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Secretary Treasurer's Message - 11/08/16
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Secretary Treasurer's Message - 11/08/16

 

Wet-Lease Penalty Payment

Your MEC recently approved a per capita distribution plan for 2016 wet-lease penalties incurred by the company so far this year. Penalty payments were broken into three blocks of wet-leasing activity resulting in the following per pilot payment to be paid on these dates:

Wet-Leasing Activity

Distribution Amount

Pay Date

January 4-February 28, 2016

$377.21

November 15, 2016

February 29-May 29, 2016

$725.90

November 30, 2016

May 30-June 26, 2016

$382.51

December 15, 2016


In order to be eligible for each penalty payment, you must have been an active pilot during any portion of the dates listed above. For example, if you were an active pilot from January 4th, 2016 through March 15, 2016 and then retired on March 16, 2016, you would be eligible for the first two payments but not the third.

An active pilot will be defined as a pilot who was employed by the company during any portion of a relevant time period as described above. Pilots on military leave during all or part of a relevant time period (as described above) will be considered on active status for that relevant period. Pilots on a leave of absence other than military leave status for an entire relevant period will be considered on inactive for that period. Pilots on disciplinary suspension for an entire time period shall be considered on inactive status for that period.    

Payments will be listed as a recruiting bonus on your paystubs and the amounts shown above are gross pay before any deductions.


First Officer Rich Zins
FedEx MEC Secretary Treasurer

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