Common use of Equity Adjustment Clause in Contracts

Equity Adjustment. The equity pool for 2013-2014 will be distributed to full professors and associate professors; the specific participants in the plan will come from the group of faculty who held the rank of full professor or associate professor on September 1, 2012; they will qualify according to the following model: 1. For full professors: a. Eligibility for equity distribution for full professors is limited to those full professors whose 2013/14 base salary is lower than $100,500; b. Equity increase for full professors = ($100,500 – 2013/14 base salary) x 0.20. 2. For associate professors: a. Eligibility for equity distribution for associate professors is limited to those associate professors whose 2013/14 base salary is lower than $79,500; b. Equity increase for associate professors = ($79,500– 2013/14 base salary) x 0.20. The equity pool for 2014-2015 will be distributed to full professors and associate professors only; the specific participants in the plan will come from the group of faculty who held the rank of full professor or associate professor on September 1, 2013; they will qualify according to the following model: 1. For full professors: a. Eligibility for equity distribution for full professors is limited to those full professors whose 2014/15 base salary is lower than $100,500; b. Equity increase for full professors = ($100,500 – 2014/15 base salary) x 0.20. 2. For associate professors: a. Eligibility for equity distribution for associate professors is limited to those associate professors whose 2014/15 base salary is lower than $79,500; b. Equity increase for associate professors = ($79,500– 2014/15 base salary) x 0.20.