Compensation Grids 2A and 3A Clause Samples

The 'Compensation Grids 2A and 3A' clause defines the specific pay structures or salary scales applicable to certain roles or employee groups within an organization. Typically, this clause outlines how employees are categorized into these grids based on factors such as job title, experience, or performance, and details the corresponding rates of pay, increments, or bonus eligibility. By clearly delineating compensation levels, the clause ensures transparency and consistency in employee remuneration, helping to prevent disputes and support equitable pay practices.
Compensation Grids 2A and 3A. Employees in classes covered by compensation grid 2A and 3A shall advance to the next higher step in their salary range on their progression date. Advancement through the salary range shall occur semi-annually or annually in accordance with the requirements specified on the compensation grid for that class, until the maximum rate of pay is attained.
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Related to Compensation Grids 2A and 3A

  • Special Compensation The Company shall pay to the Executive a lump sum equal to three times the sum of (a) the highest per annum base rate of salary in effect with respect to the Executive during the three-year period immediately prior to the termination of employment plus (b) the Highest Bonus Amount. Such lump sum shall be paid by the Company to the Executive within ten business days after the Executive's termination of employment, unless the provisions of Section 3(e) below apply. The amount of the aggregate lump sum provided by this Section 3(c), whether paid immediately or deferred, shall not be counted as compensation for purposes of any other benefit plan or program applicable to the Executive.