COMPENSATION DETAILS Sample Clauses

COMPENSATION DETAILS. Funding for this model is based upon three sources: New revenue (for the 2021-22 contract) is defined as revenue generated by Tuition Support, Special Education Grant, and Vocational Grant that is in excess of the funding from the 2020- 21 contract year for the same revenue sources. The net amount available for employee compensation resulting from these three funding sources is (accounting for teacher retirement and social security costs): $475,422.38 Using these three sources as a beginning point of negotiation, the BEA and the BOARD have agreed upon the following: a) Salary Range for full-time classroom teachers (instructs students at least 50% of the workday) for 2021-22 (excluding current year increases): $37,000 to $70,000 b) General Eligibility a. Employee must have a year of service (120 days or more) and b. An evaluation rating of effective or highly effective c. Except as provided in section 6.2 of this contract, a teacher who received an evaluation rating of ineffective or improvement necessary in the prior school year is not eligible for any salary increase and remains at their prior year salary. d. A teacher who is in the first two full school years of instructing students who receives an evaluation rating of improvement necessary is eligible for a salary increase c) Base Salary Increases: $5092 (per each full-time employee) will be added to the base salary. Employees less than full-time will receive a prorated base salary increase depending upon the percent of full-time they are employed. Each highly effective and effective teacher will receive their increase defined by this contract within thirty days after contract ratification and BOARD approval. This increase will be distributed through a single retroactive pay amount followed by an adjusted bi-weekly amount for the remainder of the contract. d) Factors and Definitions a. Evaluation rating – The teacher received a highly effective or effective evaluation rating for the prior year. b. Year of experience – The teacher was employed in the corporation for at least 120 days in the prior year.