Merit Raise Computation Sample Clauses

Merit Raise Computation. An overall score is calculated, rounded to the nearest 10th, based on the relative weights assigned to teaching, scholarship, and service as specified in the department bylaws. In this calculation, the following values are assigned in each area: "unsatisfactory" = 1, "satisfactory" = 2, "meritorious" = 3, "outstanding" = 4, and "extraordinary" = 5. An aggregate overall score of less than two (2) points shall be considered unsatisfactory and shall disqualify the bargaining unit faculty member from participation in the merit pool. For example, if teaching is awarded forty percent (40%), research is awarded forty percent (40%), and service is awarded twenty percent (20%); the bargaining unit faculty member receives individual scores of two (2) for teaching, two (2) for research, and one (1) for service. The weighted scores would be 0.8 for teaching, 0.8 for research and 0.2 for service for an aggregate overall score of 1.8 which would disqualify the bargaining unit faculty member from participation in the merit pool. The merit raise mi for an individual bargaining unit faculty member will be determined as follows: where M is the total merit pool for the Member’s department, r is the percentage merit increase specified by the applicable contract section.
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Merit Raise Computation. An overall score is calculated, rounded to the nearest 10th, based on the relative weights assigned to teaching, scholarship, and service as specified in the department bylaws. In this calculation, the following values are assigned in each area: "unsatisfactory" = 1, "satisfactory" = 2, "meritorious" = 3, "outstanding" = 4, and "extraordinary" = 5. An aggregate overall score of less than 2 points shall be considered unsatisfactory and shall disqualify the bargaining unit faculty member from participation in the merit pool. For example, if teaching is awarded 40%, research is awarded 40%, and service is awarded 20%; the bargaining unit faculty member receives individual scores of 2 for teaching, 2 for research, and 1 for service. The weighted scores would be .8 for teaching, .8 for research and .2 for service for an aggregate overall score of 1.8 which would disqualify the bargaining unit faculty member from participation in the merit pool.

Related to Merit Raise Computation

  • Time Computation Saturday, Sunday and holidays recognized by this Agreement shall not be counted under the time procedures established in this Agreement.

  • Balance Computation Method For all dividend-bearing Accounts, dividends are calculated by the average daily balance method which applies a daily periodic rate to the average daily balance for the average daily balance calculation period. The average daily balance is determined by adding the full amount of the principal in Your Account for each day of the period and dividing that figure by the number of days in the period. Accrual on Noncash Deposits. For dividend-bearing Accounts, dividends will begin to accrue on the business day that You deposit noncash items (e.g. checks) into Your Account.

  • Overtime Computation Computation of overtime will be rounded upward to the nearest one-tenth (1/10th) of an hour.

  • How We Will Calculate Your Balance We use a method called “average daily balance (including new purchases).” See your account agreement for more details.

  • Interest Eligibility and Computation If NYSERDA fails to make Prompt Payment, NYSERDA shall pay interest to the Contractor on the Payment when such interest computed as provided herein is equal to or more than ten dollars ($10.00). Interest shall be computed and accrue at the daily rate in effect on the Date of Payment, as set by the New York State Tax Commission for corporate taxes pursuant to Section 1096(e)(1) of the Tax Law. Interest on such a Payment shall be computed for the period beginning on the day after the Payment Due Date and ending on the Date of Payment.

  • Computation In the event the Prime Rate is changed from time to time hereafter, the applicable rate of interest hereunder shall be increased or decreased, effective as of the day the Prime Rate is changed, by an amount equal to such change in the Prime Rate. All interest chargeable under the Loan Documents shall be computed on the basis of a three hundred sixty (360) day year for the actual number of days elapsed.

  • Salary Computation The regular salary for each employee shall be based on the actual number of days or hours worked in the pay period, including authorized absences with pay, multiplied by the employee's daily or hourly rate. Such payments shall not exceed the biweekly rate as determined by the employee's range and step.

  • First Year Wage Adjustment Effective July 1, 2017, all salary ranges and rates shall be increased by two percent (2.0%), rounded to the nearest cent. The compensation grids for classes covered by this Agreement are contained in Appendix E-1. Employees shall convert to the new compensation grid as provided in Section 2.

  • Second Year Wage Adjustment Effective July 1, 2020, all salary ranges and rates shall be increased by two and one-half percent (2.50%), rounded to the nearest cent. Salary increases provided by this Section shall be given to all employees including those employees whose rates of pay exceed the maximum rate for their class. The compensation grids for classes covered by this Agreement are contained in Appendix E-2. Conversion to the new compensation grid shall not change an employee’s eligibility for step progression increases.

  • COMPUTATION OF BACK WAGES No claim for back wages shall exceed the amount of wages the employee would otherwise have earned at the employee's regular rate less:

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