Base Salary/CPI Increases/COLAS Sample Clauses

Base Salary/CPI Increases/COLAS. City agrees to pay Employee an annual salary of One Hundred Fifty Thousand Dollars ($150,000.00) (“Base Salary”), payable in installments at the same time that the other City employees are paid. Beginning in calendar year 2023, Employee’s Base Salary will be adjusted annually in accordance with increases, if any, in the All Urban Consumer Price Index for the San Francisco-Oakland- Hayward Area (“CPI”) but will not be decreased in the event there is any year-to-year or cumulative decrease in the CPI during the Initial Term (as defined in Section 3.5) or any subsequent one (1) year extension of this Agreement. Any increase in Employee’s Base Salary as a result of an increase to the CPI will be rounded up to the nearest dollar. Any increase in Base Salary shall be based on the April CPI, released every year in May, and shall become effective on July 1st of each year. Notwithstanding the foregoing, should the increase in the CPI be less than three percent (3%) or more than five percent (5%) in the first through fourth year of this Agreement, Employee shall receive not less than a three percent (3%) and not more than a five percent (5%) increase in Base Salary. During the fifth year of this Agreement, Employee shall receive an increase in accordance with the CPI; but not less than three percent (3%). Beginning in calendar year 2023, Employee’s Base Salary will be adjusted by annual cost of living increases (“COLAS) each July 1st as follows: • Calendar Year 2023---5% of Employee’s Base Salary • Calendar Year 2024---4% of Employee’s Base Salary • Calendar Year 2025---4% of Employee’s Base Salary • Calendar Year 2026---3% of Employee’s Base Salary In addition, Employee’s salary shall be adjusted upward as necessary to maintain a Base Salary at least five percent (5%) higher than the next highest paid City employee, with the exception of the Chief of Police. Notwithstanding the foregoing, during the first year of this Agreement, Employee’s base salary will not be adjusted upward as a result of the Fire Chief receiving a base salary which is less than five percent (5%) higher than Employee’s Base Salary.
Sample 1
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Related to Base Salary/CPI Increases/COLAS

  • Annual Salary Executive's compensation shall consist of an annual base salary (the "Annual Salary") of one hundred fifty thousand dollars ($150,000), before all customary payroll deductions. The Annual Salary shall be reviewed, and shall be subject to change, by the Board of Directors of Employer (or the Compensation Committee thereof) at least annually while Executive is employed hereunder.

  • Salary Increases The Employer agrees to pay the negotiated salary increases to every employee not later than the month following the month in which this Agreement is signed and not later than the month following the month in which any subsequent salary increases become effective.

  • Base Salary The Company shall pay to the Executive an annual base salary of $200,000, payable on a monthly basis commencing on the Effective Date (as the same may be adjusted herein, the “Base Salary”). The Base Salary shall be paid in accordance with the Company’s payroll policies.

  • Salary Increase Effective December 1, 2015, salary rates shall be increased by 2.25%.

  • 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.

  • Annual Base Salary During the Term, Executive shall receive a base salary at a rate of $550,000 per annum (as increased from time to time, the “Annual Base Salary”), which shall be paid in accordance with the customary payroll practices of the Company. Such Annual Base Salary shall be reviewed (and may be increased, but not decreased) from time to time by the Board or an authorized committee of the Board.

  • Salary Scale The salary scale applicable to Employees shall be set out hereinafter in the Wage Schedule.

  • Base Salary and Bonus As compensation for the Executive's services under this Agreement, the Executive shall receive and the Company shall pay a weekly base salary set forth on Exhibit A. Such base salary may be increased but not decreased during the Term or Renewal Period in the Company's discretion based upon the Executive's performance and any other factors the Company deems relevant. Such base salary shall be payable in accordance with the policy then prevailing for the Company's executives. In addition to such base salary, the Executive shall be entitled during the Term or Renewal Period to a performance bonus set forth on Exhibit A and to participate in and receive payments from, at the Company's election, other bonus and other incentive compensation plans, if any, as may be adopted by the Company.

  • Benefit Increases Benefit payments may be increased as provided in Section 2.1.3.

  • Salary No salary will be paid to a Member for the performance of his or her duties under this Agreement unless the salary has been approved in writing by a Majority of the Members.

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