Additional Salary. In addition to the compensation described above, (i) so long as the promissory note (the "Note") of the Executive attached hereto as EXHIBIT A, and as previously extended, is not due and payable in full, the Executive shall receive additional compensation at an initial rate of Thirty-five Thousand Dollars ($35,000) per annum during the Term, payable (A) at the time the Bonus is payable hereunder, (B) if no Bonus is payable hereunder, at the time the Board determines that no Bonus is payable hereunder or (C) if payment of principal of and interest on the Note is accelerated, at the time of the Executive's payment in full of the Note; provided, however, that to the extent the Note is prepaid, the rate set forth above shall be decreased by the amount by which interest on the Note has been reduced as a result of such prepayment and (ii) the Executive shall also receive an additional $18,500 per annum during the Term, payable at the time the first monthly installment of Base Salary is payable hereunder and on each anniversary thereafter (all such payments set forth in clauses (i) and (ii) above are referred to herein as the "Additional Salary").
Additional Salary. 1. The Base Salary of an employee shall be increased by $1,000 upon the completion of his/her second advanced degree in an education related field (master’s, specialist’s, or doctorate) or National Board Certification including those whose position does not require a teaching certificate. It is the responsibility of the teacher to notify the Superintendent and submit proof of their degree or certification 2 weeks prior to the first day of school or two weeks prior to the first day of the second semester. Acceptable proof of degree attainment includes a diploma, transcripts listing degree attainment, or an official letter stating the attainment of the degree from the degree granting institution. Official transcripts listing degree attainment or a diploma must be provided to the Superintendent during the semester the teacher received the initial increase. For teachers who submit their paperwork at the beginning of the second semester, this pay will be prorated. Each employee can only recognize one such increase during his/her employment with the Board. A Teacher who is recognized for such a degree at the time his/her initial Base Salary is determined shall be considered to have earned their second advanced degree increase.
Additional Salary. (a) During the period that the Executive serves the Company under this Agreement, the Company will pay the Executive additional salary of up to eighty percent (80%) of the Base Salary as given in clause 5.2 and which may be increased from time to time payable by 15 November following the end of each financial year, the first payment being on a pro-rata basis in calendar year 2002.
Additional Salary. (i) In addition to the base salary, the Executive shall be paid an additional salary (the "Additional Salary") subject to and in accordance with the provisions of this Section 2.1(b). Net Income of the Employer shall be determined for each of the following periods (each a "Period"): (1) the Effective Date through December 31, 2003, (2) January 1, 2004 through December 31, 2004, (3) January 1, 2005 through December 31, 2005, and (4) each succeeding calendar year during the term hereof. If Net Income of the Employer for any Period shall be positive then promptly after the calculation of such Net Income of the Employer for such Period, the Executive will be paid compensation as Additional Salary equal to $55,000, provided that (1) with respect to the first Period and the last Period (if it consists of less than 12 months) said amount of $55,000 will be prorated, (2) commencing with calendar year 2008 said amount of $55,000 will increase 5% per annum and (3) if (I) Net Income of the Employer for the Period ending December 31, 2003 is not positive and/or Net Income of the Employer for the Period ending December 31, 2004 is not positive and/or due to the provisions of Section 2.1(b)(ii) the Executive does not receive the full Additional Salary for one or both of said first two Periods and (II) the Net Income for the Period ending December 31, 2005 is positive, then in addition to the Additional Salary payable for the Period ending December 31, 2005, the Executive will also be entitled to receive Additional Salary for such prior Period(s) when Net Income of the Company was not positive or was insufficient to pay the total Additional Salary, subject, however to the provisions of Section 2.1(b)(ii) below. As used herein, the term "Net Income of the Employer" shall mean net income of the Employer (A) before acquisition debt service, but after debt service incurred in the ordinary course of business for operating expenses (whether a term or revolving facility); (B) before federal, state and local taxes, amortization, depreciation and other non-cash expenses, (C) without including extraordinary non-recurring expenses (including without limitation, severance payments to employees and one time extraordinary charges) and (D) after deducting a management fee to Ascend Retail Investment LLC in amount of $1,000,000.
Additional Salary. 1. A $1,000 allowance will be granted if a second master’s degree in a related field, or a specialist’s degree is earned. A $1000 allowance will be granted to anyone who holds a National Board Certification.
Additional Salary. 1. For each additional month a teacher may be employed, he/she shall be paid at the rate of 10% of base salary for each month.
Additional Salary. 2. Any costs of benefits selected in excess of the amount in Section A, the employee's flexible spending account, shall be borne by the employee through salary reduction of the employee's regular salary.
Additional Salary. In addition to the compensation described above, the Executive shall also receive an additional Eighteen Thousand Five Hundred Dollars ($18,500) per annum during the Term, payable at the time the first monthly installment of Base Salary is payable hereunder and on each anniversary thereafter (all such payments are referred to herein as “Additional Salary”).
Additional Salary. Any cost of health insurance selected in excess of the above amounts in 2021-2022 in the employee's flexible benefit (if eligible) or the District contribution shall be borne by the employee through salary reduction of the employee's regular salary. Any cost of other benefits selected shall be solely borne by the employee through salary reduction of the employee’s regular salary. Except as otherwise stipulated in this Agreement, an employee is eligible for the flexible benefit provided by the District as long as the employee is employed by the District. Elected health insurance coverage for an employee who terminates employment continues until the end of the period for which the employee has contributed premiums by salary reduction. The flexible benefit shall be prorated to the date of termination. An employee on paid leave shall continue to be eligible for the travel accident, long- term disability, group term life insurance, and the flexible benefit provided by the District. An employee on unpaid leave for one (1) calendar month or longer shall have elected insurance coverage continue until the end of the period for which the employee has contributed premiums by salary reduction. The flexible benefit shall be prorated to the date the leave commences.
Additional Salary. In addition to the Base Salary, the Company shall pay the Executive an additional salary during the first year of the Term of fifty thousand dollars ($50,000.00) (the "Additional Salary") payable in one lump sum payment on the first anniversary of the date of this Agreement, provided the Executive is employed by the Company on such first anniversary.
