Salary Replacement Clause Samples

The Salary Replacement clause provides for the continuation of an employee's income when they are unable to work due to specific circumstances, such as illness, injury, or other qualifying events. Typically, this clause outlines the percentage of the employee's regular salary that will be paid, the duration of such payments, and any conditions or limitations that apply, such as waiting periods or coordination with other benefits like disability insurance. Its core practical function is to offer financial security to employees during periods when they cannot earn their usual wages, thereby reducing financial hardship and supporting employee well-being.
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Salary Replacement. SAP plus EI/QPIP payments will replace 70% of the basic rate of pay you have at the time you start your leave for the covered period. Proof of EI/QPIP payments must be provided. The payments are biweekly on your pay schedule and without waiting. If both parents are working for the company, they can both receive SAP benefits as long as they are sharing the government benefits. Your total SAP benefits will be reduced by any salary you earn or additional EI/QPIP benefits you may receive during your covered period. For part time employees the average basic salary earned on the 26 weeks preceding the leave is used instead of the basic rate of pay you have at the time you start your leave.
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Salary Replacement. For periods of leaves of absence without pay and with the written request of the Union, the Employer will maintain the regular biweekly pay and benefits of the Nurse. In such cases the Employer will invoice the Union at a rate of one hundred and twenty (120%) percent of the Nurse's regular rate of pay. This will normally occur within sixty (60) days of the completion of the leave of absence or otherwise as agreed between the parties. The Union shall pay the invoice within thirty (30) days of receipt of the invoice date.
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Salary Replacement. The Company will pay Stauth the sum of $▇,▇▇0,000 (the "Salary Replacement Amount"), which is the equivalent of two times Stauth's current ▇▇▇▇▇▇ ▇ase pay. This gross amount will be paid in a lump sum payment within ten (10) days after Stauth signs this ▇▇▇▇▇ment and delivers to the Company the General Release described in paragraph 7. 1. In the event of Stauth's death, a▇▇ ▇▇▇▇▇d portion of the Salary Replace- ment Amount will be paid in the same manner to his executor or personal representative, as applicable.
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Related to Salary Replacement

  • Salary Reduction A reduction in pay from one step to another, which is not below the minimum rate established for the position by the salary plan. A copy of the notice of reduction shall be sent promptly to the City Manager Department for inclusion in the employee's official personnel file.

  • Salary Sacrifice (a) Where an Employee wishes to have their pay salary sacrificed for additional superannuation, the Employer will comply with the Employee’s request without unreasonable delay and consistent with any relevant statutory requirements. (b) All entitlements and benefits contained in this Agreement will be calculated on the pre-salary sacrifice pay rate.

  • Salary Range The 20 20 - 2 0 2 1 salary range for returning teachers is $39,000 to $75,846. The 2021-2022 salary range for returning teachers is $40,500-$77,392. At the beginning of the 2022-2023 school year, the salaries of returning full-time teachers were between $40,000 and $79,346.

  • Salary Scale The salary scale applicable to Employees shall be set out hereinafter in the Wage Schedule.

  • Salary Ranges A. The salary ranges for classifications covered by this Agreement shall be those contained in Appendix D. B. No one may be hired above or below the assigned salary range for his/her classification. Employees whose salaries are above the range assigned to their classification will have their salaries frozen until the salary range increases to include their salary.