SALARY RATES Section 12.1 The following shall apply to full-time employees:
Salary Rate The annual salary for regular faculty will be prorated according to the established workload for the academic year.
Application of Salary Rates The Employer shall continue the current application of salary rates for the duration of this Agreement.
Salary Ranges A. The salary ranges for classifications covered by this Agreement shall be those contained in Appendix D.
Salary Range a. At the beginning of the 2020-21 school year, the salaries of returning full-time teachers were between $36,500 to $61,000.
Annual Salary Executive's compensation shall consist of an annual base salary (the "Annual Salary") of one hundred fifty thousand dollars ($150,000), before all customary payroll deductions. The Annual Salary shall be reviewed, and shall be subject to change, by the Board of Directors of Employer (or the Compensation Committee thereof) at least annually while Executive is employed hereunder.
Lower Salary Level An employee who accepts another position with a lower salary range will be paid an amount equal to their current salary, provided it is within the salary range of the new position. In those cases where the employee’s current salary exceeds the maximum amount of the salary range for the new position, the employee will be compensated at the maximum salary of the new salary range.