Common use of Payment Basis Clause in Contracts

Payment Basis. Payment shall be made and distributed on the basis of the following schedule: Pay Days Portion of Annual Salary September 4, 2008 1/26 18 1/26 October 2 1/26 16 1/26 30 1/26 November 13 1/26 27 1/26 December 11 2/26 24* 1/26 January 8, 2009 1/26 22 1/26 February 5 1/26 19 1/26 March 5 1/26 19 1/26 April 2 1/26 16 1/26 30 1/26 May 14 1/26 28 1/26 June 11 1/26 25 4/26

Payment Basis. Payment shall be made and distributed on the basis of the following schedule: Pay Days Portion of Annual Salary September 404, 2008 1/26 18 1/26 October 2 02 1/26 16 1/26 30 1/26 November 13 1/26 27 1/26 December 11 2/26 24* 1/26 January 808, 2009 1/26 22 1/26 February 5 05 1/26 19 1/26 March 5 05 1/26 19 1/26 April 2 02 1/26 16 1/26 30 1/26 May 14 1/26 28 1/26 June 11 1/26 25 4/264/26 Effective September 1, 2009, Employees shall be paid bi-weekly by direct deposit, on Thursdays based on 1/26 of the annual salary.