Examples of Service Bonus in a sentence
It is understood that all permanent full-time and permanent part-time employees who attained the required amount of years of service prior to year end December 31st who retire or voluntarily terminate their employment with the Employer during the year will receive on a one time basis only, the Long Service Bonus in the amount as outlined above, on a prorated basis, minus statutory deductions.
The Continuous Service Bonus will be paid on the second pay period of November.
Members may elect to have their Termination of Service Bonus paid as a lump sum, deposited into an annuity, or deposited into a Tax Deferred Plan (TDP).
The harmonisation of the Long Service Bonus as approved by Council on the 7 June 2016, when the 2016/17 budget was approved, is one of the main causes for the employee related costs to escalate to greater than 30%.
Effective April 1, 2013, the Employer agrees to pay a Long Service Bonus of six hundred and twenty-five dollars ($625) (prorated for permanent part-time employees) as a salary bonus for workers who have attained ten (10) years or more of service prior to year- end December 31st.