COMPENSATION AND COMPENSATION MODEL Sample Clauses

COMPENSATION AND COMPENSATION MODEL. 1. The ECA schedule for 2021-2022 is set forth in Appendix “B”. 2. The Board agrees to contribute up to the amount of $4,700 to any employee who chooses to participate in a Corporation Single Health Insurance Plan or $6,550 for any employee who chooses to participate in a corporation’s Family health insurance plan. See Appendix A for insurance benefits. Teachers who are enrolled in the High Deductible plan in the 2021-2022 school year will receive a $500 one-time HSA deposit if enrolled in the HD single plan and a $1,000 one-time HSA deposit if enrolled in the HD family plan. 3. The Board will contribute $100.00 dollars a day for any unused annual days over 120 (or the teacher’s maximum amount if they were grandfathered at a higher amount) into a tax sheltered account or a teacher may sell back their unused annual days when they reach an accumulation of 60 at $80.00 a day paid into a tax sheltered account. 4. Compensation Model for 2021-2022 School Year a. NEW HIRES: New teachers who are hired for the 2021-2022 school year prior to ratification of this contract shall have their starting salary adjusted upward by $5,000. New teachers who are hired for the 2021-2022 school year shall receive compensation of a minimum of $43,220, assuming the teacher has a Bachelor’s Degree and no experience, and a minimum salary of $43,653, assuming the teacher has a Master’s Degree and no experience. The salary schedule for newly hired teachers is found in Appendix D. In the event a newly hired teacher has an additional degree beyond a Bachelor’s, and/or credit hours beyond a Bachelor’s or Master’s and/or previous teaching experience, he or she will then receive a salary in a range at the same level as current teachers possessing these same degrees and/or experience. Credit for all years of experience will be granted for teaching experience obtained at accredited schools during which time the hire held a degree in education.
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COMPENSATION AND COMPENSATION MODEL. 1. The ECA schedule for 2018-2019 is set forth in Appendix “C”. 2. For the purpose of calculating payroll deduction, effective 12-1-2005 the Board agrees to contribute up to the amount of $4,500 to any employee who chooses to participate in a Corporation Single Health Insurance Plan or $6,100 for any employee who chooses to participate in a corporation’s Family health insurance plan. See Appendix B for insurance benefits. 3. The Board will contribute $100.00 dollars a day for any unused annual days over 120 (or the teachers maximum amount if they were grandfathered at a higher amount) into a tax-sheltered account or a teacher may sell back their unused annual days when they reach an accumulation of 60 at $80.00 a day paid into a tax- sheltered account. 4. Compensation Model for 2018-2019 School Year a. NEW HIRES: New teachers who are hired for the 2018-2019 school year shall receive compensation of a minimum of $36,720.00 per year, assuming the teacher has a Bachelor’s Degree and no experience. The salary schedule for newly hired teachers is found in Appendix A. In the event a newly hired teacher has an additional degree beyond a Bachelor’s, and/or credit hours beyond a Bachelor’s or Master’s and/or previous teaching experience, he or she will then receive a salary in a range at the same level as current teachers possessing these same degrees and/or experience. Credit for all years of experience will be granted for teaching experience obtained at accredited schools during which time the hire held a degree in education.

Related to COMPENSATION AND COMPENSATION MODEL

  • Fees and Compensation Managers and Officers may receive such compensation and fees, if any, for their services, and such reimbursement for expenses, as may be determined by resolution of the Board.

  • Services and Compensation Consultant shall perform the services described in Exhibit A (the “Services”) for the Company (or its designee), and the Company agrees to pay Consultant the compensation described in Exhibit A for Consultant’s performance of the Services.

  • Compensation and Fringe Benefits (a) The Company shall, during the Term of Employment, pay to the Executive as compensation for the performance of his duties and obligations a salary of $240,000 per annum. This compensation is subject to annual review and adjustment, as appropriate in the judgment of the Company. The compensation payable pursuant to this Section 5(a) shall be payable in equal semi-monthly installments on the last day of each such pay period. (b) The Executive shall be enrolled and participate in any retirement, group insurance and other fringe benefit plans and arrangements which are applicable to the similarly situated personnel of the Company and in effect from time to time, if the Executive is eligible therefor, in each case in accordance with and subject to the provisions thereof.

  • Compensation Benefits In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.

  • COMPENSATION OF ULTIMUS The Trust, on behalf of each Fund, shall pay for the services to be provided by Ultimus under this Agreement in accordance with, and in the manner set forth in, Schedule B attached hereto, as such Schedule may be amended from time to time. If this Agreement becomes effective subsequent to the first day of a month or terminates before the last day of a month, Ultimus’ compensation for that part of the month in which the Agreement is in effect shall be prorated in a manner consistent with the calculation of the fees as set forth above. Payment of Ultimus’ compensation for the preceding month shall be made promptly.

  • Other Compensation and Fringe Benefits In addition to any executive bonus, pension, deferred compensation and long-term incentive plans which the Company or an affiliate of the Company may from time to time make available to the Employee, the Employee shall be entitled to the following during the Employment Term: (a) the standard Company benefits enjoyed by the Company’s other top executives as a group; (b) medical and other insurance coverage (for the Employee and any covered dependents) provided by the Company to its other top executives as a group; (c) supplemental disability insurance sufficient to provide two-thirds of the Employee’s pre-disability Annual Base Salary; (d) an annual incentive bonus opportunity under the Company’s annual incentive plan (“Annual Bonus Plan”) for each calendar year included in the Employment Term, with such opportunity to be earned based upon attainment of performance objectives established by the Committee (“Annual Bonus”). The Employee’s target Annual Bonus under the Annual Bonus Plan shall be no less than 150% of the Employee’s Annual Base Salary (collectively, the target and maximum are referred to as the “Annual Bonus Opportunity”). The Employee’s Annual Bonus Opportunity may be periodically reviewed and increased (but not decreased without the Employee’s express written consent) at the discretion of the Committee. The Annual Bonus shall be paid no later than the March 15th first following the calendar year to which the Annual Bonus relates. Unless provided otherwise herein or the Board determines otherwise, no Annual Bonus shall be paid to the Employee unless the Employee is employed by the Company, or an affiliate thereof, on the Annual Bonus payment date; and (e) participation in the Company’s equity incentive plans.

  • Separation Compensation In exchange for your agreement to the general release and waiver of claims and covenant not to sue set forth below and your other promises herein, the Company agrees to provide you with the following:

  • Compensation Benefits Etc During the Employment Period, the Manager shall be compensated as follows: (a) The Manager shall (i) receive an annual cash base salary, payable not less frequently than semi-monthly, which is not less than the annualized cash base salary payable to Manager as of the Effective Date; (ii) be entitled to at least as favorable annual incentive award opportunity under the Company's annual incentive compensation plan as he did in the calendar year immediately prior to the year in which the Change of Control Event occurs; and (iii) be eligible to participate in all of the Company's long-term incentive compensation plans and programs on terms that are at least as favorable to the Manager as provided to the Manager in the four calendar years prior to the Effective Date. (b) The Manager shall be entitled to receive fringe benefits, employee benefits, and perquisites (including, but not limited to, vacation, medical, disability, dental, and life insurance benefits) which are at least as favorable to those made generally available as of the Effective Date to all of the Company's salaried managers as a group. In addition, the Manager shall be eligible to participate in the Company's Supplemental Retirement Income Program ("SRIP"). (c) Notwithstanding any other provision of this Agreement (whether in this Section 4, in Section 6, or elsewhere), (i) the Board of Directors may authorize an increase in the amount, duration, and nature of and/or the acceleration of any compensation or benefits payable under this Agreement, as well as waive or reduce the requirements for entitlement thereto and (ii) the Company may deduct from amounts otherwise payable to the Manager such amounts as it reasonably believes it is required to withhold for the payment of federal, state, and local taxes.

  • Director Compensation Petitioner shall not compensate members of the Charter School’s Governing Board in excess of reasonable expenses incurred in connection with actual attendance at board meetings or with performance of duties associated therewith.

  • Compensation Plans Following any termination of the Executive's employment, the Company shall pay the Executive all unpaid amounts, if any, to which the Executive is entitled as of the Date of Termination under any compensation plan or program of the Company, at the time such payments are due.

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