Maximum Step Sample Clauses

Maximum Step. Employees whose salary is at the maximum step at the start of a given fiscal year are not eligible for step increases, but they remain eligible for negotiated across the board increases.
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Maximum Step. A payment in the amount of 2% of the maximum step of the teacher's salary track will be made to all certified employees who have been on the maximum step of their salary track for at least one
Sample 1
Maximum Step. A payment in the amount of 1% of the maximum step of the teacher's salary track will be made to all certified employees who have been on the maximum step of their salary track for at least one (1) year, but who are not eligible for maximum step payments based on years of service with the District as provided below. A payment in the amount of 2% of the maximum step of the teacher's salary track will be made to all certified employees who have been on the maximum step of their salary track for at least one (1) year and have ten (10) to fourteen (14) years of service with the District. A payment in the amount of 3% of the maximum step of the teacher's salary track will be made to all certified employees who have been on the maximum step of their salary track for at least one (1) year and have fifteen (15) or more years of service with the District. The percentages referenced in this contract section shall increase by .5% (to 1.5%, 2.5% and 3.5%) in the second year of the contract and shall increase by an additional .5% (to 2%, 3% and 4%) in the third year of the contract. Beginning in the 2008-2009 contract year, the maximum step benefit will be paid to a teacher who has earned it at the top step of one salary track of the salary schedule and moves from that top step to the top step of another salary track so long as the move from one track to the next does not include a step increase. Teachers with fourteen (14) years of experience or more who are receiving a maximum step payment will continue to receive said payment when they move from the top step of one salary track to the top step of another salary track. Maximum step payments do not compound from year to year.
Sample 1

Related to Maximum Step

  • Severability; Maximum Payment Amounts If any provision of this Agreement is prohibited by law or otherwise determined to be invalid or unenforceable by a court of competent jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended to apply to the broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall not affect the validity of the remaining provisions of this Agreement so long as this Agreement as so modified continues to express, without material change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity or unenforceability of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations of the parties or the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s), the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable provision(s). Notwithstanding anything to the contrary contained in this Agreement or any other Transaction Document (and without implication that the following is required or applicable), it is the intention of the parties that in no event shall amounts and value paid by the Company and/or any of its Subsidiaries (as the case may be), or payable to or received by any of the Buyers, under the Transaction Documents (including without limitation, any amounts that would be characterized as “interest” under applicable law) exceed amounts permitted under any applicable law. Accordingly, if any obligation to pay, payment made to any Buyer, or collection by any Buyer pursuant the Transaction Documents is finally judicially determined to be contrary to any such applicable law, such obligation to pay, payment or collection shall be deemed to have been made by mutual mistake of such Buyer, the Company and its Subsidiaries and such amount shall be deemed to have been adjusted with retroactive effect to the maximum amount or rate of interest, as the case may be, as would not be so prohibited by the applicable law. Such adjustment shall be effected, to the extent necessary, by reducing or refunding, at the option of such Buyer, the amount of interest or any other amounts which would constitute unlawful amounts required to be paid or actually paid to such Buyer under the Transaction Documents. For greater certainty, to the extent that any interest, charges, fees, expenses or other amounts required to be paid to or received by such Buyer under any of the Transaction Documents or related thereto are held to be within the meaning of “interest” or another applicable term to otherwise be violative of applicable law, such amounts shall be pro-rated over the period of time to which they relate.

  • Adjustments to the Purchase Price The Purchase Price shall be adjusted as of the Closing Date by:

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