Increases to salaries Clause Samples

The "Increases to salaries" clause establishes the terms under which employee salaries may be raised during the course of employment. Typically, this clause outlines the conditions, timing, and criteria for salary increases, such as performance reviews, cost-of-living adjustments, or company profitability. Its core practical function is to provide transparency and set expectations for both employer and employee regarding potential future changes in compensation, thereby reducing misunderstandings and supporting fair compensation practices.
Increases to salaries allowances and additional increments (a) The wage rates and subsequent increases to apply are those set out in Schedule J. Increases to the wage rates shall occur as follows: (i) 3% increase to wages from the first full pay period on or after 17 December 2017 (noting that increase has been paid administratively in advance of the making of this Agreement). (ii) Four further annual wage adjustments of 3.5% per annum effective from: (A) the first full pay period on or after 1 July 2018; (B) the first full pay period on or after 1 July 2019; (C) the first full pay period on or after 1 July 2020; (D) the first full pay period on or after 1 July 2021. (iii) Four further annual wage adjustments of 3% per annum effective from: (A) the first full pay period on or after 1 July 2022; (B) the first full pay period on or after 1 July 2023; (C) the first full pay period on or after 1 July 2024; (D) the first full pay period on or after 1 July 2025. (iv) Subject to an Employee's rate of pay being lower than the applicable Modern Award wage rate during the life of this Agreement, the rates of pay applicable to Employees will be adjusted either by the applicable annual wage increase (as set out above) or by the applicable Modern Award wage rate, whichever results in a higher rate of pay. The Modern Award rates do not vary the actual rate in Schedule J but is the rate that is applied for the period where the Modern Award rate is higher than the rate set out in this Agreement. The applicable rate will be determined by reference to the classification mapping table in Schedule I. (v) All non-salary related Allowances to be increased by 6% from the first full pay period on or after 1 July 2018 and then by 3% on 1 July each subsequent year until and including 1 July 2025 unless otherwise specified. (b) Allowances shall be as specified in Schedule J.
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Related to Increases to salaries

  • Annual Salary Executive's compensation shall consist of an annual base salary (the "Annual Salary") of one hundred fifty thousand dollars ($150,000), before all customary payroll deductions. The Annual Salary shall be reviewed, and shall be subject to change, by the Board of Directors of Employer (or the Compensation Committee thereof) at least annually while Executive is employed hereunder.

  • Changes to Compensation Notwithstanding anything contained herein to the contrary, Employee acknowledges that the Company specifically reserves the right to make changes to Employee’s compensation in its sole discretion including, but not limited to, modifying or eliminating a compensation component. The Parties agree that such changes shall be deemed effective immediately and a modification of this Agreement unless, within seven (7) days after receiving notice of such change, Employee exercises his right to terminate this Agreement without cause or for “Good Reason” as provided below in Paragraph No.

  • Payment of Salaries 5.5.1 Basis of Calculation The salaries of principals shall be paid fortnightly and the gross salary for a full pay period is calculated as 14/365ths of the annual salary rate. For broken periods the calculation is the number of days due multiplied by the annual rate and divided by 365. Gross salary comprises all salary and allowances (temporary and those paid on a regular basis).

  • Base Salary Executive will be paid an annual base salary, during the Term, in the amount set forth in Addendum A, as may be increased or decreased by Employer from time to time (“Base Salary”). The Base Salary shall be payable by Employer in regular installments in accordance with Employer’s general payroll practices (in effect from time to time). All amounts payable to Executive as compensation hereunder shall be subject to all required and customary withholding by Employer.

  • Salaries wages and other similar remuneration, other than a pension, paid by a Contracting State or a political subdivision or a local authority thereof to an individual in respect of services rendered to that State or subdivision or authority shall be taxable only in that State.