Rate Range and Discretionary Salary Increases Sample Clauses

Rate Range and Discretionary Salary Increases. The Company will establish and 2 fully distribute salary adjustment funds in accordance with the dates set forth below. No increase 3 adjustments to base pay will exceed the established Base Rate Range maximum. Employees at rate 4 maximums may receive lump sums in lieu of base salary increases. These lump sum increases will 5 charge to the salary adjustment fund. Review Period Fund Computation Date First Full Pay period Following Increase Percentage* 1 4/1/2020 7/1/2020 Market +0.5% 2 4/1/2021 7/1/2021 Market 3 4/1/2022 7/1/2022 Market 4 4/1/2023 7/1/2023 Market +0.5% 5 4/1/2024 7/1/2024 Market 6 4/1/2025 7/1/2025 Market * Minimum of $750 for any employee under comparatio of 1.00 and with hire dates six months or more prior to the Fund Computation Date 6 8 9 10 11 12 13 14 15 16 17 18 19 20
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Rate Range and Discretionary Salary Increases. The Company will establish and fully 12 distribute salary adjustment funds in accordance with the dates set forth below. No increase adjustments 13 to base pay will exceed the established Base Rate Range maximum. Employees at rate maximums may 14 receive lump sums in lieu of base salary increases. These lump sum increases will charge to the salary 15 adjustment fund. 17 In February of 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, and 2020 a review of market increases 18 will be conducted. If survey data indicates a market adjustment has occurred, a Selective Salary 19 Adjustment Fund (“Fund”) will be generated, with selective salary adjustments made no later than the 20 first pay period following July 1 of that year. The following process shall be followed in calculating the 21 Fund. 23 • The SIRS High Technology Composite Salary Budgets Report (“Report”) will be used. 24 Should the SIRS report be discontinued or its methodology significantly changed, a similar 25 report will be used. No geographical adjustment shall be made to this Report. 26 27 • Three groupings in the Report shall be used in calculating a Fund amount: 28 o Exempt 29 o Non-Exempt – Office Clerical 30 o Non-Exempt – Technical Support 31 o Below is an example of how the Fund Percentage shall be calculated each year. Only 32 for the purpose of illustrating this calculation, assume there were 1100 exempt 33 employees and the SIRS report projected a 2.8% increase for exempt employees, 1 there were 100 non-exempt office clerical employees and the SIRS Report projected
Sample 1
Rate Range and Discretionary Salary Increases. The Company will establish and fully 14 distribute salary adjustment funds in accordance with the dates set forth below. No increase adjustments 15 to base pay will exceed the established Base Rate Range maximum. Employees at rate maximums may 16 receive lump sums in lieu of base salary increases. These lump sum increases will charge to the salary 17 adjustment fund. 18 TABLE I 20 21 SELECTIVE SALARY ADJUSTMENT FUND 22 COMPUTATION DATES, EFFECTIVE DATES, 23 AND INCREASE PERCENTAGES 24 Review Period Fund Computation Date Increase Effective Date From Date Of Close Increase Percentage Minimum Increase 1 10 months 12 months 3.5% $750 2 22 months 24 months 3.5% $750 3 34 months 36 months 3.5% $750 4 46 months 48 months 3.5% $750 5 58 months 60 months 3.5% $750 25 26 27 28 29 30 31 32 33 34 35 36 37
Sample 1
Rate Range and Discretionary Salary Increases. The Company will establish and fully 2 distribute salary adjustment funds in accordance with the dates set forth below. No increase adjustments 3 to base pay will exceed the established Base Rate Range maximum. Employees at rate maximums may 4 receive lump sums in lieu of base salary increases. These lump sum increases will charge to the salary 5 adjustment fund. 6 7 TABLE I 8 9 SELECTIVE SALARY ADJUSTMENT FUND 10 COMPUTATION DATES, EFFECTIVE DATES, 11 AND INCREASE PERCENTAGES 12 13 Fund Increase 14 Review Computation Effective Date Increase Minimum 15 Period Date From Date Percentage Increase 16 Of Close 18 1 10 months 12 months 3.5% $750 19 2 22 months 24 months 3.5% $750 20 3 34 months 36 months 3.5% $750 21 4 46 months 48 months 3.5% $750 22 5 48 months 60 months 3.5% $750 23 In February of 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, and 2020 a review of market increases 24 will be conducted. If survey data indicates a market adjustment has occurred, a Selective Salary 25 Adjustment Fund (“Fund”) will be generated, with selective salary adjustments made no later than the 26 first pay period following July 1 of that year. The following process shall be followed in calculating the 27 Fund. 28 29 • The SIRS High Technology Composite Salary Budgets Report (“Report”) will be used.
Sample 1
Rate Range and Discretionary Salary Increases. The Company will establish and fully 31 distribute salary adjustment funds in accordance with the dates set forth below. No increase adjustments 32 to base pay will exceed the established Base Rate Range maximum. Employees at rate maximums may 1 receive lump sums in lieu of base salary increases. These lump sum increases will charge to the salary
Sample 1

Related to Rate Range and Discretionary Salary Increases

  • Salary Increases During the period of employment as provided in Paragraph 1(b) hereof, the base salary of the Executive shall be reviewed no less frequently than annually by the Board or the Compensation Committee of the Board to determine whether or not the same should be increased in light of the duties and responsibilities of the Executive and the performance thereof, and if it is determined that an increase is merited, such increase shall be promptly put into effect and the base salary of the Executive as so increased shall constitute the base salary of the Executive for purposes of Paragraph 3(a).

  • Salary Increase 46.01 Effective July 1, 2020 an increase equal to 1% will be added to the job rates and to the salaries of all employees. Effective July 1, 2021 an increase equal to 1% will be added to the job rates and to the salaries of all employees. Effective July 1, 2022 an increase equal to 1% will be added to the job rates and to the salaries of all employees.

  • Salary Increments The Employer may grant an increment for meritorious service after an Employee has served for a period of twelve (12) months following the day established in Article 25.07 or twelve (12) months following the date of a change in his rate of compensation as established in Articles 25.04, 25.05, or 25.06.

  • General Salary Increase 1. Effective with the start of the pay week commencing closest to September 1, 2013, employees shall be provided an across-the-board salary increase of one percent (1%). Salary schedules shall be increased accordingly.

  • Salary Step Advancement No period of unpaid leave shall be counted toward time served for purposes of salary step advancement. Completion of at least 75% of the assigned work year for the employee in a paid status is a prerequisite to salary advancement.

  • Share Class Annual Compensation Rate Class R-1 1.00% Class R-2 0.75% Class R-2E 0.60% Class R-3 0.50% Class R-4 0.25% Class R-5 No compensation paid Class R-5E No compensation paid Class R-6 No compensation paid

  • UNPAID DISCRETIONARY LEAVE 1. a. An employee shall be entitled to a minimum of three (3) days of unpaid discretionary leave each year.

  • Reallocation to a Class with a Lower Salary Range Maximum 1. If the employee meets the skills and abilities requirements of the position and chooses to remain in the reallocated position, the employee retains existing appointment status and has the right to be placed on the Employer’s internal layoff list for the classification occupied prior to the reallocation.

  • Annual Increases On each anniversary of Employee's termination from employment, any remaining amounts to be paid during the next year pursuant to this Paragraph 9 shall be increased to an amount equal to one hundred ten percent (110%) of the amounts required to be paid by Employer hereunder under the provisions of this Paragraph 9 during the preceding year.

  • Annual Discretionary Bonus Effective as of the Effective Date, the Executive will be eligible to earn an annual performance bonus of up to 40% of the Executive’s Base Salary (the “Target Bonus”), based upon the Board’s assessment of the Executive’s performance and the Company’s attainment of targeted goals as set by the Board in its sole discretion. To the extent the Executive’s Base Salary and/or target bonus percentage of Base Salary is changed during the year to which the performance bonus relates, the Target Bonus shall be calculated based on base salary actually paid during such year (and not solely on the Executive’s Base Salary at the end of such year) and shall apply the initial target bonus percentage of Base Salary and the revised target bonus percentage of Base Salary based on the portion of the year during which each was in effect. The Board may determine to provide the bonus in the form of cash, equity award(s), or a combination of cash and equity. Following the close of each calendar year, the Board will determine whether the Executive has earned a performance bonus, and the amount of any performance bonus, based on the set criteria. No amount of the annual bonus is guaranteed, and the Executive must be an employee in good standing on the date of payment in order to be eligible for any annual bonus, except as specifically set forth below. The annual performance bonus, if earned, will be paid by no later than March 15 of the calendar year after the year to which it relates. The Executive’s bonus eligibility will be reviewed on an annual or more frequent basis by the Board and is subject to change in the discretion of the Board.

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