MINIMUM PAYMENT RATE Clause Samples

MINIMUM PAYMENT RATE. TRAINEES 1 March 2020 DKK/month 1 March 2021 DKK/month 1 March2022DKK/month 1st year 11,422.00 11,616.00 11,814.00 2nd year 12,732.00 12,948.00 13,168.00 3rd year 14,008.00 14,246.00 14,488.00 4th year 15,176.00 15,434.00 15,696.00 The specified wage rates are minimum payment rates, and higher rates may be agreed individually. Remuneration for trainees on basic vocational courses follows the first-year trainee rate. Trainees who have passed the higher commercial examination programme (HHX), upper secondary school leaving certificate, higher preparatory examination (HF) or higher technical examination programme (HTX) before the start of training are paid a supplement to the aforementioned wages, as follows: 1 March 2022 DKK 960.00/month Trainees who have passed the upper secondary school leaving certificate or higher technical examination programme (HTX) and who enter into a training agreement with a enterprise before they have completed their 18-week placement at business college, cf. section 4 of the current Executive Orders on Education and Training, are entitled to the applicable trainee wage from the time at which the training agreement takes effect. For the first and second years, trainee office services and customer contact centre staff are paid in accordance with the trainee rates set out in the office and warehouse workers’ collective agreement. Trainees who, before the start of training, have completed level 1 or 2 of the commercial examination foundation course (HG 1 or HG 2), will be paid at the trainee rate for the second year. If a training agreement is set to be completed in less than four years, the number of wage rates is reduced accordingly so that the last rates are applicable. If a training agreement is entered into for e.g. three years and six months, the first six months are paid at the first rate and the remaining years at the second, third and fourth rate respectively. If a training agreement has been entered into as a partial qualification course from a full apprenticeship, cf. the Executive Orders on Education and Training, the trainee is paid in accordance with the trainee wage rates shown in this section. Trainees are placed on trainee wage rates without any deduction, so trainees finish their training on the pay grade corresponding to the total length of the partial qualification course. For trainees who do not pass the final examination, the training agreement may be extended until a new professional examination can be held. If...
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Related to MINIMUM PAYMENT RATE

  • Minimum Payment Overtime worked on a Saturday or Sunday will be paid for at the rate of double Ordinary Rates. Employees required to work on a Saturday or Sunday will be afforded a minimum 4 hours work, or be paid as if for 4 hours at the aforementioned overtime rates.

  • Minimum Payments (a) Where the employee is under 45 years of age, the employer shall pay the employee Less than 1 year Nil 1 year and less than 2 years 4 weeks pay 2 years and less than 3 years 7 weeks pay 3 years and less than 4 years 10 weeks pay 4 years and less than 5 years 12 weeks pay 5 years and less than 6 years 14 weeks pay 6 years and over 16 weeks pay. (b) Where the employee is 45 years of age or over, the employer shall pay the employee in accordance with the following scale: Less than 1 year Nil 1 year and less than 2 years 5 weeks pay 2 years and less than 3 years 8.75 weeks pay 3 years and less than 4 years 12.5 weeks pay 4 years and less than 5 years 15 weeks pay 5 years and less than 6 years 17.5 weeks pay 6 years and over 20 weeks pay

  • Performance Adjustment Rate Except as otherwise provided in sub-paragraph (e) of this paragraph 3, the Performance Adjustment Rate is 0.02% for each percentage point (the performance of the Portfolio and the Index each being calculated to the nearest .01%) that the Portfolio's investment performance for the performance period was better or worse than the record of the Index as then constituted. The maximum performance adjustment rate is 0.20%. For purposes of calculating the performance adjustment of the portfolio, the portfolio's investment performance will be based on the performance of the retail class. The performance period will commence with the first day of the first full month following the retail class's commencement of operations. During the first eleven months of the performance period for the retail class, there will be no performance adjustment. Starting with the twelfth month of the performance period, the performance adjustment will take effect. Following the twelfth month a new month will be added to the performance period until the performance period equals 36 months. Thereafter the performance period will consist of the current month plus the previous 35 months. The Portfolio's investment performance will be measured by comparing (i) the opening net asset value of one share of the retail class of the Portfolio on the first business day of the performance period with (ii) the closing net asset value of one share of the retail class of the Portfolio as of the last business day of such period. In computing the investment performance of the retail class of the Portfolio and the investment record of the Index, distributions of realized capital gains, the value of capital gains taxes per share paid or payable on undistributed realized long-term capital gains accumulated to the end of such period and dividends paid out of investment income on the part of the Portfolio, and all cash distributions of the securities included in the Index, will be treated as reinvested in accordance with Rule 205-1 or any other applicable rules under the Investment Advisers Act of 1940, as the same from time to time may be amended.

  • Maximum or Minimum Interest Rate If specified on the face hereof, this Note may have either or both of a Maximum Interest Rate or a Minimum Interest Rate. If a Maximum Interest Rate is so designated, the interest rate for a Floating Rate Note cannot ever exceed such Maximum Interest Rate and in the event that the interest rate on any Interest Reset Date would exceed such Maximum Interest Rate (as if no Maximum Interest Rate were in effect) then the interest rate on such Interest Reset Date shall be the Maximum Interest Rate. If a Minimum Interest Rate is so designated, the interest rate for a Floating Rate Note cannot ever be less than such Minimum Interest Rate and in the event that the interest rate on any Interest Reset Date would be less than such Minimum Interest Rate (as if no Minimum Interest Rate were in effect) then the interest rate on such Interest Reset Date shall be the Minimum Interest Rate. Notwithstanding anything to the contrary contained herein, the interest rate on a Floating Rate Note shall not exceed the maximum interest rate permitted by applicable law.

  • Minimum Monthly Rent Tenant shall pay minimum monthly rent (“Minimum Monthly Rent”) in the initial amount stated in Section 1.5. The Minimum Monthly Rent shall be increased as set forth in Section 1.5 and/or elsewhere in this Lease. Tenant shall pay the Minimum Monthly Rent on or before the first day of each calendar month, in advance, at the office of Landlord or at such other place designated by Landlord, without deduction, offset or prior demand. If the Commencement Date is not the first day of a calendar month, the rent for the partial month at the beginning of the Lease Term shall be prorated on a per diem basis and shall be due on the first day of such partial month. Upon execution of this Lease, and before the Commencement Date, Tenant shall pay to Landlord the aggregate of the first month’s Minimum Monthly Rent, the first month’s Monthly Impound Payment (see Section 4.4), and the Security Deposit (see Section 5).