Annual Remuneration Sample Clauses
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Annual Remuneration. (a) As a minimum, Employees shall receive Annual Remuneration in the range assigned to the WVP Score for their position in Schedule B.
(b) An Employee’s specific Annual Remuneration within that range:
(i) is at MI’s discretion and will be based on its assessment of the Employee’s competency; and
(ii) who are not yet assessed at full competency will be re-assessed by MI as part of the normal annual performance appraisal process. MI will provide sufficient mentoring and resources to support an employee to become fully competent. The timeframe taken for an Employee to reach full competency will vary from individual to individual.
(c) Employees will be notified in writing of their Annual Remuneration (and its component parts of Base Salary and Superannuation Contributions):
(i) at the time of commencement of this Agreement or at the time of employment (whichever is the latter); and
(ii) and at any point in time in which their Annual Remuneration, or its component parts, change.
Annual Remuneration. (a) Notwithstanding subclause 8.2
Annual Remuneration. (a) Notwithstanding subclause 10.1, an Employee may elect to receive his or her annual remuneration as a combination of wages (payable in accordance with this clause) and benefits payable by the Employer. The sum total of such wages, benefits, Fringe Benefits Tax and Employer administrative charge will equal the appropriate rate of pay prescribed by Clause 9 - Wage Rates.
(b) The Employer will determine the range of benefits available to the Employee and the Employee may determine the mix and level of benefits as provided in paragraph 10.2(a).
(c) Any payment calculated by reference to the Employee’s salary and payable either:
(i) during employment; or
(ii) on termination of employment; or
(iii) on death shall be at the rate prescribed by Clause 9 - Wage Rates.
Annual Remuneration. In January of the year following any calendar year in which a minimum of sixty (60) compensable and non-compensable days of leave is accrued, and each following January, any eligible academic employee upon written request shall receive remuneration for unused compensable leave accumulated in the previous calendar year at a rate equal to one (1) day's current monetary compensation for each four (4) full days of accrued leave in excess of sixty (60) compensable and non- compensable days. Leave for which compensation has been received shall be deducted from accrued leave at the rate of four (4) days for each one (1) day of monetary compensation. In any year when this option is not exercised by the employee, the compensable leave shall accumulate.
Annual Remuneration. The Annual remuneration is a periodic fixed payment paid by the Public partner to the Private partner, and calculated in accordance with the terms established in this document.
Annual Remuneration. In January of the year following any calendar year in which a minimum of sixty (60) compensable and non-compensable days of leave is accrued, and each following January, any eligible academic employee upon written request shall receive remuneration for unused compensable leave accumulated in the previous calendar year at a rate equal to one (1) day's current monetary compensation for each four (4) full days of accrued leave in excess of sixty
Annual Remuneration. (a) Notwithstanding clause 6 of this agreement, an employer may offer and a teacher may elect to receive his or her annual remuneration as a combination of salary (payable fortnightly) and benefits payable by the employer. The sum total of such salary, benefits, Fringe Benefits Tax and any day employer administrative charge will equal the appropriate salary prescribed in the said clause 6.
(b) The employer will determine the range of benefits available to the teacher and the teacher may determine the mix and level of benefits as provided in paragraph (a) of this subclause.
(c) Any other payment calculated be reference to the teachers salary and payable either:
(i) during employment; or
(ii) on termination of employment; or
(iii) on death shall be at the rate of pay as set out in clause 6 of this agreement.
Annual Remuneration. 1.1 Your salary will be £336,000 per annum (“Salary") payable two weeks in arrears and two weeks in advance in equal monthly instalments normally on the 15th day of each calendar month by credit transfer into your bank account.
1.2 Payment in respect of a period less than a month will be apportioned in proportion to the number of days worked as a proportion of the total number of working days that month.
1.3 You are entitled to participate in the Company's Flexible Benefits Plan as may be amended from time to time. The Company reserves the right to amend or vary the flexible benefits available and/or the terms of the Flexible Benefits Plan.
1.4 Your salary will be reviewed by the Company annually, typically in February during the common review cycle. Further information is contained in the Employee Handbook at section 3.5.
Annual Remuneration. (a) Not withstanding subclause 4.1 of the Award an employer may offer and a teacher may elect to receive his or her annual remuneration as a combination of salary (payable fortnightly) and additional superannuation payable by the employer to any fund identified by the Award or this agreement and nominated by the employee. The sum total of such salary and superannuation benefits and any employer administrative charge will equal the appropriate salary prescribed in sub clause 4.1 of the award.
(b) Any other payment calculated by reference to the teacher's salary and payable either:
(i) during employment; or
(ii) on termination of employment; or
(iii) on death shall be at the rate of pay as set out in Table 1 of Part B, Monetary Rates of the award.
Annual Remuneration. In January of each year, an employee whose sick leave balance at the end of the previous year exceeds four hundred eighty hours (480 hours) may elect to convert up to 12 days (84 hours) of the sick leave hours earned in the previous calendar year, minus those hours used during the year, to monetary compensation. In any year when this option is not exercised by the employee, the compensable leave shall accumulate.