Equalized Pay Sample Clauses

Equalized Pay. A. The City shall use the following formula for the calculation of the employeesannual salary: The employee's’ base hourly rate times 2990 hours.
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Equalized Pay. Employees working a 24/48-hour schedule shall receive equalized paychecks prepared as follows: At the beginning of each payroll year the Finance Department shall prepare a salary sheet that lists each full-time employee, their applicable hourly rate, and their anticipated straight time earnings for that year which shall consist of the hourly rate multiplied by 2920 hours. Each employee's straight time earnings shall be divided by the number of bi-weekly payroll periods to compute a gross payroll amount for equalized paychecks. Employees shall receive such equalized paychecks, provided however, that at the end of each twenty-eight (28) day period described in Article 17 Overtime the City shall adjust the then applicable paycheck to reflect additional compensation for overtime worked during that twenty- eight (28) day period, or deduction for unpaid leave. See the following example: Employee earning $18.56/hour would have anticipated yearly straight time earnings of $54,195.20. Assuming twenty-six (26) pay periods, their equalized gross paycheck would be $2,084.43. Assuming they work two-hundred sixteen (216) hours during an applicable twenty-eight (28) day cycle, the second of the two paychecks issued covering that twenty-eight (28) day period would include an additional amount of $37.12 to reflect the 50% FLSA overtime adjustment for four hours of overtime worked.
Equalized Pay. Effective July 1, 2023, 10-month Unit C members working greater than twenty (20) hours per week will receive compensation for their base wages (for 183 days) in 42 equal pay checks, from September – June, paid on a weekly basis. This equalized pay will be based on the employee’s regularly scheduled number of work hours over 183 days. All members will submit regular timesheets. An employee working more or less than the scheduled number of hours during a pay period shall have their pay for that period adjusted accordingly. Employees who separate from their position before the end of the school year shall have their pay adjusted in their final paycheck according to the time worked. Employees who are entitled to be paid for additional per diem days under Article 15.2 shall be paid for those per diem days on a supplemental basis in the applicable pay period(s) for which the additional time is reported.

Related to Equalized Pay

  • Returned Payments If after receipt of any payment which is applied to the payment of all or any part of the Obligations (including a payment effected through exercise of a right of setoff), the Administrative Agent or any Lender is for any reason compelled to surrender such payment or proceeds to any Person because such payment or application of proceeds is invalidated, declared fraudulent, set aside, determined to be void or voidable as a preference, impermissible setoff, or a diversion of trust funds, or for any other reason (including pursuant to any settlement entered into by the Administrative Agent or such Lender in its discretion), then the Obligations or part thereof intended to be satisfied shall be revived and continued and this Agreement shall continue in full force as if such payment or proceeds had not been received by the Administrative Agent or such Lender. The provisions of this Section 2.21 shall be and remain effective notwithstanding any contrary action which may have been taken by the Administrative Agent or any Lender in reliance upon such payment or application of proceeds. The provisions of this Section 2.21 shall survive the termination of this Agreement.

  • Prohibited Payments The following types of payments are prohibited through the Service, and we have the right but not the obligation to monitor for, block, cancel and/or reverse such payments:

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