How Pay is Calculated Clause Samples

How Pay is Calculated. 7.3.1 Unit members will receive their annual salary divided into twelve (12) equal payments. 7.3.2 Below is an example of a payroll calculation for a three (3) hour/day Site Food Service worker. The number of workdays in year 182.00 Number of paid holidays in year 13.00 Number of paid vacation days in year 8.33(increases with seniority in district) Total number of paid days in year 203.33 Number of hours worked per day x 3.00 (example only, assignment will vary) Total number of paid hours in year 609.99 Paid hours per month 610 ÷ 12 = 50.83
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How Pay is Calculated. 7.3.1 Unit members will receive their annual salary divided into twelve (12) equal payments. 7.3.2 Below is an example of a payroll calculation for a three (3) hour/day Site Food Service worker. The number of workdays in year 185.00 Number of paid holidays in year 13.00 Number of paid vacation days in year 8.33(increases with seniority in district) Total number of paid days in year 206.33 Number of hours worked per day x 3.00 (example only, assignment will vary) Total number of paid hours in year 618.99 Paid hours per month 619 ÷ 12 = 51.583 7.3.3 This monthly amount is then multiplied by the hourly rate of pay to arrive at the amount of the gross monthly earnings. In the example above, if the employee earns $15.22 an hour, her/his gross earnings would be $785.09 (619 hours divided by 12 months = 51.58 hours per month x $15.22 per hour).
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Related to How Pay is Calculated

  • INTEREST RATE NOT ASCERTAINABLE, ETC In the event that the Administrative Agent shall have determined (which determination shall be made in good faith and, absent manifest error, shall be final, conclusive and binding upon all parties) that on any date for determining LIBOR for any Interest Period, by reason of any changes arising after the date of this Agreement affecting the London interbank market, or the Administrative Agent's position in such market, adequate and fair means do not exist for ascertaining the applicable interest rate on the basis provided for in the definition of LIBOR then, and in any such event, the Administrative Agent shall forthwith give notice (by telephone confirmed in writing) to Borrower and to the Lenders, of such determination and a summary of the basis for such determination. Until the Administrative Agent notifies Borrower that the circumstances giving rise to the suspension described herein no longer exist, the obligations of the Lenders to make or permit portions of the Loans to remain outstanding past the last day of the then current Interest Periods as Eurodollar Advances shall be suspended, and such affected Advances shall bear interest at the Base Rate (or at such other rate of interest per annum as Borrower and each of the Administrative Agent and the Lenders shall have agreed to in writing).

  • Interest on Term Loans The outstanding principal amount of each Term Loan made by each Lender shall bear interest at a fluctuating rate per annum that shall at all times be equal to (i) during such periods as such Term Loan is a Base Rate Loan, the Base Rate plus the Applicable Margin in effect from time to time, and (ii) during such periods as such Term Loan is a Eurodollar Loan, the relevant Adjusted Eurodollar Rate for such Eurodollar Loan for the applicable Interest Period plus the Applicable Margin in effect from time to time.

  • Selection Under a Fixed Budget Services for assignments which the Association agrees meet the requirements of paragraph 3.5 of the Consultant Guidelines may be procured under contracts awarded on the basis of a Fixed Budget in accordance with the provisions of paragraphs 3.1 and 3.5 of the Consultant Guidelines.

  • Borrower Information Used to Determine Applicable Interest Rates The parties understand that the applicable interest rate for the Obligations and certain fees set forth herein may be determined and/or adjusted from time to time based upon certain financial ratios and/or other information to be provided or certified to the Lenders by the Borrower (the “Borrower Information”). If it is subsequently determined that any such Borrower Information was incorrect (for whatever reason, including without limitation because of a subsequent restatement of earnings by the Borrower) at the time it was delivered to the Administrative Agent, and if the applicable interest rate or fees calculated for any period were lower than they should have been had the correct information been timely provided, then, such interest rate and such fees for such period shall be automatically recalculated using correct Borrower Information. The Administrative Agent shall promptly notify the Borrower in writing of any additional interest and fees due because of such recalculation, and the Borrower shall pay such additional interest or fees due to the Administrative Agent, for the account of each Lender, within five (5) Business Days of receipt of such written notice. Any recalculation of interest or fees required by this provision shall survive the termination of this Agreement, and this provision shall not in any way limit any of the Administrative Agent’s, the Issuing Bank’s, or any Lender’s other rights under this Agreement.

  • Interest Rates Payments and Calculations (a) Interest Rates. From the Effective Date, all Obligations charged to the Loan Account with respect to the Loans shall, subject to Section 2.5(c)(ii), bear interest payable in cash on the Outstanding Amount at a rate per annum equal to ABR plus the Applicable Margin and shall be payable in accordance with Section 2.5(c).