Rate Type of Compensation Sample Clauses

The RATE/TYPE OF COMPENSATION clause defines how and in what form payment will be made for services or work performed under the agreement. It specifies whether compensation will be hourly, salaried, commission-based, or another structure, and may outline payment schedules, rates, or conditions for bonuses. This clause ensures both parties have a clear understanding of financial expectations, reducing the risk of disputes over payment terms.
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Rate Type of Compensation. Section 13.1 Hourly Rate of Compensation The hourly rate of compensation to be used in compensation calculations for a particular pay period shall be based on the total number of hours the employee is scheduled to work, as referenced in Article 23, per year at the time divided into the employee's annual base salary.
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Rate Type of Compensation 
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Related to Rate Type of Compensation

  • Rate of Compensation In lieu of direct compensation for all overtime, shift work and standby (as defined in Articles 16, 17 and 18 of this Agreement), regular full-time employees shall receive a special compensation of 7% of their basic salary earned for each calendar year. This special compensation shall not be considered part of the employee's basic salary for the purpose of calculating any benefits or other premium entitlements.

  • Holiday Compensation Compensation for each paid holiday day not taken out is 4.6 % of the current monthly salary and holiday supplement according to 9.4.1 and 9.4.

  • Form of Compensation Compensation for overtime shall be paid except where, upon request of the Employee, and with the approval of the Employer, or its representative, overtime may be granted in the form of time off in lieu of overtime hours worked.

  • Payment of Compensation Consultant shall submit to City a monthly itemized statement which indicates work completed and hours of Services rendered by Consultant. The statement shall describe the amount of Services and supplies provided since the initial commencement date, or since the start of the subsequent billing periods, as appropriate, through the date of the statement. City shall, within 30 days of receiving such statement, review the statement and pay all approved charges thereon.

  • Vacation Leave Accrual Rate Schedule Full Years of Service Hours Per Year