Compensation and Fringe Benefits Clause Samples
The COMPENSATION AND FRINGE BENEFITS clause defines the salary, wages, and additional benefits that an employee is entitled to receive as part of their employment. This typically includes details about base pay, bonuses, health insurance, retirement plans, paid time off, and other perks or allowances. By clearly outlining both monetary and non-monetary compensation, this clause ensures transparency and helps prevent misunderstandings or disputes regarding employee entitlements.
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Compensation and Fringe Benefits. (a) The Company shall, during the Term of Employment, pay to the Executive as compensation for the performance of his duties and obligations a salary of $240,000 per annum. This compensation is subject to annual review and adjustment, as appropriate in the judgment of the Company. The compensation payable pursuant to this Section 5(a) shall be payable in equal semi-monthly installments on the last day of each such pay period.
(b) The Executive shall be enrolled and participate in any retirement, group insurance and other fringe benefit plans and arrangements which are applicable to the similarly situated personnel of the Company and in effect from time to time, if the Executive is eligible therefor, in each case in accordance with and subject to the provisions thereof.
Compensation and Fringe Benefits. 1. Compensation shall be determined by each teacher’s Schedule A salary prorated for the amount of time worked. Time when both teachers are scheduled to work shall count into the compensation for each teacher.
2. Health, Dental, Vision and Group Life insurance shall be prorated according to Article XIII, Sections C, 4, 5, 6.
Compensation and Fringe Benefits. A. GROUP TERM LIFE INSURANCE. Each teacher will have a $50,000 ($100,000 accidental death) life insurance policy paid by the Corporation, except for $0.24 (twenty- four cents) paid annually by the teacher. The $0.24 (twenty-four cents) will be payroll deducted from the first paycheck in January and is non-refundable.
Compensation and Fringe Benefits. Schedule 2.17 contains a correct and complete list of each officer, director, employee or agent of Merging Entity in the format as set forth in Schedule 2.17. Also, Schedule 2.17 contains a description of all fringe benefits presently being provided by Merging Entity to any of its employees or agents.
Compensation and Fringe Benefits. For all services rendered by Employee to Employer in any capacity, Employee shall be compensated in accordance with the terms set forth in this section and in Exhibit B, which is attached hereto and made a part hereof. Employee shall be entitled to participate in and to be covered by a profit-sharing, pension, life insurance, accident insurance, health insurance, hospitalization and any other employee benefit plan effective with respect to employees of Employer only to the extent he/she shall be eligible and qualify under the terms of such plans.
Compensation and Fringe Benefits. 801 Faculty members shall receive full salary while on sabbatical leaves of one semester duration. Seventy-five percent of the annual salary shall be paid for sabbatical leaves of two semesters. The faculty member shall continue to receive all health and welfare benefits during his or her leave.
Compensation and Fringe Benefits. Job share teachers will be subject to 20 the rights and benefits of the negotiated agreement. The amount of fringe 21 benefits that are due a full-time teacher shall be prorated pursuant to the 22 existing collective bargaining agreement.
Compensation and Fringe Benefits. The compensation and fringe benefits to be received by Employee in consideration of the services to be rendered by Employee are set forth in Exhibit “A” attached hereto. The provisions of Exhibit “A” are incorporated into this Agreement by reference as if fully set forth herein. The Company reserves the right to cancel or change the employee benefit plans and programs it offers to employees.
Compensation and Fringe Benefits. For all the services rendered by the Executive to the Company in the Position, the Executive shall be compensated by the Company in accordance with this Article II. Such compensation and benefits shall be paid in accordance with the Company’s customary payroll practices, and shall be subject to withholding required by federal, state and local laws and otherwise with the consent of the Executive.
Compensation and Fringe Benefits.
A. Employees shall be paid pursuant to Appendix “C” of this Agreement, with the exception of those employees whose pay rate is not on the salary schedule as a result of longevity with the District. Those employees whose salary rate is not reflected on any of the salary schedules found in Appendix “C” of this Agreement shall receive an annual salary increase for the duration of the Agreement as follows: Raises will take effect annually on July 1. Employees whose normal work year is 200 days or less will not receive the increase for the next year as indicated above if employment began in the second semester, however, such employees shall receive the increase for each year thereafter. Twelve (12) month employees hired after January 1 will not receive the increase for the next year as indicated above, however such employees shall receive the increase for each year thereafter.
B. New employees may be placed on the salary schedule at a step no higher than Step 10 for comparable, similar work experience. New employees shall have their appropriate salary placement determined and adjusted as per the schedule in Appendix C. Information on the placement on the schedule of all newly hired employees will be provided to the Association president by the Board. Newly hired employees shall receive reimbursement up to $50 for the required physical examination after six (6) months of employment.
C. A one-on-one special education paraprofessional who is assigned to a student for the entire school day with the exception of the duty-free lunch period shall be paid for one (1) extra hour per day for each day that the paraprofessional performs the assignment. The determination of such an assignment shall be made by the administration.
D. The Board shall provide insurance coverage as specified on Appendix "D" attached hereto.
E. The Board shall pay a longevity stipend to full-time, twelve-month employees as follows: Upon an employee's completion of the tenth (10th) year of consecutive full-time service to the district, a longevity stipend of $325.00 will be paid annually to the employee as part of his/her regular pay. Upon an employee's completion of the fifteenth (15th) year of consecutive full-time service to the district, a longevity stipend of $425.00 will be paid annually to the employee as part of his/her regular pay. Upon an employee's completion of the twentieth (20th) year of consecutive full-time service to the district, a longevity stipend of $575.00 will be paid annu...