Common use of Calculation and Payment of Compensation Clause in Contracts

Calculation and Payment of Compensation. 1. The annual salary as prescribed herein shall constitute the annual rate of pay for each position provided the employee works the full contract year. The amount of compensation due for each pay period shall be determined by dividing such annual rate by the number of paychecks selected by the employee for the work year. Such amount shall represent the entitlement of the employee at the end of each pay period, provided the employee has been on duty or on eligible paid leave during each workday in the pay period and is employed for the full contractual year. The daily rate of pay will be determined by dividing the annual rate of pay by the number of days established for the position. 2.a. In the event an employee should terminate during the contract year or take a leave of absence prior to the completion of his/her contract, the total number of days the employee was on duty or on eligible paid leave will be multiplied by the employee’s daily rate of pay to determine the employee’s total contract salary. The salary paid to date will be subtracted from the total contract salary and the balance will be paid to the employee in his/her final check.

Calculation and Payment of Compensation. 1. The annual salary as prescribed herein shall constitute the annual rate of pay for each position provided the employee works the full contract year. The amount of compensation due for each pay period shall be determined by dividing such annual rate by the number of paychecks selected by the employee for the work year. Such amount shall represent the entitlement of the employee at the end of each pay period, provided the employee has been on duty or on eligible paid leave during each workday in the pay period and is employed for the full contractual year. The daily rate of pay will be determined by dividing the annual rate of pay by the number of days established for the position. 2.a2. a. In the event an employee should terminate during the contract year or take a leave of absence prior to the completion of his/her contract, the total number of days the employee was on duty or on eligible paid leave will be multiplied by the employee’s daily rate of pay to determine the employee’s total contract salary. The salary paid to date will be subtracted from the total contract salary and the balance will be paid to the employee in his/her final check.