Calculation of Salary. All calculations of salary will be based on annual salary rounded to the nearest cent using standard rounding practice. (e.g. .001 to .499 round down, .500 to .999 round up). Monthly salary will be calculated by dividing the annual base salary by twelve (12) and rounded to the nearest cent as described above. Hourly rate will be calculated by dividing the annual base salary by 2080 hours rounded to the nearest cent as described above. Prorated pay will be calculated by multiplying the annual base salary by the employee’s full-time equivalence. All changes to salary will be calculated using the annual base salary.
Appears in 4 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
