TWL definition
Examples of TWL in a sentence
Current bargaining unit employees may receive internal interim appointments to another position within a bargaining unit covered by the terms of this Agreement; and shall be compensated as a temporary working level (TWL) pay supplement.
Employees receiving TWL pay supplements may not be paid higher than the top step of the pay range assigned.
Specifies that a temporary working level (TWL) assignment to a position outside of the bargaining unit follows OAC 123:1-37-07.
Under the terms of the TWL Compensation Agreement, Tetrarch is obligated to provide to the Grantor, a Quarterly Statement (as that term is defined in the TWL Compensation Agreement).
The Grantee further agrees that in the event that any portion of the TWL Compensation is paid by Tetrarch to Summit Oil Limited in accordance with the terms of the Summit Pledge Agreement and such payment results in a reduction of the Maximum Sum (as that term is defined in the TWL Compensation Agreement) payable to the Grantor, the Maximum Interest of the Grantee under this Agreement shall be reduced by the same percentage as the Maximum Sum is reduced under the TWL Compensation Agreement.
For greater certainty, the Grantor’s obligation to pay the Participating Interest to the Grantee only arises if, as and when payment(s) are received by the Grantor pursuant to the TWL Compensation Agreement.
While receiving a TWL pay supplement, an employee’s pay will be adjusted to a step in the pay range of the TWL position that provides him with at least a 5% increase in step rate.
During the temporary assignment, the employee shall receive a temporary wage level (TWL) adjustment in recognition of the assumption of higher levels or substantial additional duties and responsibilities.
The Grantee acknowledges and agrees that the Grantor has entered into a Security and Pledge Agreement with Summit Oil Limited dated June 20, 2005 (the “Summit Pledge Agreement”) pursuant to which the Grantor has pledged all of its interest in and rights to receive payments under the TWL Compensation Agreement.
TWL shall thereupon automatically be responsible for all such liabilities and obligations, subject to and in accordance with this Agreement, the Share Option Agreement and the TBNG Share Purchase Agreement, without any recourse to PTI Holdings.