Common use of Plan and Payment Formula Clause in Contracts

Plan and Payment Formula. (a) During each of the first three (3) years of a four (4) year Plan, the teacher shall receive seventy-five percent (75%) of the teacher’s annual salary. The remaining twenty-five percent (25%) of salary shall be held in trust, by the Board, for the teacher in a mutually agreed upon type of account. The twenty- five percent (25%) of salary for each of the three

Plan and Payment Formula. (a) Three Over Four During each of the first three (3) years (or semesters) of a four (4) year the Plan, the teacher teachers shall receive seventy-five percent (75%) percent of the teacher’s their annual salary. The remaining twenty-five percent (25%) percent of salary shall be held in trust, trust by the Board, Board for the teacher in a mutually agreed upon type of account. The twenty- twenty-five percent (25%) percent of salary for each of the threethree (3) years, plus accrued interest, shall be paid to the teacher in the leave year of the Plan. or