Minimum Salary definition
Examples of Minimum Salary in a sentence
The Minimum Salary shall be paid to Employee by the Corporation, subject to the terms set out below.
During the Term, the Board of Directors of Employer (the “Board”) or the Compensation Committee of the Board (the “Compensation Committee”) will review the Salary annually and may in its discretion increase the Salary, but may not reduce it during the Term unless Employer institutes salary reductions across the board; provided, however, that in no event shall the Salary be reduced below the Minimum Salary without Executive’s written consent.
The range between the Minimum Salary Rate, the Journey Level Salary Rate, and the Performance Maximum Salary Rate, shall be an “open range” with no incremental salary steps.
New hires shall be assigned to the Minimum Salary Rate which is at least three and a half percent (3.5%) less than the Journey Level Salary Rate.
The school district will make every effort to hire new full time teachers at the Minimum Salary; however, the Superintendent has the discretion to set the new hire salary at any rate within the Salary Range provided the amount does not exceed the salary of a veteran Lake Central teacher with similar experience and education credentials without prior discussion with the LCTA President.