Minimum salary level. The employee earns at least the salary corresponding to his or her job grade, age and years of experience as specified in the salary scale referred to in Article 28 and included in Schedule 1 to this Collective Agreement.
Minimum salary level Sample Clauses
Related to Minimum salary level
Minimum Salaries 12.1 The minimum academic base salary for all Bargaining Unit members shall be as follows: Rank Effective 9/1/2019 Professor $80,250 Assoc. Professor $64,875 Asst. Professor $53,125 Instructor $45,500 Senior Librarian $80,250 Assoc. Sr. Librarian $68,875 Assoc. Librarian $62,875 Asst. Librarian $53,125 Beg. Librarian $45,500 Faculty Members earning a base salary below the effective minima shall move to the new minima and receive any across-the-board and benchmark increases under Article 10 on his or her minima. Faculty Members who will receive regional campus increases under Article 10 of this Agreement shall receive those increases before any adjustment to meet the minimum salary required by this Article.
Salary Scale The salary scale applicable to Employees shall be set out hereinafter in the Wage Schedule.
Salary Scales 1. In the settlement of the Kindergarten Teachers, Head Teachers and Senior Teachers' Collective Agreement 2000-2002 the parties committed themselves to the implementation of pay parity for kindergarten teachers. Senior teacher K3 and K4 salaries were benchmarked to the base salary (excluding the roll-based supplementary component) of a primary U2 and U3 principal respectively.
SALARY RATES Section 12.1 The following shall apply to full-time employees:
Target Bonus For purposes of this Agreement, “Target Bonus” means the assigned bonus target for the Executive under any short-term incentive plan(s) of the Company, multiplied by his or her base salary, for the relevant fiscal year. If the Executive’s base salary is changed during the relevant fiscal year, the Target Bonus shall be calculated by multiplying the Executive’s assigned bonus target by the highest base salary in effect during that fiscal year.
Annual Performance Bonus In each calendar year of the Term of Employment, Executive shall be eligible to receive an annual incentive bonus (the “Annual Bonus”) payable in cash, pursuant to the performance criteria and targets established and administered by the Board (or a committee of directors to whom such responsibility has been delegated by the Board), with a target Annual Bonus of at least 100% of his Base Salary. The Annual Bonus payable to Executive each year shall be determined and payable as soon as practicable after year-end for such year (but no later than March 15th). The Executive’s cash bonus for the stub period of 2017 will be determined in the reasonable business judgment of the Board or another committee of directors to whom such responsibility has been delegated by the Board. To be entitled to receive any Annual Bonus, except as otherwise provided in Sections 5(c) and 5(d), Executive must remain employed through the last day of the calendar year to which the Annual Bonus relates.
Salary Sacrifice Employees may sacrifice their pre-tax earnings, subject to such arrangements being made for legitimate purposes such as additional superannuation contributions. The amount of salary sacrifice being deducted from pre-tax earnings shall be deducted from gross earnings with each pay period. Any such arrangements must be requested, varied or amended in writing, providing no les than one months notice to the Company. A Salary Sacrifice Request Form is attached as a schedule to this Agreement for this purpose. The Company recommends that employees seek independent financial advice prior to entering into salary sacrifice arrangement. The amount of any salary sacrifice income requested must be a fixed sum, without variation from one pay period to the next. The company shall implement employee requests to commence salary sacrifice arrangements at four (4) times a year, on the first full pay period on or after the 1st July, 1st October, 1st January and 1st April. Where adverse tax and/or superannuation changes occur, the Company or employee may terminate these salary sacrifice arrangements. Where a decision to terminate is made, employees will be given one month’s notice in writing.
Annual Salary Review In December of each year throughout the TERM, the annual salary of the EMPLOYEE shall be reviewed by the Boards of Directors of the EMPLOYERS and shall be set, effective January l of the following year, at an amount not less than $106,500, based upon the EMPLOYEE'S individual performance and the overall profitability and financial condition of the EMPLOYERS (hereinafter referred to as the "ANNUAL REVIEW"). The results of the ANNUAL REVIEW shall be reflected in the minutes of the Boards of Directors of the EMPLOYERS.
Annual Compensation The Executive’s “Annual Compensation” for purposes of determining severance payable under this Agreement shall be deemed to mean the sum of (i) the annual rate of Base Salary as of the Date of Termination, and (ii) the cash bonus, if any, earned by the Executive for the calendar year immediately preceding the year in which the Date of Termination occurs.
Salary Schedule The scale of remuneration set out in Schedule "A" shall apply during the term of this Agreement. Any changes in salary rates or the classifications as outlined in Schedule "A" shall not be put into effect until the Union Business Representative has been consulted.
