Basic Salary For all your services rendered under this Agreement, UO shall pay you a salary at an annual rate of no less than $450,000, or at such higher salary as may be determined by your performance review and the Executive Vice President, Human Resources, Legal & Business Affairs, UPR. Such higher salary shall subsequently be deemed the annual rate, commencing on such date as the Executive Vice President, Human Resources, Legal & Business Affairs, UPR may determine, for purposes of this Agreement.
Salary Scale The salary scale applicable to Employees shall be set out hereinafter in the Wage Schedule.
Salary Payment In consideration of Executive’s timely execution and non-revocation of the Release by the Release Deadline Date, the Company shall pay Executive a severance payment equal to Executive’s Monthly Base Salary multiplied by the number of months in the Covered Termination Severance Period, less applicable withholdings. The severance payment shall be payable (except as set forth in Article 5) in a lump sum on the first regularly-scheduled payroll date occurring on or after the Release Deadline Date.
Salary Payments Salaries shall be paid fortnightly by direct credit to the employee’s nominated bank account except that individual employees may on religious or ethical grounds apply in writing to the Secretary for Education to be paid by cheque.
Salary Packaging (1) For the purposes of this Agreement, salary packaging shall mean an arrangement whereby the wage or salary benefit arising under a contract of employment is reduced, with another or other benefits to the value of the replaced salary being substituted and due to the practitioner. (2) A practitioner may, by agreement with the employer, enter into a salary packaging arrangement. (3) The employer shall not unreasonably withhold agreement to salary packaging on request from a practitioner. (4) The employer shall not require a practitioner to enter into a salary packaging arrangement, provided that this clause will not impinge on any additional employer provided benefits. (5) A salary packaging arrangement shall be formulated and operate on the basis that, on balance, there shall be no material disadvantage to the practitioner concerned, and shall be cost neutral in relation to the total employment cost to the employer. (6) A salary packaging arrangement must comply with relevant taxation laws and the employer shall not be liable for additional tax, penalties or other costs payable or which may become payable by the practitioner. (7) In the event of any increase or additional payments of tax or penalties associated with the employment of the practitioner, or the provision of employer benefits under the salary packaging agreement, such tax, penalties and any other costs shall be borne by the practitioner. (8) A practitioner may elect to cancel any salary packaging arrangement by giving a minimum of four weeks notice. (9) The employer may elect to cancel any salary packaging arrangement by giving a minimum of four weeks notice if the employer incurs a liability to pay fringe benefits tax or any other tax in respect of the non-cash benefits provided, provided that the employer cannot retrospectively cancel any salary packaging arrangement. (10) Notwithstanding subclauses (8) and (9) of this clause, the employer and the Practitioner may agree to forgo the notice period. (11) The cancellation of salary packaging will not cancel or otherwise effect the operation of this Agreement. (12) For the purposes of this provision, any penalty rate, loading or other salary related allowances which would ordinarily be calculated on the basis of the salary rates expressed in Schedule 1 Full Time Annual Base Salary Rates shall continue to be so calculated despite an election to participate in any salary packaging arrangement. (13) For the purposes of this provision, statutory 9% employer superannuation contributions shall be made on the basis of pre-packaging salary rates. To avoid doubt, employer contributions shall not be reduced as a result of a practitioner participating in salary packaging pursuant to this provision. (14) The employer may at any time vary the range of benefits provided or the conditions under which benefits are provided however the employer shall not differentiate between different class of practitioners across WA Health in terms or range of benefits or the conditions under which benefits are provided. (15) If a practitioner is found to have committed misconduct in the claiming a salary packaging benefit the employer is entitled to prospectively cease to provide some or all salary packing benefits either indefinitely or for any period determined by the employer.
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.
Salary Scales 2.5.1 Effective from 1 January 2024, and subject to the Remuneration provisions in the Terms of Settlement, a 4% increase will apply to all paid and printed rates. The following Allied Divisions shall refer to the applicable schedules for their scales: MIT, UCOL and Otago. 2.5.2 Effective from 1 January 2025, kaimahi will be translated into the following salary scale, which includes the 4% salary increase: Band Step (N/A for UCOL and TOPNZ) Scale Scale 2025 (4%) 40 hours Band Step(N/A for UCOL and TOPNZ Scale 2025 (4%) Scale 2025 (4%)
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 and Bonus Awards of stock, stock options, and stock appreciation rights. Use the dollar amount recognized for financial statement reporting purposes with respect to the fiscal year in accordance with the Statement of Financial Accounting Standards No. 123 (Revised 2004) (FAS 123R), Shared Based Payments.
Monthly Salary The words “monthly salary” when used in this Agreement shall mean: (Bi-weekly pay at regular rate of pay times 26.1) divided by 12 = monthly salary