Variable Rate Compensation Clause Samples

Variable Rate Compensation. Variable rate compensation pool of funds for the 2021-2022 school year shall equal Ten Thousand dollars ($10,000.00). In each of the successive contract years during the term of the Agreement, the increase in variable rate compensation pool of funds shall be adjusted based on Assistant Superintendent’s salary adjustment under the Act 93 Agreement. The variable rate compensation shall not be cumulative; however the increase in the variable rate compensation shall be cumulative. The variable rate compensation shall be paid, if authorized by the Superintendent, on an annual basis after completion of Assistant Superintendent’s annual performance review. The variable rate compensation paid to Assistant Superintendent shall be authorized by the Superintendent based on the performance of goals as determined by the Superintendent. The variable rate compensation is intended by the School District to qualify as regular compensation for purposes of the Public School Employees Retirement System (“PSERS”). For the avoidance of doubt, Assistant Superintendent shall have no right to receive additional compensation available under Act 93, including but not limited to compensation in the form of a Performance Goals Merit Bonus. The variable increase shall be awarded based on the following performance assessment rating: Rate of Performance Incentive Compensation Performance Rating Achieved 100% Exemplary (3.0 - 4.0) 75% Proficient (2.5 - 2.9) 50% Proficient (2.0 - 2.4) 25% Progressing (1.0 - 1.9) 0% Not meeting standards (Below 1.0)