RETROSPECTIVE PREMIUM Sample Clauses

RETROSPECTIVE PREMIUM. The named insureds designated in a certifi- cate shall pay to the companies retrospective premium in the event of excess losses due to bodily injury or property damage caused dur- ing their certificate period by a nuclear inci- dent arising out of or in connection with a nuclear reactor described in Item 3 of the certificate or in Item 3 of any other certificate. The amount of retrospective premium-due under each certificate shall be determined by multiplying such excess losses by the ratio of the maximum retrospective premium pay- able with respect to the nuclear incident under the certificate to the total of the max- imum retrospective premiums payable with respect to the nuclear incident under all such certificates. If any portion of the bodily injury or prop- erty damage to which this Master Policy ap- plies is caused during any portion of a certifi- cate period by a nuclear incident, the retro- spective premium the named insureds des- ignated in such certificate are obligated to pay shall be determined as if all bodily injury or property damage to which this Master Pol- icy applies caused by the nuclear incident had been caused during the certificate period of such certificate. The maximum retrospective premium that the named insureds designated in a certificate shall pay to the companies for all excess losses arising out of any one nuclear incident is the amount stated in Item 7 of their certifi- cate. In the event of two more nuclear incidents, the maximum amount of retrospective pre- mium that shall be due from and payable by the named insureds in one calendar year shall not exceed twice the amount stated in Item 7 of their certificate. Any amount in ex- cess thereof shall be paid in subsequent cal- endar years as billed by the companies. In addition, an allowance for applicable premium taxes shall be determined by the companies and paid to them by the named insureds at the time retrospective premiums are due and payable. After a nuclear incident resulting in excess losses, the companies shall mail to the first named insured designated in Item 1 of a cer- tificate written notice of the retrospective premium and allowance for premium taxes then due under such certificate. Such notice shall also constitute notice to all other named insureds designated in such certificate. The named insureds shall pay directly to the Nuclear Energy Liability Insurance Associa- tion the retrospective premium and allow- ance for premium taxes stated in the notice. The n...
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Related to RETROSPECTIVE PREMIUM

  • Shift Premium Effective July 1, 2020, an employee shall be paid a shift premium of ninety-five cents (95c/ ) per hour for each hour worked between 1500 hours and 0700 hours provided that such hours exceed two (2) hours if worked in conjunction with the day shift.

  • Overtime Premium (a) Employees shall be entitled to payment of time and one-half (1-1/2X) the employee's basic straight time hourly rate for all authorized overtime work in excess of seven and one-half (7-1/2) hours in a tour of duty or in excess of the average full-time hours of work over the period scheduled by the Hospital. Such period for this purpose shall not exceed two (2) weeks. It is understood that no overtime will be paid where the time worked was a result of an exchange at shifts between employees. Overtime shall be distributed as equally as practical among those employees normally performing the type of work to be done on overtime. Notice of overtime work shall be given as soon as practically possible. It is understood and acknowledged that the Hospital has the right to require employees to perform reasonably authorized overtime work. Call-back shall not be considered as hours worked for purposes of this Article. Overtime premium will not be duplicated nor pyramided nor shall other premiums be duplicated nor pyramided nor shall the same hours worked be counted as part of the normal work week and also as hours for which the overtime premium is paid. Where an employee is required to work additional overtime contiguous to an overtime shift within a twenty-four (24) hour period, the employee will be compensated at the rate of double time his or her straight time hourly rate for all additional contiguous overtime hours worked.

  • Night Shift Premium Any employee who is required to work on any day when the majority of their working hours fall between 10.00 p.m. and 5.00 a.m., or who starts their shift prior to 5.00 a.m., shall be paid a premium, in addition to their regular, hourly rate, of one dollar and twenty-five cents ($1.25) per hour for all hours worked on the shift. Shift premium pay shall not be added to an employee’s hourly rate for the purpose of computing overtime. This clause shall not result in duplication of premiums.

  • Overtime and Premium Pay Section 1. Overtime at the rate of one and one-half (1 1/2) times an employee's regular straight time hourly rate of pay shall be paid for all work over forty (40) hours in one (1) week.

  • Night Premium For all time worked by employees, after 7 p.m. and before 7 a.m., by employees hired on or before August 5, 2005, a premium of twenty-five cents (25¢) per hour shall be paid.

  • Overtime Premium Pay Time and one-half (1 1/2) the employee's straight time rate of pay shall be paid for all hours actually worked in excess of forty (40) hours in any one workweek.

  • Overtime Premiums All time worked before or after the regularly established working day shall be considered overtime and be paid for at one hundred and fifty (150%) percent of the employee's pro- rated hourly rate for the first two (2) hours and double the employee's regular hourly rate for each hour worked thereafter.

  • Lead Hand Premium The Lead Hand premium shall be one dollar and fifty cents ($1.50) per hour for employees so appointed and the Company retains sole discretion to appoint, maintain or delete the use of lead hands.

  • Premiums The premiums for insurance policies required pursuant to this Article must be paid as a common expense by the Owners' Association.

  • Shift Premiums (a) Evening/Night Premium Employees working an evening or night shift where the major portion of hours worked fall within the hours of 1500 and 0800 hours, shall be paid at their regular hourly rate plus a shift premium of $2.10 ($2.75 effective July 1, 2015) per hour for all hours worked.

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