For Fiscal Year 2023 Clause Samples

For Fiscal Year 2023. By giving written notice of its desire to do so on or before August 1, 2021, either party may reopen this
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For Fiscal Year 2023. (1) Any employee whose hourly wage falls below the mid-point of their pay grade (per the 2022 wage calculation) will receive a 1.0% increase to their base wage effective on the first day of Payroll Year 2023; and (2) All bargaining unit employees whose wage is below the maximum pay rate in his/her pay grade (see appendix A) will receive one hundred percent of the Seattle-Tacoma-Bellevue Area Consumer Price Index (CPI-W) between October 2021 and October 2022, with a minimum of two percent (2%) and a maximum of five percent (5%) applied to base wages up to the maximum pay rate in the employee’s pay grade. The COLA will age the pay grades accordingly. For those employees who were beyond the range of their pay grade (Z rated), once the range moves when the COLA is applied, they will receive any difference between their prior position and the top of the pay grade in a lump sum. (3) Following the date of the employee’s performance evaluation, and retroactive to the date of the employee’s the evaluation was due, employees are eligible for the following, based on Performance Evaluation scores: Total Score Addition to Base Pay 32-35 1.0% 25-31 0.5% 21-24 8 hours of merit leave (4) Regarding (b)(3) of this Section, an employee whose wage does not exceed the maximum pay rate in their grade may elect an increase to base wages or can choose an equivalent amount of merit leave for that year, e.g., in lieu of the additional 1% to base wages, 20 hours of merit leave; in lieu of the 0.5% addition to base wages, may elect 12 hours of merit leave. For employees who are paid at or near the top of their pay grade, any amount that exceeds the range maximum will be paid as a lump sum payment, or the employee can elect to take an equivalent number of hours of annual leave for that year, e.g., in lieu of the additional 1%, 20 hours of annual leave, in lieu of 0.5%, 12 hours of annual leave.
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Related to For Fiscal Year 2023

  • End of Fiscal Years; Fiscal Quarters The Borrower will cause (i) its and each of its Domestic Subsidiaries’ fiscal years to end on December 31 of each calendar year and (ii) its and each of its Domestic Subsidiaries’ fiscal quarters to end on March 31, June 30, September 30 and December 31 of each calendar year.

  • Fiscal Year; Accounting The Company's fiscal year shall be the calendar year with an ending month of December.

  • Fiscal Year The fiscal year of the Partnership shall be the calendar year.

  • Fiscal Year End Change, or permit any Subsidiary of any Borrower to change, its fiscal year end.

  • Financial Statements; Fiscal Year The Current Financials were prepared in accordance with GAAP and present fairly, in all material respects, the consolidated financial condition, results of operations, and cash flows of the Companies as of, and for the portion of the fiscal year ending on the date or dates thereof (subject only to normal audit adjustments). All material liabilities of the Companies as of the date or dates of the Current Financials are reflected therein or in the notes thereto. Except for transactions directly related to, or specifically contemplated by, the Loan Documents or disclosed in the Current Financials, no subsequent material adverse changes have occurred in the consolidated financial condition of the Companies from that shown in the Current Financials. The fiscal year of each Company ends on December 31.