Merit Pool Increase Sample Clauses

Merit Pool Increase. A. Effective October 1, 2014, a merit pool equivalent to 2.75% of the eligible employees’ annualized wages will be established for distribution. 1. The minimum salary levels will be increased by 5.0% (reflected in table above) B. Effective October 1, 2015, a merit pool equivalent to 2.25% of the eligible employees’ annualized wages will be established for distribution. 1. The minimum salary levels will be increased by 2.0% (reflected in table above) C. Effective October 1, 2016, a merit pool equivalent to 2.0% of the eligible employees’ annualized wages will be established for distribution. 1. The minimum salary levels will be increased by 2.0% (reflected in table above) D. Effective October 1, 2017, a merit pool equivalent to 2.0% of the eligible employees’ annualized wages will be established for distribution. 1. The minimum salary levels will be increased by 2.0% (reflected in table above)
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Related to Merit Pool Increase

  • Step Increases (a) The following is the method used to determine service credit, since the last date of hire, for purposes of positioning on the salary range: i) all continuous service shall be retained and transferred with the employee if she/he changes her/his status from full-time to part- time and vice versa. ii) a part-time employee who changes status to full-time will be given credit on the basis of fifteen hundred (1500) paid hours of part- time being equivalent to one (1) year of full-time service and vice versa. iii) in addition, an employee who is so transferred will be given credit for paid hours accumulated since the date of last advancement. (b) Annual increments for full-time employees shall be paid on their anniversary date. (c) Annual increments for part-time employees shall be paid on the completion of each fifteen hundred (1500) hours worked.

  • Merit Increases Merit increases shall be based on satisfactory service. Employees shall be eligible for in-range merit increases on their established anniversary date until such time they have reached the top step of the classification in which they are employed. The eligibility date, for the purpose of this section, shall be the date upon which the employees are granted their first in-range merit increase to the next step of their pay range. This eligibility date may be changed as a result of the timing of future in-range merit increases, promotions or reclassifications.

  • Funding Increases Before the Funder can make an allocation of additional funds to the HSP, the parties will: (1) agree on the amount of the increase; (2) agree on any terms and conditions that will apply to the increase; and (3) execute an amendment to this Agreement that reflects the agreement reached.

  • Annual Increases On each anniversary of Employee's termination from employment, any remaining amounts to be paid during the next year pursuant to this Paragraph 9 shall be increased to an amount equal to one hundred ten percent (110%) of the amounts required to be paid by Employer hereunder under the provisions of this Paragraph 9 during the preceding year.

  • Fee Reduction The Adviser agrees that from the commencement of operations of the Fund through January 31, 2020, it will reduce its compensation and/or reimburse certain expenses for the Fund, to the extent necessary to ensure that the Fund’s total operating expenses, excluding taxes, “Acquired Fund” fees and expenses, dividend and interest expense on securities sold short, interest, extraordinary items, and brokerage commissions, do not exceed (on an annual basis) 1.15%, as a percentage of the Fund’s average daily net assets.