Variable salary component definition

Variable salary component here means:
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Variable salary component here means: • Commission, bonus or similar variable salary components, • Premium pay and compensation for staggered hours, duty or standby compensation or similar variable salary components, if not included in the monthly salary. “Commission, bonus and similar” here means such variable salary components as are directly linked to the employee’s individual work performance. For each calendar day (whole or in part) of absence that entitles the employee to vacation pay, an average daily income of variable salary components is added to “the sum of the variable salary components that have been paid during the earning year”. This is calculated using the following formula: Compensation for staggered hours and for duty and standby hours or similar shall not be included in the above average calculation if the employee has received such compensation for a maximum of 60 days during the earning year.
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Variable salary component here means: For information: The number of days of employment is defined in Section 7 of the Annual Leave Act. For information: Overtime compensation, compensation per extra hour in the case of part-time employment, and compensation for travelling time are not included in the calculation of vacation supplement (see Section 5 Item 3:1, Section 5 Item 4:1 and Section 6 Item 3 respectively).
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Related to Variable salary component

  • Monthly Salary Rate means the amount agreed to by Owner that can be used on Applications for Payment throughout the Construction Phase to account for the monthly salary costs of Contractor’s salaried personnel assigned to the Project. A Monthly Salary Rate must be established for each salaried person and must be approved in writing by Owner in advance of any Application for Payment for that person. The Monthly Salary Rate is for convenience only and any payments made for Contractor’s personnel are subject to audit to determine the actual cost of the wages and allowable employer contributions incurred by Contractor for services performed. The initial Monthly Salary Rate is included in Exhibit “G” attached to this Agreement.

  • Incentive Pay means an annual amount equal to the aggregate annual bonus, in addition to Base Pay, made or to be made in regard to services rendered in any calendar year or performance period pursuant to any bonus plan of the Company.

  • Salary range is the range of rates between, and including, the minimum and maximum rate currently authorized for the class;

  • Density bonus means a floor area ratio bonus over the otherwise maximum allowable density permitted under the applicable zoning ordinance and land use elements of the general plan of a city, including a charter city, city and county, or county of:

  • Average Monthly Compensation means the quotient determined by dividing the sum of the Employee’s then current Base Salary (as defined in Section 4.1 hereof) and the greater of the most recently paid Incentive Compensation (as defined in Section 4.2 hereof) or the average of Incentive Compensation paid over the three most recent years by twelve.