Common use of Payment Formula Clause in Contracts

Payment Formula. a) During the term of the Plan, a participating Member will be paid grid salary and allowances as follows: Salary and Allowances Paid During: Term Teaching Period Leave Period Three Years 66.667% 33.333% + interest* Four Years 75.0% 25.0% + interest* Five Years 80.0% 20.0% + interest* Six Years 83.333% 16.667% + interest* * Note: Interest will be earned on the portion withheld and will be paid annually.

Payment Formula. a) 19.05.1 During the term of the Planplan, a participating Member will be paid grid salary and allowances as follows: Salary and Allowances Paid During: During Term Teaching Period Leave Period Three Years 66.667years 66.7% 33.33333.3% + interest* Four Years 75.0% 25.0% + interest* Five Years 80.0% 20.0% + interest* Six Years 83.33383.3% 16.66716.7% + interest* * Note: *Interest will be earned on the portion withheld and will be paid annually.

Payment Formula. a) During the term of the Plan, a participating Member will be paid grid salary and allowances as follows: Salary and Allowances Paid During: Term Teaching Period Leave Period Three Years 66.667% 33.333% + interest* Four Years 75.0% 25.0% + interest* Five Years 80.0% 20.0% + interest* Six Years 83.333% 16.667% + interest* * Note: Interest will be earned on the portion withheld and will be paid annually.*