Annual and Semi-Annual Increments Sample Clauses

Annual and Semi-Annual Increments. 10.4.1 All probationary and permanent employees shall receive within-range increments effective April 1.
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Annual and Semi-Annual Increments. 10.4.1 All probationary and permanent employees shall receive annual step increments, within their band as per this article. An employee will be entitled to an annual increment only once per twelve (12) month period, except as per article 10.4.2.2. This increment shall be effective the next pay period.
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Annual and Semi-Annual Increments. 10.4.1 All probationary and permanent employees shall receive within-range increments effective on the established increment date as per Appendix “B”.
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Annual and Semi-Annual Increments. All probationary and permanentemployees shall receive within-range increments effective on the established increment date as per Appendix An employee will be entitled to the annual increment in his pay range on the employee's annual increment date provided that the employee has been authorized and has reported for work a minimum of one hundred and eighty assigned days hundred (200) working days (AS) since the employee's last increment. Employees identified in Appendix as having accelerated increments will be entitled to a semi-annual increment in the employee's pay range between Steps and and Steps and on the employee's semi-annual increment date provided that the employee has been authorized and has reported for work a minimum of one hundred (100) working days since the employee's last increment. Where an employee has not worked one hundred and eighty (180) assigned days hundred (200) or one hundred (100) working days (AS) in the appropriate increment period, whichever is applicable, prior to the employee's increment date, it shall be adjusted to the nearest first of the month upon completion of one hundred and eighty (180) assigned days hundred (200) or one hundred (100) working days (AS); the new increment date will be the nearest first of the month upon completion of the required days. Subject to Article the increment date shall be the nearest first (1st) of the month of the initial appointment date. When an employee returns to work after a leave of absence without pay, or lay-off, the employee will be credited with all service before the leave of absence or lay-off. Having achieved the required accumulation, the date upon which the increment is earned will be the new increment date. When an employee returns to work after a leave of absence without pay for Maternity, Paternity, Adoption or Guardianship purposes, the employee will be credited with all service before and during the leave of absence for the purpose of earning increments. For the purpose of Article days paid for sick leave, pressing necessity, holidays, vacation, workers' compensation, leave with pay and Union business leave shall be regarded as service. An earned day off shall be counted as a day of service. Pay on Promotion Except as described elsewhere in the Collective Agreement, on promotion, an employee’s rate of pay shall be adjusted to the minimum of the new range except that the rate will not be less than eight percent above his current salary and not more than the maximum of the ...
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Related to Annual and Semi-Annual Increments

  • Annual Increments 7.5.1 Subject to 7.5.3 all probationary, permanent, part-time and casual employees shall receive within grade step increments effective on their established increment dates, provided that the employee has reported for work a minimum of two hundred (200) days since his/her last increment adjustment.

  • ANNUAL INCREMENT (1) Staff shall be entitled to an annual increment which shall be negotiated with the Union annually.

  • Annual Increases On each anniversary of Employee's termination from employment, any remaining amounts to be paid during the next year pursuant to this Paragraph 9 shall be increased to an amount equal to one hundred ten percent (110%) of the amounts required to be paid by Employer hereunder under the provisions of this Paragraph 9 during the preceding year.

  • Anniversary Increments Employees shall advance on the wage grid on their anniversary date in the classification.

  • Proposed Annual Caps The Directors anticipate that the aggregate annual fee payable by the JV Company to Xxxx Xxx under the Renewed Sole Distributorship Agreement shall not exceed HK$12 million, HK$15 million and HK$18 million for the years ending 31 December 2019, 31 December 2020 and 31 December 2021, respectively. These annual caps have been estimated by the Directors (i) by reference to the Group’s estimated demand for supply of Products for each of the years ending 31 December 2019, 31 December 2020 and 31 December 2021, respectively, which were arrived at with reference to the annual amounts under the cooperation in the distribution of the Products in the Territories under the Sole Distributorship Agreement in each of the past three years; (ii) by reference to expected expansion on variety of Products; and (iii) on the assumption that the sourcing costs for the Products will increase at an annual inflation rate of 4%. Historical amounts For the years ended 31 December 2016, 31 December 2017 and 31 December 2018, the aggregate amounts under the cooperation in the distribution of the Products in the Territories under the Sole Distributorship Agreement are set out below: For the year ended 31 December 2016 2017 2018 HK$’000 HK$’000 HK$’000 Reasons for and benefits of entering into the Renewed Trademark Licence Agreement and the Renewed Sole Distributorship Agreement The Group is principally engaged in the business of trading of grocery food products, trading of consumables and agricultural products, property investment, provision of money lending services, one- stop value chain services and provision of financial services. The Directors are of the view that entering into the Renewed Trademark Licence Agreement and the Renewed Sole Distributorship Agreement could provide stable revenue to the grocery food business of the Group. The Directors are also of the view that the provision of the Products could create synergy effect and opportunities with the existing business of the Group and to further expand and develop its scope of business. In addition, due to the steady supply and sales of the Products in the past 3 years, transactions under the Trademark Licence Agreement and the Sole Distributorship Agreement contributed approximately 10% and approximately 13% to the revenue of the Group for each of the years ended 31 December 2016 and 31 December 2017, respectively. The Directors (including the independent non-executive Directors) are of the view that the transactions contemplated under the Renewed Trademark Licence Agreement and the Renewed Sole Distributorship Agreement were entered into on normal commercial terms, and that the terms of the Renewed Trademark Licence Agreement, the Renewed Sole Distributorship Agreement and the annual caps are fair and reasonable and in the interests of the Company and the Shareholders as a whole. None of the Directors have any material interest in the transactions contemplated under the Renewed Trademark Licence Agreement and the Renewed Sole Distributorship Agreement. Shareholding Structure of the JV Company Set out below is the shareholding structure of the JV Company as at the date of this announcement, which also illustrates the relationship between the JV Company and Xxxx Xxx arising from the Renewed Trademark Licence Agreement and the Renewed Sole Distributorship Agreement: The Company 100% 51% Maxford Wealth The JV Company Xx. Xxxx Xx. Xxx spouse 49% Renewed Sole Distributorship Agreement Renewed Trademark Licence Agreement 90% Xxxx Xxx Information on Xxxx Xxx Xxxx Xxx is a company incorporated in Hong Kong with limited liability. It is engaged in the business of, inter alia, manufacture, production and distribution and sale of various products including but not limited to the Products. GEM Listing Rules Implications As at the date of this announcement, the equity of the JV Company is held as to 51% by Xxxxxxx Xxxxxx and 49% by Xx. Xxx, Xxxx Xxx by virtue of being a 30%-controlled company held by Xx. Xxxx (the spouse of Xx. Xxx) is therefore a connected person of the Company at subsidiary level under Rule 20.06(9) of the GEM Listing Rules. The transactions contemplated under the Renewed Trademark Licence Agreement and the sale and distribution of Products contemplated under the Renewed Sole Distributorship Agreement constitute continuing connected transactions of the Company. As (i) the transactions contemplated under the Renewed Trademark Licence Agreement are conducted on better than normal commercial terms; and (ii) all the percentage ratios are less than 0.1%, the Renewed Trademark Licence Agreement and the transactions contemplated thereunder are fully exempt in accordance with Rule 20.74(1) of the GEM Listing Rules. As (i) the Renewed Sole Distributorship Agreement and the transactions contemplated thereunder constitute connected transactions between the Company and a connected person at the subsidiary level of the Company on normal commercial terms; (ii) the Board has approved the Renewed Sole Distributorship Agreement and the transactions contemplated thereunder; and (iii) the independent non- executive Directors have confirmed that the terms of the Renewed Sole Distributorship Agreement and the transactions contemplated thereunder are fair and reasonable, the Renewed Sole Distributorship Agreement and the transactions contemplated thereunder are on normal commercial terms and in the interests of the Company and the Shareholders as a whole, the Renewed Sole Distributorship Agreement and the transactions contemplated thereunder are subject to the reporting, announcement and annual review requirements but exempt from the circular, independent financial advice and shareholders’ approval requirements in accordance with Rule 20.99 of the GEM Listing Rules.

  • Salary Increments The Employer may grant an increment for meritorious service after an Employee has served for a period of twelve (12) months following the day established in Article 25.07 or twelve (12) months following the date of a change in his rate of compensation as established in Articles 25.04, 25.05, or 25.06.

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