Step Placement A. Employees will be compensated on a salary range consisting of seven (7) steps. The salary percentage differential for the seven (7) steps is as follows:
Initial Placement The issuance and sale by the Company of the Notes to the Initial Purchasers pursuant to the Purchase Agreement.
Credit Hours Credit hours are hours that an employee elects to work, with supervisory approval, in excess of the employees basic work requirement under a flexible work schedule. Credit hours may only be accrued under a flexible work schedule. Employees must notify their direct supervisor of their intent to earn credit hours and the duties to be performed at least four (4) hours in advance of the time. Management will respond and approve the credit hours if the work is assigned duties that could not have been performed during a normal tour of duty. Credit hours used are considered hours worked.
