to use a portion of their Longevity Payments toward the employees share of Health Insurance premiums.

  • Employees will be granted longevity payments in addition to established salary as follows: After 10 years $800 After 15 years $1,000 After 20 years $1,200 After 25 years $1,500 Section 13.2 Longevity Payments.

  • Each year of the contract shall include Fall Wage Openers & Full Longevity Payments.

  • Longevity Payments shall be made in the first pay period in November, following the anniversary date.

  • Full-Time employees who are entitled to Longevity Payments, who enroll in this portion of the program may choose to direct a percentage ranging from 10% to 80% of their entitled Longevity Payment to be applied toward the employee share of premiums deducted from their biweekly paychecks during the calendar year.

  • Longevity Payments are made in September following the conclusion of five (5), ten (10), fifteen (15) and twenty (20) years of service.

  • Those licensed staff members who have achieved continuing contract status shall be eligible for Longevity Payments.

  • Longevity Payments will be issued in a separate check and not added to the weekly check.

  • Longevity Payments 2014-15 2015-16 2016-17 2017-18 2018-19 *Longevil ties listed in t he longevity chart are cumulative.

  • Effective April 1, 2016, the following Longevity Payments shall become effective and employees shall no longer be eligible for “Additional increment,” as set forth in Judiciary Law 37(3).

Related to Longevity Payments

  • Passthru payments means any withholdable payment and any "foreign passthru payment," which is currently not defined. The current proposed FATCA regulations (“Proposed Regulations”) state that the Internal Revenue Service and the U.S. Treasury have determined, that withholding on “foreign passthru payments” is not required, pending further guidance and analysis. The Proposed Regulations provide that such withholding will not be effective before the date that is two years after the publication of final regulations defining the term “foreign pass-thru payment”.

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

  • 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.

  • Service payments means payments to the private entity of a qualifying project pursuant to a service contract.

  • Volumetric Production Payments means production payment obligations recorded as deferred revenue in accordance with GAAP, together with all undertakings and obligations in connection therewith.