SALARY ON DEMOTION definition

SALARY ON DEMOTION. Whenever an employee who has completed his probationary period in a higher class is then demoted to a position in a lower class for reasons other than unsatisfactory performance, or for functional disability, he shall receive the highest salary on the new range that does not exceed his rate of pay immediately prior to demotion and shall retain his anniversary date.
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Examples of SALARY ON DEMOTION in a sentence

  • SALARY ON DEMOTION The salary of an employee who has been demoted shall be determined as follows: 1309.1 Demotion to Another Position or Class-Voluntary.

Related to SALARY ON DEMOTION

  • Base Salary shall have the meaning set forth in Section 3(a) hereof.

  • Basic Salary shall have the meaning assigned to it in Section 5 of this Agreement.

  • Annual Salary means the salary given under this Part.

  • Salary as defined in Section 3.1(a).

  • Involuntary Termination means a termination of your employment with the Company pursuant to either (i) a termination initiated by the Company without Cause, or (ii) your resignation for Good Reason, and provided in either case such termination constitutes a Separation from Service. An Involuntary Termination does not include any other termination of your employment, including a termination due to your death or disability.

  • Retirement Age means the earlier to occur of:

  • Voluntary Termination means the termination by Executive of Executive's employment following a Change in Control which is not the result of any of clauses (i) through (v) set forth in the definition of Involuntary Termination above.

  • Base Compensation means the amount equal to the sum of (i) the greater of Executive’s then-current Annual Base Salary or Executive’s Annual Base Salary as of the date one day prior to the Change in Control, and (ii) the Average Incentive Bonus.

  • Earned Compensation means any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior to the date on which the Employment Period ends pursuant to Section 3(a) (but excluding any salary and interest accrued thereon payment of which has been deferred).

  • Normal Retirement Age means the Executive's 65th birthday.

  • Early Retirement Age means the date that the Executive has attained age 55 and completed seven Years of Service.

  • Retirement Date means the date as of which a Participant retires for reasons other than Total and Permanent Disability, whether such retirement occurs on a Participant's Normal Retirement Date or Late Retirement Date (see Section 6.1).

  • Annual Compensation means an amount equal to the greater of: