Base Rates After Reclassifications Sample Clauses

Base Rates After Reclassifications. Subject to the base rate ranges provided for in Section 6.2(a), employees who are promoted will have their base rate increased by fifty-sixseventy-five (5675) cents for each labor grade they are promoted or paid the same base rate last held by the employee in the labor grade, whichever is greater. Employees who are downgraded will have their base rate decreased by fifty-six (56) cents for each labor grade they are downgraded.
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Base Rates After Reclassifications. Subject to the base rate ranges provided for in Section 5.2(B), employees who are promoted will have their base rate increased by fifty-six (56) cents for each I-Code they are promoted or decreased by fifty-six (56) cents for each I-Code the employee is downgraded. All base rate changes are subject to wage range maximums. Employees promoted to an I-code they previously held will receive a minimum rate increase sufficient to bring the employee’s hourly rate equal to the same hourly rate they previously held or fifty-six (56) cents per I-Code, whichever is greater. Any employee being downgraded who is in progression will be automatically considered to be at the mid-point of progression towards their next progression increase.
Sample 1

Related to Base Rates After Reclassifications

  • Reclassification of Position An employee shall not have her salary reduced by reason of a change in the classification of her position that is caused other than by the employee herself.

  • Classification and Reclassification It is understood and agreed that any Lien, sale, lease or other disposition of assets, Dividend, Indebtedness, Investment, transaction with Affiliates or prepayment of Indebtedness need not be permitted solely by reference to one category of permitted Lien, sale, lease or other disposition of assets, Dividend, Indebtedness, Investment, transactions with Affiliates or prepayment of Indebtedness under Sections 10.01, 10.02, 10.03, 10.04, 10.05, 10.06 and 10.07, respectively, but may instead be permitted in part under any combination thereof (it being understood that Borrower may utilize amounts under any category that is subject to any financial ratio or test, including the Consolidated Fixed Charge Coverage Ratio, Consolidated First Lien Net Leverage Ratio, Consolidated Secured Net Leverage Ratio or Consolidated Total Net Leverage Ratio, prior to amounts under any other category). For purposes of determining compliance at any time with Sections 10.01, 10.02, 10.03, 10.04, 10.05, 10.06 and 10.07, in the event that any Lien, sale, lease or other disposition of assets, Dividend, Indebtedness, Investment, transaction with Affiliates or prepayment of Indebtedness meets the criteria of more than one of the categories of transactions or items permitted pursuant to any clause of such Sections 10.01, 10.02, 10.03, 10.04, 10.05, 10.06 and 10.07, Borrower, in its sole discretion, may, from time to time, classify or reclassify such transaction or item (or portion thereof) and will only be required to include the amount and type of such transaction (or portion thereof) in any one category. Reclassifications of any utilization of the Incremental Amount shall occur automatically to the extent set forth in the definition thereof.

  • Reclassifications A reclassification of the Common Stock (other than any such reclassification in connection with a merger or consolidation to which Section 9(e) applies) into shares of any other class of stock shall be deemed: (i) a distribution by the Company to the holders of its Common Stock of such shares of such other class of stock for the purposes and within the meaning of this Section 9; and (ii) if the outstanding shares of Common Stock shall be changed into a larger or smaller number of shares of Common Stock as part of such reclassification, such change shall be deemed a subdivision or combination, as the case may be, of the outstanding shares of Common Stock for the purposes and within the meaning of Section 9(b).

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