Minimum pay definition

Minimum pay means the higher of (a) 50% of the basic pay paid to the employee during the relevant pay reference period or (b) the amount the employee would have been entitled to under the National Minimum Wage Regulations 1999 for actual hours worked during the relevant pay reference period; “Pay reference period means a month, or in the case of an employee

Examples of Minimum pay in a sentence

  • Minimum pay shall be as follows: 60 percent of the journeyman wage for the first half of the training period 75 percent of the journeyman wage for the third quarter of the training period 90 percent of the journeyman wage for the last quarter of the training period In no instance shall a trainee be paid less than the local minimum wage.

  • Minimum pay will be two (2) hours at the applicable overtime rate.

  • Minimum pay rate for each level of qualification shall be met as required.

  • Minimum pay shall be as follows: 60 percentof the journeyman wage for the first half of the training period75 percentof the journeyman wage for the third quarter of the training period90 percentof the journeyman wage for the last quarter of the training periodIn no instance shall a trainee be paid less than the local minimum wage.

  • Minimum pay rates will be determined by an applicable federal or state law.

  • Minimum pay shall be as follows: 60 percentof the journeyman wage for the first half of the training period75 percentof the journeyman wage for the third quarter of the training period90 percentof the journeyman wage for the last quarter of the training period In no instance shall a trainee be paid less than the local minimum wage.

  • Minimum pay for calls between normal finishing time and midnight shall be 2 hours at the appropriate overtime rate of time plus a half (home to home).

  • Minimum pay will be $12.00 per hour in 2019 and $13.50 per hour in 2020.

  • Minimum pay: custodians and groundskeepers shall be paid a minimum of one (1) hour for each workday he/she is assigned to do maintenance work.

  • Minimum pay for any job assignment shall be no less than the equivalent of a four (4) hour call at the applicable hourly rate.

Related to Minimum pay

  • Minimum Payments $50 (with respect to all funds in the aggregate.) No payment pursuant to this Schedule is payable to a dealer, bank or other service provider for the first year with respect to sales of $1 million or more, at no load, in cases where A I M Distributors, Inc. has advanced the service fee to the dealer, bank or other service provider.

  • Minimum Payment means the amount of minimum payment as stated in the Fee Schedule;

  • Minimum Period means the minimum period for the Service, the initial term of which is set out on the Front Sheet and which starts on the Service Start Date; the minimum period may be renewed on agreement between you and us from time to time for further minimum periods for the same length as, or different to, the initial term.

  • Minimum Hire Period means the Minimum Hire Period as described on the invoices, quotation, authority to hire, or any other forms as provided by the Supplier to the Client.

  • Minimum Threshold means the average daily yield on the 10 Year Treasury Note (as reported in the Bloomberg GT10 index) over the Award Period.

  • Minimum Term means each minimum initial and subsequent period of service for each Service as shown on the Service Agreement and Order Schedule, the initial period to start on the date on which the relevant Service is first made available to you for use. For the avoidance of doubt, unless otherwise agreed or if not stated on the Service Agreement or order schedules, the Minimum Term will be 12 months or such other period as may be notified to you in accordance with paragraph 19.2.

  • Premium pay Per the statute, recipients have broad latitude to designate critical infrastructure sectors and make grants to third-party employers for the purpose of providing premium pay or otherwise respond to essential workers. While the interim final rule generally preserves the flexibility in the statute, it does add a requirement that recipients give written justification in the case that premium pay would increase a worker’s annual pay above a certain threshold. To set this threshold, Treasury analyzed data Federal Register / Vol. 86, No. 93 / Monday, May 17, 2021 / Rules and Regulations 26817 from the Bureau of Labor Statistics to determine a level that would not require further justification for premium pay to the vast majority of essential workers, while requiring higher scrutiny for provision of premium pay to higher- earners who, even without premium pay, would likely have greater personal financial resources to cope with the effects of the pandemic. Treasury believes the threshold in the interim final rule strikes the appropriate balance between preserving flexibility and helping encourage use of these resources to help those in greatest need. The interim final rule also requires that eligible workers have regular in-person interactions or regular physical handling of items that were also handled by others. This requirement will also help encourage use of financial resources for those who have endured the heightened risk of performing essential work.

  • Maximum Put Amount means the lesser of (i) Two Hundred Fifty Thousand Dollars ($250,000), or (ii) Two Hundred Fifty percent (250%) of the average of the Dollar Volume for the twenty (20) Trading Days immediately preceding the Put Date.

  • Minimum Price shall have the meaning set forth in Section 7.2(b)(ii).

  • Minimum Hourly Work Requirement means the work hours over a given time period that are required of you by your Employer in order to be eligible for coverage. Your Minimum Hourly Work Requirement is specified in the Schedule of Benefits.

  • VWAP Minimum Price Threshold means, with respect to any particular VWAP Purchase Notice, the Sale Price on the VWAP Purchase Date equal to the greater of (i) 80% of the Closing Sale Price on the Business Day immediately preceding the VWAP Purchase Date or (ii) such higher price as set forth by the Company in the VWAP Purchase Notice.

  • Minimum wage means wages as defined under the Minimum Wages Act-1948 and amended from time to time.

  • Minimum Purchase Price has the meaning set forth in Section 2.04.

  • Minimum Quarterly Distribution means $0.35 per Unit per Quarter (or with respect to the period commencing on the Closing Date and ending on September 30, 2005, it means the product of $0.35 multiplied by a fraction of which the numerator is the number of days in such period and of which the denominator is 92), subject to adjustment in accordance with Section 6.6 and Section 6.9.

  • Minimum Cash Balance means $10,000,000 minus (i) $500,000, (ii) any amounts to be paid to holders of Allowed Ongoing Trade Claims of New Permian Corp., and (iii) any amounts to be paid to holders of Allowed Cure Amounts pursuant to Section 8.4(ii).

  • Minimum Percentage means 3% of the number of outstanding shares of common stock of the Corporation as provided in the most recent 1934 Act filing made by the Corporation with the SEC immediately prior to the submission of the Nomination Notice.

  • Maximum Premium has the meaning set forth in Section 7.06(b).

  • Weeks pay means the rate of pay for the employee concerned at the date of termination, and shall include in addition to the ordinary pay any over- agreement payments and the following, if applicable:

  • Expenditure minimum means:

  • Minimum Period of Service means a period of 12 consecutive months beginning on the Service Start Date, unless set out otherwise in any applicable Order.

  • stipulated minimum threshold means that portion of local production and content as determined by the Department of Trade and Industry; and

  • Minimum DSCR means, with respect to a Supplemental Loan, (i) if the Senior Indebtedness bears interest at a fixed rate, 1.25:1, or (ii) if the Senior Indebtedness bears interest at a floating rate, 1.10:1.

  • Minimum Net Worth means, for any Fiscal Quarter, the minimum Consolidated Net Worth required to be maintained by the Parent as of the end of such Fiscal Quarter pursuant to Section 6.12.

  • Minimum Purchase Amount means an amount that would be sufficient to (i) reduce the Outstanding Amount of each class of Notes on such Distribution Date to zero and (ii) pay to the respective Noteholders the Class A Noteholders’ Interest Distribution Amount and the Class B Noteholders’ Interest Distribution Amount payable on such Distribution Date.

  • Minimum Level (ML means the concentration at which the entire analytical system must give a recognizable signal and an acceptable calibration point. The ML is the concentration in a sample that is equivalent to the concentration of the lowest calibration standard analyzed by a specific analytical procedure, assuming that all the method-specified sample weights, volumes and processing steps have been followed.