Salary Conversion Sample Clauses

Salary Conversion. The mode of conversion for employees shall be set out as in Appendix II.
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Salary Conversion. With respect to any semi-monthly salary payments payable to Xx. Xxxxxxx during October through December, 2009 (the “Conversion Period”), Xx. Xxxxxxx may elect, by written notification to the Company, to receive up to the equivalent of four (4) such salary payments (the “Maximum Conversion Amount”) in the form of common stock of the Company instead of in cash. Xx. Xxxxxxx may exercise this conversion election with respect to all or any portion of each semi-monthly salary amount during the Conversion Period up to the Maximum Conversion Amount. The conversion price per share, for any such salary payments to be received in stock, will be twenty cents ($0.20) per share.
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Salary Conversion. ‌ Each year prior to January 15th at 5:00 p.m. (the "Notice Deadline") Counsel may
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Salary Conversion a ) All officers in BG 50, 51 and BG 52 who are in service with the Bank on 28th February 2002 shall receive a salary adjustment of nine (9) % to the salary drawn on 28th February 2002.
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Salary Conversion. The participants whose salary is being converted needs to be selected from the drop down list. Enter in the salary amount that is to remain as salary. The difference will automatically be converted to project funds on the project funds line. The amounts should be entered so that all funds being converted match up with the original years funded. The effective date of the conversion also needs to be entered. This is the date the ARC will consider the conversion taking place. Up to 500 words should be entered into the justification outlining the reason for converting the salary funds. This should be the ‘WHY’ for the request. Supporting documentation should only be attached requested by the ARC. The details of the request must be listed within the justification. Project - Salary Relinquishment There are occasions where the salary funds have to be returned to the ARC, however the project is still ongoing (i.e. has not come to an end). If this happens, a Project - Salary Relinquishment variation will have to be completed. For salary funds to be relinquished, the full amount to be relinquished must be included within the request, however for this variation, to relinquish the funds you must confirm the amount that is to remain on the project - not the amount to be recovered by the ARC.
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Salary Conversion. Select Salary Conversion from the ‘Add Project Variation’ drop-down. Select the participant for which the salary is being converted, from the ‘Select Participant/Award’ drop-down. For each year, calculate the remaining funds that are to be held as Salary, by subtracting the amount to be converted from the Salary ‘Indexed Amount’, as shown in the above example. This will automatically calculate the new ‘Project Funds’ as shown in the above example. Provide the date that this is to take effect in the ‘Effective Date’ box. Select ‘Add’ Provide details on the conversion in the Justification box. Documentation is not required for this type of variation, unless requested by the ARC. ‘Save’ and ‘Close’ the request.
Sample 1
Salary Conversion. The participants whose salary is being converted needs to be selected from the drop down list. Enter in the salary amount that is to remain as salary. The difference will automatically be converted to project funds on the project funds line. The amounts should be entered so that all funds being converted match up with the original years funded. The effective date of the conversion also needs to be entered. This is the date the ARC will consider the conversion taking place.
Sample 1
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Salary Conversion. The mode of salary conversion for confirmed Officers who are in service on 31st December 2011 shall be equivalent to the basic salary of the officer as at 31st December 2011 multiplied (x) by the percentage of adjustment as per the matrix in Appendix ‘B2’ herein annexed. Any fraction of the Ringgit after conversion will be rounded up to the next Ringgit. For Officers whose salary is below the new minimum of the Grade, it shall be adjusted to the minimum. For Officers whose salary exceeds the maximum of the Grade after the adjustment/increment, their salary shall then remain at the maximum of the Grade. For officers whose salary has reached the maximum of the salary range, a lump sum payment shall be made based on the formula of twenty four (24) times nine percent (9%) of the maximum salary, payable over two (2) equal tranches. For Officers whose salary reaches the maximum of the salary range after the adjustment of nine percent (9%), a lump sum payment shall be made based on the difference between the amount after the adjustment and the maximum salary times twenty four (24), payable over two (2) equal tranches. For Officers whose salary reaches the maximum of the salary range not after the adjustment but pursuant to the January 2012 increment, a lump sum payment shall be made based of the difference between the amount after increment and the maximum salary times twenty four (24), payable over two
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Salary Conversion a) All officers in XX00, XX00 xxx XX00 who are in service with the Bank on 29th February 2008 shall receive a salary adjustment of 9% plus 1% ex-gratia payment (for 36 months) to the salary drawn on 29th February 2008.
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Related to Salary Conversion

  • Voluntary Conversion At any time after the Original Issue Date until this Debenture is no longer outstanding, this Debenture shall be convertible, in whole or in part, into shares of Common Stock at the option of the Holder, at any time and from time to time (subject to the conversion limitations set forth in Section 4(d) hereof). The Holder shall effect conversions by delivering to the Company a Notice of Conversion, the form of which is attached hereto as Annex A (each, a “Notice of Conversion”), specifying therein the principal amount of this Debenture to be converted and the date on which such conversion shall be effected (such date, the “Conversion Date”). If no Conversion Date is specified in a Notice of Conversion, the Conversion Date shall be the date that such Notice of Conversion is deemed delivered hereunder. No ink-original Notice of Conversion shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Conversion form be required. To effect conversions hereunder, the Holder shall not be required to physically surrender this Debenture to the Company unless the entire principal amount of this Debenture, plus all accrued and unpaid interest thereon, has been so converted. Conversions hereunder shall have the effect of lowering the outstanding principal amount of this Debenture in an amount equal to the applicable conversion. The Holder and the Company shall maintain records showing the principal amount(s) converted and the date of such conversion(s). The Company may deliver an objection to any Notice of Conversion within one (1) Business Day of delivery of such Notice of Conversion. In the event of any dispute or discrepancy, the records of the Holder shall be controlling and determinative in the absence of manifest error. The Holder, and any assignee by acceptance of this Debenture, acknowledge and agree that, by reason of the provisions of this paragraph, following conversion of a portion of this Debenture, the unpaid and unconverted principal amount of this Debenture may be less than the amount stated on the face hereof.

  • Mandatory Conversion Provided an Event of Default has not occurred, then, commencing after the Actual Effective Date, the Borrower will have the option by written notice to the Holder ("Notice of Mandatory Conversion") of compelling the Holder to convert all or a portion of the outstanding and unpaid principal of the Note and accrued interest, thereon, into Common Stock at the Conversion Price then in affect ("Mandatory Conversion"). The Notice of Mandatory Conversion, which notice must be given on the first day following a consecutive seven (7) day trading period during which the closing bid price for the Company's Common Stock as reported by Bloomberg, LP for the Principal Market shall be more than $3.00 each day with an average daily trading volume of 80,000 shares. The date the Notice of Mandatory Conversion is given is the "Mandatory Conversion Date." The Notice of Mandatory Conversion shall specify the aggregate principal amount of the Note which is subject to Mandatory Conversion, which amount may not exceed in the aggregate, for all Holders who received Notes similar in term and tenure as this Note, the dollar volume of Common Stock traded on the Principal Market during the seven (7) trading days immediately preceding the Mandatory Conversion Date. Mandatory Conversion Notices must be given proportionately to all Holders of Notes who received Notes similar in term and tenure as this Note. The Borrower shall reduce the amount of Note principal and interest subject to a Notice of Mandatory Conversion by the amount of Note Principal and interest for which the Holder had delivered a Notice of Conversion to the Borrower during the twenty (20) trading days preceding the Mandatory Conversion Date. Each Mandatory Conversion Date shall be a deemed Conversion Date and the Borrower will be required to deliver the Common Stock issuable pursuant to a Mandatory Conversion Notice in the same manner and time period as described in Section 2.2 above.

  • Sick Leave Conversion On January 1 of each year, an employee may convert up to a maximum of 30 hours accumulated sick leave at fifty percent (50%) cash value for the sole purpose of reimbursing the employee for medical costs. This conversion is subject to the following:

  • Automatic Conversion Upon the automatic conversion of all outstanding shares of the series of equity securities comprising the Exercise Shares, this Warrant shall become exercisable for that number of shares of Common Stock of the Company into which the Exercise Shares would then be convertible, so long as such shares, if this Warrant had been exercised prior to such offering, would have been converted into shares of the Company’s Common Stock pursuant to the Company’s Certificate of Incorporation. In such case, all references to “Exercise Shares” shall mean shares of the Company’s Common Stock issuable upon exercise of this Warrant, as appropriate.

  • Optional Conversion To convert any Conversion Amount into shares of Common Stock on any date (a "Conversion Date"), the Holder shall (A) transmit by email, facsimile (or otherwise deliver), for receipt on or prior to 11:59 p.m., New York, NY Time, on such date, a copy of an executed notice of conversion in the form attached hereto as Exhibit A (the "Conversion Notice") to the Company. On or before the third Business Day following the date of receipt of a Conversion Notice (the "Share Delivery Date"), the Company shall (A) if legends are not required to be placed on certificates of Common Stock pursuant to the then existing provisions of Rule 144 of the Securities Act of 1933 (“Rule 144”) and provided that the Transfer Agent is participating in the Depository Trust Company's ("DTC") Fast Automated Securities Transfer Program, credit such aggregate number of shares of Common Stock to which the Holder shall be entitled to the Holder's or its designee's balance account with DTC through its Deposit Withdrawal Agent Commission system or (B) if the Transfer Agent is not participating in the DTC Fast Automated Securities Transfer Program, issue and deliver to the address as specified in the Conversion Notice, a certificate, registered in the name of the Holder or its designee, for the number of shares of Common Stock to which the Holder shall be entitled which certificates shall not bear any restrictive legends unless required pursuant the Rule 144. If this Note is physically surrendered for conversion and the outstanding Principal of this Note is greater than the Principal portion of the Conversion Amount being converted, then the Company shall, upon request of the Holder, as soon as practicable and in no event later than three (3) Business Days after receipt of this Note and at its own expense, issue and deliver to the holder a new Note representing the outstanding Principal not converted. The Person or Persons entitled to receive the shares of Common Stock issuable upon a conversion of this Note shall be treated for all purposes as the record holder or holders of such shares of Common Stock upon the transmission of a Conversion Notice.

  • Casual Conversion (a) A casual employee who has been rostered on a regular and systematic basis over a period of 26 weeks has the right to request conversion to permanent employment:

  • Change in Option Price or Rate of Conversion If the purchase or exercise price provided for in any Options, the additional consideration, if any, payable upon the issue, conversion, exercise or exchange of any Convertible Securities, or the rate at which any Convertible Securities are convertible into or exercisable or exchangeable for shares of Common Stock increases or decreases at any time, the Exercise Price in effect at the time of such increase or decrease shall be adjusted to the Exercise Price which would have been in effect at such time had such Options or Convertible Securities provided for such increased or decreased purchase price, additional consideration or increased or decreased conversion rate, as the case may be, at the time initially granted, issued or sold. For purposes of this Section 2(b)(iii), if the terms of any Option or Convertible Security that was outstanding as of the date of issuance of this Warrant are increased or decreased in the manner described in the immediately preceding sentence, then such Option or Convertible Security and the shares of Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been issued as of the date of such increase or decrease. No adjustment pursuant to this Section 2(b) shall be made if such adjustment would result in an increase of the Exercise Price then in effect.

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