Weekly Pay Rate definition
Weekly Pay Rate means (i) for an eligible Employee compensated on a salaried basis or partly on a salaried basis and partly on a commission basis the eligible Employee’s Base Pay Rate divided by 52, (ii) for an eligible Employee compensated on an hourly basis the eligible Employee’s Base Pay Rate multiplied by the number of hours the Employee regularly is scheduled to work, not to exceed 40 hours per week, and (iii) for an Eligible Employee compensated entirely on a commission basis $961.54 per week. Pay for one day shall be 20% of the Weekly Pay Rate.
Weekly Pay Rate means one-fifty second (1/52nd) of the Participant's highest annual rate of regular salary in effect at any time during the twelve months immediately preceding his or her date of termination of employment for all services rendered to the Company.
Examples of Weekly Pay Rate in a sentence
Base Hourly Pay Rate All Total Purpose Hourly Site Pay Allow Rate Total Weekly Pay Rate Base Hourly Pay Rate All Total Purpose Hourly Site Pay Allow Rate Total Weekly Pay Rate Base Hourly Pay Rate All Total Purpose Hourly Site Pay Allow Rate Total Weekly Pay Rate APPRENTICE Pay Rates (inc.