Compensation and Retirement Sample Clauses

Compensation and Retirement. A. The salaries of teachers are set forth in Appendix A which is attached hereto and made a part of this Agreement. B. The Board may, at its sole discretion, grant credit to newly employed teachers for experience acquired outside the District. The District will fully disclose to new teachers that they may be hired at a different salary step than other new hires with identical credit. C. Although graduate credits earned before the acquisition of a teaching certificate do not count toward a BA+24, BA+36, or BA+52 lane change, these credits do count toward a MA lane change if the MA degree is attained. Furthermore, graduate credits earned before a MA degree is attained do not count toward a MA+10. The MA degree must first be attained, and then the subsequent credits will count toward a MA+10 lane change. All credits earned beyond a BA or MA degree that are applicable to a lane change must be related to the teacher’s instructional responsibilities as determined by the superintendent or designee. D. Compensation for the annually assigned extra-duty positions are set forth in Appendix B which is attached hereto and incorporated into this Agreement. E. In recognition of at least 20 years of service to Xxxxx Public Schools, all teachers shall receive an annual longevity supplemental payment of $1150 additional compensation per year which will be maintained until retirement, with the exception of those teachers who selected the terminal leave payment option. This amount shall remain constant and not be increased by any annual percentage increases applied to the salary schedule.
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Compensation and Retirement. A. The salaries of teachers are set forth in Appendix A which is attached hereto and made a part of this Agreement. B. The Board may, at its sole discretion, grant credit to newly employed teachers for experience acquired outside the District. The District will fully disclose to new teachers that they may be hired at a different salary step than other new hires with identical credit. C. Although graduate credits earned before the acquisition of a teaching certificate do not count toward a BA+24, BA+36, or BA+52 lane change, these credits do count toward a MA lane change if the MA degree is attained. Furthermore, graduate credits earned before a MA degree is attained do not count toward a MA+10. The MA degree must first be attained, and then the subsequent graduate credits will count toward a MA+10 lane change. D. Compensation for the annually assigned extra-duty positions are set forth in Appendix B which is attached hereto and incorporated into this Agreement. E. In recognition of service to the District, each teacher, upon resignation or retirement from the Xxxxx Public Schools shall be paid a terminal leave payment of .75% of salary for each year of service to the District, provided the teacher has been employed by the District for at least ten (10) years. Only those years of employment in the District shall be used in determining the terminal leave payment. The above language shall apply to any teacher, who has at least ten (10) years of service as of August 17, 1999. For those teachers with less than ten (10) years of service and those teachers with ten years or more who wish to opt-out of the above referenced system, the twenty (20) year longevity step shall be increased by one thousand one hundred fifty dollars ($1150) and maintained until retirement. This amount shall remain constant and not be increased by any annual percentage increases applied to the salary schedule. Those teachers opting out of the above referenced system must notify the District in writing by June 1, 2000. Longevity Supplemental 2010-11 School Year: BA+36 BA+52 Year BA BA+24 MA MA+10 20 $51,308 $64,135 $69,814 $72,561 21 $51,308 $64,135 $69,814 $72,561 22 $51,308 $64,135 $69,814 $72,561 23 $51,308 $64,135 $69,814 $72,561 24 $51,795 $64,746 $70,481 $73,255 and on until retirement F. Upon mutual consent between the Association and the Administration, the parties agree to review early retirement provisions annually during the month of January only to determine what, if any, provi...
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Compensation and Retirement. A. The salaries of teachers are set forth in Appendix A which is attached hereto and made a part of this Agreement. B. The Board may, at its sole discretion, grant credit to newly employed teachers for experience acquired outside the District. The District will fully disclose to new teachers that they may be hired at a different salary step than other new hires with identical credit. C. Although graduate credits earned before the acquisition of a teaching certificate do not count toward a BA+24, BA+36, or BA+52 lane change, these credits do count toward a MA lane change if the MA degree is attained. Furthermore, graduate credits earned before a MA degree is attained do not count toward a MA+10. The MA degree must first be attained, and then the subsequent credits will count toward a MA+10 lane change. All credits earned beyond a BA or MA degree that are applicable to a lane change must be related to the teacher’s instructional responsibilities as determined by the superintendent or designee. D. Compensation for the annually assigned extra-duty positions are set forth in Appendix B which is attached hereto and incorporated into this Agreement. E. Teachers who selected the terminal leave payment prior to June 1, 2000, upon resignation or retirement from Xxxxx Public Schools, shall be paid a terminal leave payment of .75% of their current contractual salary for each year of service to the district. The terminal leave payment will be made through a 403(b)
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Compensation and Retirement 
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Related to Compensation and Retirement

  • Resignation and Retirement Any Trustee may resign his trust or retire as a Trustee, by written instrument signed by him and delivered to the other Trustees or to any officer of the Trust, and such resignation or retirement shall take effect upon such delivery or upon such later date as is specified in such instrument.

  • Severance and Retirement Options (i) Where an employee resigns within 30 days after receiving notice of layoff pursuant to article 14.02 (a)(ii) that his or her position will be eliminated, he or she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to a maximum of sixteen (16) weeks' pay, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000) dollars. (ii) Where an employee resigns later than 30 days after receiving notice pursuant to article 14.02(a)(ii) that his or her position will be eliminated, he or she shall be entitled to a separation allowance of four (4) weeks' salary, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of one thousand two hundred and fifty ($1,250) dollars. (b) Prior to issuing notice of layoff pursuant to article 14.02(a)(ii) in any classification(s), the Hospital will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under HOOPP within the classification(s) in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the classification(s) who would otherwise receive notice of layoff under article 14.02(a)(ii). Within thirty (30) days from the date of notice of layoff, an employee who has received notice of layoff of a permanent or long-term nature may retire provided that the employee is eligible to retire under the terms of the Hospitals of Ontario Pension Plan. An employee who chooses this option forfeits her right to notice and will receive severance pay on the basis of two (2) weeks’ pay for each year of service with the Hospital to a maximum of fifty-two (52) weeks on the basis of the employees normal weekly earnings. In addition, full-time employees will receive a lump sum payment equal to $1,000.00 for every year less than age 65, to a maximum of $5,000.00.

  • Deferred Retirement a. An employee who is eligible for paid retirement at the time he or she separates from County service, but elects deferred retirement, may defer participation in the Grant until such time as he or she becomes an active retiree. b. An otherwise eligible employee who is not eligible for paid retirement at the time he or she separates from County service but is eligible for and elects deferred retirement shall not become eligible for participation in the Grant.

  • Compensation Benefits and Reimbursement (a) The compensation specified under this Agreement shall constitute the salary and benefits paid for the duties described in Section 2. The Bank shall pay Executive as compensation a salary of not less than [$ ] per year (“Base Salary”). Such Base Salary shall be payable biweekly, or with such other frequency as officers and employees are generally paid. During the period of this Agreement, Executive’s Base Salary shall be reviewed at least annually. Such review shall be conducted by a committee designated by the Board, and the Bank may increase, but not decrease (except a decrease that is generally applicable to all employees) Executive’s Base Salary (with any increase in Base Salary to become “Base Salary” for purposes of this Agreement). Base Salary shall not include any director’s fees that the Executive is entitled to receive as a director of the Bank or any affiliate of the Bank. Such director’s fees shall be separately paid to the Executive. (b) Executive will be entitled to participate in and receive benefits under any employee benefit plans including, but not limited to, retirement plans, supplemental retirement plans, pension plans, profit-sharing plans, health-and-accident insurance plans, medical coverage or any other employee benefit plan or arrangement made available by the Bank currently or in the future to its senior executives and key management employees. Executive will be entitled to participate in any incentive compensation and bonus plans offered by the Bank in which Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement. (c) In addition to the Base Salary provided for by paragraph (a) of this Section 3, the Bank shall pay or reimburse Executive for all reasonable travel and other reasonable expenses incurred by Executive performing his obligations under this Agreement and may provide such additional compensation in such form and such amounts as the Board may from time to time determine. The Bank shall reimburse Executive for his ordinary and necessary business expenses including, without limitation, fees for memberships in such clubs and organizations as Executive and the Board shall mutually agree are necessary and appropriate for business purposes, and travel and entertainment expenses, incurred in connection with the performance of his duties under this Agreement.

  • 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.

  • Transition to Retirement 24.1 An Employee may advise their Employer in writing of their intention to retire within the next five years and participate in a retirement transition arrangement. 24.2 Transition to retirement arrangements may be proposed and, where agreed, implemented as: (a) a flexible working arrangement (see clause 16 (Flexible Working Arrangements)); (b) in writing between the parties; or (c) any combination of the above. 24.3 A transition to retirement arrangement may include but is not limited to: (a) a reduction in their EFT; (b) a job share arrangement; or (c) working in a position at a lower classification or rate of pay. 24.4 The Employer will consider, and not unreasonably refuse, a request by an Employee who wishes to transition to retirement: (a) to use accrued Long Service Leave (LSL) or Annual Leave for the purpose of reducing the number of days worked per week while retaining their previous employment status; or (b) to be appointed to a role which that has a lower hourly rate of pay or hours (post transition role), in which case: (i) the Employer will preserve the accrual of LSL at the time of reduction in salary or hours; and (ii) where LSL is taken or paid out in lieu on termination, the Employee will be paid LSL hours at the applicable classification and grade, and at the preserved hours, prior to the post transition role until the preserved LSL hours are exhausted.

  • 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.

  • Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all other savings and retirement plans, practices, policies and programs, in each case on terms and conditions no less favorable than the terms and conditions generally applicable to the Company’s other executive employees.

  • 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.

  • Compensation; Employment Agreements; Etc Enter into or amend or renew any employment, consulting, severance or similar agreements or arrangements with any director, officer or employee of Metropolitan or its Subsidiaries, or grant any salary or wage increase or increase any employee benefit (including incentive or bonus payments), except (i) for normal individual increases in compensation to employees in the ordinary course of business consistent with past practice, (ii) for other changes that are required by applicable law, and (iii) to satisfy Previously Disclosed contractual obligations existing as of the date hereof.

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