2018 Compensation Sample Clauses

2018 Compensation. In lieu of application of the negotiated compensation formula, eligible employees will be paid a step increase for the 2017-2018 school year, retroactive to the beginning of the work year. (2016-2017 1% base scale increase is maintained. BA Step 1 salary is $40,326). ∗ 2018-2019 & 2019-2020 Compensation: Current compensation formula will continue in the two-year extension (2018- 2019 and 2019-2020 school years) with the following addition(s): ~ 100% of the district’s Kent County enhancement millage revenue will be included in the 2018-2019 and 2019-2020 compensation formulas. ~ Bargaining unit employees who receive an Ineffective rating in 2017-2018 or 2018-2019 shall not receive the increases, if any, that the compensation formula provides. Total Impact (Lower) Total Impact (Upper) Change in Compensation Lower ($454,694) 2% reduction to base scale ($454,693) ($227,347) 1% reduction to base scale ($227,346) ($56,000) Freeze: Grad Study/3rd personal day, 403(b) match ($55,999) ($37,000) Freeze: Grad Study/3rd personal day ($36,999) ($18,500) Freeze: Grad Study Subsidy ($18,499) $227,346 No Change $227,347 $431,353 1% increase on base scale $431,354 $662,762 One step increment $662,763 $894,171 1% increase on scale + one step $894,172 $1,069,582 2% increase on scale + one step $1,069,583 $1,305,019 1% increase on scale + 2 steps $1,305,020 $1,397,738 2% increase on scale + 2 steps $1,397,739 $1,515,456 2.5% increase on scale + 2 steps $1,515,457 $1,625,084 3% increase on scale + 2 steps $1,625,085 $2,056,438 3% increase on scale + 3 steps If the formula is greater than $2,056,438, then there will be a financial re-opener. State Revenue: Baseline Figures Student FTE: 2,940 Foundation Allowance: $7,628 Section 147(a): $78 Section 20(f): $12 Total Per-Student Funding: $7,718 Total Unrestricted State Funding $22,690,920 Section 31(a) At Risk $73,006 Total State Funding: $22,763,926 Annual Per-Member Health Care Costs: Single (14.6 members) $5,992.30 Two-Person (15.0 members) $12,531.75 Family: (113.8 members) $16,342.66 Cash in Lieu $74,800.00 Total Health Care Costs: $2,210,058.54 MPSERS Contribution Rate (MIP Graded): 25.78% Total Salaries: $10,923,498 SCHEDULE OF EXTRA-DUTY ASSIGNMENTS APPENDIX B I. ATHLETIC COACHING Coaches will be placed on the following schedule based upon their experience in coaching in the East Grand Rapids school system. All percentages are applied to the salary for the first step of the B.A. degree for the applicable contract year.
Sample 1
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2018 Compensation. Subject to Section 1.04, the Manager shall be solely responsible for the payment of all compensation payable to the Offer Employees with respect to the period prior to the Effective Date, whether payable prior to or following the Effective Date; provided that the payment by the Manager of all bonus compensation relating to the calendar year 2018 (both cash and the value of any equity awards that would otherwise be granted) will be conditioned on the execution of the Separation Agreement by the applicable Offer Employee.
Sample 1

Related to 2018 Compensation

  • Basic Compensation (a) SALARY. Executive will be paid an annual base salary of $115,000.00, subject to adjustment as provided below (the "Salary"), which will be payable in equal periodic installments according to Employer's customary payroll practices, but no less frequently than monthly. The Salary will be reviewed by the Board of Directors not less frequently than annually, and shall be increased on each anniversary of the Effective Date during the term hereof by an amount equal to not less than ten percent (10%) of the prior year's base salary.

  • Bonus Compensation The Executive shall not receive any bonus payment whatsoever pursuant to Section 3.02 or the Bonus Plan except such bonus which is already earned and due to be paid up to and including the Termination Date, notwithstanding any period following the Termination Date during which the Executive may receive any payments or benefits under the terms of the Agreement.

  • Annual Bonus Compensation In addition to your Salary, during the Employment Term you shall be eligible to earn an annual bonus for each whole or partial calendar year during the Employment Term, determined and payable as follows (the “Bonus”):

  • Base Salary and Incentive Compensation Executive’s initial annual base salary shall be three hundred nine thousand dollars ($309,000). Executive’s base salary shall be redetermined annually by the Board or a Committee thereof. The base salary in effect at any given time is referred to herein as “Base Salary.” The Base Salary shall be payable in substantially equal installments on a bi-weekly or more frequent basis. In addition to Base Salary, Executive shall be eligible to receive cash incentive compensation as determined by the Board or a Committee thereof from time to time, and shall also be eligible to participate in such incentive compensation plans as the Board or a Committee thereof shall determine from time to time for employees of the same status within the hierarchy of the Company.

  • Compensation Benefits In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.

  • Annual Compensation The Executive’s “Annual Compensation” for purposes of determining severance payable under this Agreement shall be deemed to mean the sum of (i) the annual rate of Base Salary as of the Date of Termination, and (ii) the cash bonus, if any, earned by the Executive for the calendar year immediately preceding the year in which the Date of Termination occurs.

  • Separation Compensation In exchange for your agreement to the general release and waiver of claims and covenant not to sue set forth below and your other promises herein, the Company agrees to provide you with the following:

  • Salary Compensation As salary compensation for Employee's services hereunder and all the rights granted hereunder by Employee to the Company, the Company shall pay Employee a gross salary of not less than $175,000 during the term of this Agreement. Employee's salary shall be payable in bi-weekly increments in accordance with the Company's payroll practices for salaried employees, upon the condition that Employee fully and faithfully performs Employee's services hereunder in accordance with the terms and conditions of this Agreement. The Company shall deduct and withhold from the compensation payable to Employee hereunder any and all amounts required to be deducted or withheld by the Company under the provisions of any statute, regulation, ordinance, or order and any and all amendments hereinafter enacted requiring the withholding or deducting from compensation payable to employees.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

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