Common use of Basic Annual Salary Clause in Contracts

Basic Annual Salary. For those grades and steps in effect during the term of the 2001 Agreement, the basic annual salary schedules, with proportional application to hourly rate employees, for those employees covered under the terms and conditions of this Agreement shall be increased as follows: Effective November 25, 2006—the basic annual salary for each grade and step shall be increased by an amount equal to 1.4% of the basic annual salary for the grade and step in effect as of November 24, 2006. Effective November 24, 2007—the basic annual salary for each grade and step shall be increased by an amount equal to 1.8% of the basic annual salary for the grade and step in effect as of November 24, 2006. Effective November 22, 2008—the basic annual salary for each grade and step shall be increased by an amount equal to 1.9% of the basic annual salary for the grade and step in effect as of November 24, 2006. Effective November 21, 2009—the basic annual salary for each grade and step shall be increased by an amount equal to 1.9% of the basic annual salary for the grade and step in effect as of November 24, 2006. Effective November 20, 2010—the basic annual salary for each grade and step shall be increased by an amount equal to 1.85% of the basic annual salary for the grade and step in effect as of November 24, 2006.