Adjustment of Salary Clause Samples
The Adjustment of Salary clause establishes the conditions under which an employee's salary may be increased or decreased during their employment. Typically, this clause outlines the factors that can trigger a salary adjustment, such as performance reviews, changes in job responsibilities, or company-wide compensation policies. By clearly defining the process and criteria for salary changes, the clause ensures transparency and helps prevent disputes regarding compensation adjustments.
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Adjustment of Salary. The Board of Directors of CTS may at any time or from time to time change the regular compensation provided for in the preceding paragraph or otherwise change the benefits receivable by the Employee under this Employment Contract and the performance of Employee shall be reviewed annually on or about the anniversary date of this contract for the purpose of considering whether an adjustment should be made in Employee's regular compensation. In the event that such regular compensation shall be increased, then, from and after the date of such increase, such regular compensation shall be deemed to be the amount as so increased.
Adjustment of Salary. As promptly as practicable after the conclusion of each of the Company's fiscal years during the term of the Executive's employment hereunder, the certified public accountants regularly retained by the Company shall determine the increase, if any, in the cost of living, using as the basis of such computation the current applicable Consumer Price Index published by the Bureau of Labor Statistics of the United States Department of Labor (the "Index"). Any such increase shall be computed as follows:
(a) The Index number in the column for Broward County, Florida, entitled "all items," for the month of June (or such other month immediately following the Company's fiscal year end in the event of a change in the Company's fiscal year end) shall be the "Current Index Number" and the corresponding Index number for the immediately preceding June (or such other month immediately following the Company's fiscal year end in the event of a change in the Company's fiscal year end), commencing with June 1st, 1999, shall be the "Base Index Number."
(b) The increase in the cost of living shall be determined by dividing the Current Index Number by the Base Index Number and subtracting the integer 1 from the quotient thereof, and then multiplying the remainder by One Hundred Percent (100%) in accordance with the following formula: Increase in = Current Index Number - 1 x 100% Cost of Living Base Index Number
(c) The percentage increase in the cost of living, multiplied by the Executive's then current salary, shall be the increase required to be determined pursuant to this Section 3.2.
(d) If the publication of the Consumer Price Index is discontinued for any reason, then the parties shall utilize comparable statistics of the cost of living for the City of Pompano Beach, Florida, the City of Fort Lauderdale, Florida, or Palm Beach County, Florida, , as computed and published by an agency or instrumentality of the United States of America or by a responsible financial periodical or recognized authority then to be selected by the parties.
(e) In the absence of fraud or manifest error, any determination made by the Company's accountants pursuant to this Section 3.2 shall be conclusive and binding upon the Company and the Executive.
(f) The Executive's then current salary shall be adjusted as of July 1st of each year, commencing as of July 1st, 1999, in accordance with the provisions of this Section 3.2 and such adjustment shall remain in effect during such year.
Adjustment of Salary. Salaries shall be amended from time to time in accordance with the formula for the calculation of annual salary specified in sub-clause (1), above, to reflect adjustments to the base salaries and clinical loading as specified in sub-clauses (2) to (3), above. Allowances payable pursuant to subclauses (5) and (6), below, are not counted for the purpose of adjustment of salary pursuant to this sub-clause.
Adjustment of Salary. The Employer Component of annual salary will be amended from time to time to reflect adjustments to the University Industrial Agreement salary and University prescribed clinical loading. Allowances payable pursuant to subclauses (5) and (6) below, are not counted for the purpose of adjustment of salary pursuant to this subclause.
Adjustment of Salary. 11.5.1 Salaries shall be adjusted from time to time in accordance with the formula for the calculation of annual salary specified in clause 11.1 to reflect adjustments to the base salaries/total remuneration and clinical loading as specified in clauses 11.2 and 11.3 provided that
(a) Part-time employment with the University When a Clinical Academic is employed by the University on a part- time basis, the salary shall be calculated on a pro-rata basis in proportion to full time salary.
Adjustment of Salary. The amount of the Salary may be adjusted from time-to-time by the determination of the CEO and Board of Directors. Except as otherwise provided in this Article, the date for administration of any revision to the Salary shall be reassessed by the Board of Directors on an annual basis, but in any event, no later than the anniversary of the Effective Date. The extent and flexibility of the initial work commitment of the Employee, in Article 2.01, is indirect proportion to additional work commitments, the nature and extent of which have been identified for and communicated to the Corporation. Accordingly, if, within the first 120 (one-hundred and twenty) days, a material variation to the initial work commitment is identified by either the Employee or the CEO, the nature of which accounts for 20% less thru 1 or 20% more than the initial work commitment days, then at the election of either the Employee or CEO, are assessment of the Salary will be completed by the Board of Directors. Such reassessment shall be based on the Employee fulfilling and/or achieving goals and objectives (“Employee Performance”) set forth by mutual agreement between the Corporation and the Employee at the time of execution of the Agreement and other such Employee Perfomance determined to be reasonable by the CEO and/or the Board of Directors established during the work period being reassessed.
Adjustment of Salary. The adjustment in salary necessary to effect a change in training level shall be in addition to the regular employment and adjustment increments.
Adjustment of Salary. As promptly as practicable after the sale of Three
Adjustment of Salary. The Board of Directors may annually review Executive's salary to be paid pursuant to Section 3(a) hereof and, based upon such factors as the Board of Directors may choose to consider, may increase such salary, in the Board of Director's sole discretion, but may not, without Executive's written consent, reduce such salary below that in effect from time to time hereunder.
Adjustment of Salary. After the conclusion of each anniversary of employment with the Company subsequent to those specifically set forth in paragraph 3.1, the Board of Directors will determine any increase in the salary from the previous year. Any decrease in the salary from the previous year must be with the consent of the Employee.