SALARY INCREASES AND SALARY PAYMENTS Clause Samples

SALARY INCREASES AND SALARY PAYMENTS. 28.1 Annual Salary Increases Already Provided. The annual salary increases for the 2003-04, 2004-05, and 2005-2006 academic years, as described in Sections 28.2, 28.3, and 28.4 below, are provided for eligible in-unit faculty members, in addition to the following increases and bonuses which have already been provided: (a) The Legislatively mandated salary increase which was effective December 1, 2003 (approximately 2.0%), (b) The rank promotion increases which were effective August 6, 2003, August 9, 2004, and August 8, 2005, and (c) The $1,000 lump-sum bonus which was effective December 1, 2004. 28.2 2003-04 Annual Salary Increases. Eligible employees shall be provided merit pay increases, market equity/compression pay increases, and inversion pay increases retroactive to December 1, 2003 under the terms set forth in this section. (a) Departmental Merit Salary Increases. (1) A total of $237,908.89 shall be provided to fund 2003-04 Departmental Merit salary increases. These increases are effective retroactive to December 1, 2003.
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SALARY INCREASES AND SALARY PAYMENTS. 28.1 2010-11 Annual Salary Increases. Eligible employees shall be provided with the following annual salary increases from funds equal to approximately three percent (3%) of the March 31, 2010 base salary rate of in-unit faculty members ($891,709.13)(―the Pool‖). These increases are effective August 7, 2010. (a) Across-the-Board Increase. (1) Approximately $395,391.45 of the Pool will be used to provide across the board base salary increases. From this sum, each eligible full-time faculty member shall be provided a 1.5 percent increase on his/her March 31, 2010, base rate of pay.
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Related to SALARY INCREASES AND SALARY PAYMENTS

  • Salary Increases The Employer agrees to pay the negotiated salary increases to every employee not later than the month following the month in which this Agreement is signed and not later than the month following the month in which any subsequent salary increases become effective.

  • Salary Increase All State salary increases or reductions provided to the district during this contract will be provided to all employees.

  • Salary Payments Salaries shall be paid fortnightly by direct credit to the employee’s nominated bank account except that individual employees may on religious or ethical grounds apply in writing to the Secretary for Education to be paid by cheque.

  • Salary Increments The Employer may grant an increment for meritorious service after an Employee has served for a period of twelve (12) months following the day established in Article 25.07 or twelve (12) months following the date of a change in his rate of compensation as established in Articles 25.04, 25.05, or 25.06.

  • Salary Payment In consideration of Executive’s timely execution and non-revocation of the Release by the Release Deadline Date, the Company shall pay Executive a severance payment equal to Executive’s Monthly Base Salary multiplied by the number of months in the Covered Termination Severance Period, less applicable withholdings. The severance payment shall be payable (except as set forth in Article 5) in a lump sum on the first regularly-scheduled payroll date occurring on or after the Release Deadline Date.