Compensation Package. The compensation package available to support personnel is composed of a seventeen-step salary schedule and, where applicable, a contribution toward the employee's health insurance premium and retirement. The Salary Schedule is included within this agreement. No schedule of the District's payments toward health insurance or employee retirement is included within the agreement.
Compensation Package. Employee’s compensation and any and all other rights of Employee under this Agreement are included in the following compensation package (the “Compensation Package”). This Compensation Package shall contain certain financial terms outlined in Schedule A and conditions addressed below (salary, health care, Company benefits and life and disability insurance, etc.).
Compensation Package. The cost of the unit members' salaries, health and welfare benefits, and of retirement benefits. Also to be considered are the costs of mandated benefits: STRS, Workers Compensation, Medicare, and Unemployment Compensation.
Compensation Package. (a) The Executive's annual salary during the Initial Term shall be as hereinafter set forth, payable by check in equal bi-weekly installments or in such other periodic installments as may be in accordance with the regular payroll policies of IFFP, as from time to time in effect, less such deductions or amounts to be withheld as shall be required by applicable law and regulations: July 1, 1997 through June 30, 1998 $100,000.00 July 1, 1998 through June 30, 1999 $110,000.00 July 1, 1999 through June 30, 2000 $120,000.00
(b) The Executive shall be entitled to participate in Company provided family medical/dental insurance plans, provided that the policy may have standard co-insurance and deductible provisions, and that 25% of the cost of the policy shall be paid by the Executive.
(c) The Executive shall be entitled to three (3) weeks of paid vacation during any year of the Term.
(d) The Executive shall be eligible for an annual bonus in accordance with the Company's and IFFP's policies as in effect from time to time.
(e) IFFP shall provide the Executive with an automobile to use in connection with the performance of his duties hereunder.
(f) IFFP shall pay or reimburse the Executive for all reasonable expenses actually incurred or paid by him in the performance of his duties hereunder, in accordance with Company policy and upon the presentation by the Executive of an itemized account of such expenditures.
(g) The Executive shall be eligible to receive stock option grants under the Company's stock option plans in the discretion of the Company's Board of Directors or option committees under such plans. The Company will recommend to the Board or such committees a grant of a stock option to acquire 100,000 shares of the IFFC's common stock, par value $.01 per share (the "Common Stock"), at an exercise price per share equal to the current price of the Common Stock on the date of the grant, such options to be exercisable in whole or in part and cumulatively according to the following schedule, provided in each case that the Executive is an employee of the Company on the date of reference:
(i) 20 percent 1 year after the effective date (ii) 60 percent 2 years after the effective date (iii) 100 percent 3 years after the effective date In no event shall this Option be exercised 10 years after this Option first becomes exercisable.
Compensation Package. (a) The Company shall pay to the Employee, and the Employee agrees to accept, base salary of two hundred and fifty thousands dollars ($250,000) per year, payable in accordance with normal payroll policies of the Company and shall be subject to all usual and customary payroll deductions including all applicable withholding taxes.
(b) The Employee's annual base salary increase over the prior year's base salary each year during the term hereof should be the sole discretion of the Company's Board of Directors based on Company and the Employee's performance.
Compensation Package. (a) The Executive's minimum annual salary during the first year of the Initial Term shall be $250,000 per annum, payable by check in equal bi-weekly installments or in such other periodic installments as may be in accordance with the regular payroll policies of the Company as from time to time in effect, less such deductions or amounts to be withheld as shall be required by applicable law and regulations, provided that for each subsequent year during the Term, the minimum salary shall be increased by ten percent (10%).
(b) The Executive shall be entitled to participate in Company provided family medical/dental insurance plans, provided that the policy may have standard co-insurance and deductible provisions. Should Executive desire to procure supplemental or alternative insurance policy or policies for himself and/or his family, the Company will reimburse 75% of the cost thereof.
(c) The Executive shall be entitled to four (4) weeks of paid vacation during the first year of the Initial Term and 6 weeks of paid vacation during any subsequent year of the Term. In the event the Executive elects not to take all or any portion of his vacation, the Company will pay the Executive for each day of vacation not taken an amount of money equal to the quotient of the Executive's then current annual salary divided by 260.
(d) The Executive shall participate in all profit sharing plans adopted by the Company. Additionally, the Executive shall be entitled to receive an annual incentive bonus as determined by the Board. The annual bonus shall be paid in cash within 30 days after the Company files with the SEC its Annual Report on Form 10-K with respect to such year. The incentive bonus shall be pro-rated for partial years.
(e) The Company shall provide the Executive with an automobile allowance of $1,250 per month. The Executive shall be responsible for all associated expenses relating to such automobile, including, without limitation, insurance, gas and repairs.
(f) The Company shall pay or reimburse the Executive for all reasonable expenses actually incurred or paid by him in the performance of his duties hereunder, including travel and entertainment, in accordance with Company policy and upon the presentation by the Executive of an itemized account of such expenditures.
(g) The Executive shall be eligible to receive stock option grants under the Company's stock option plans in the discretion of the Company's board of directors or option committees under such plans.
Compensation Package. A. BASE SALARY: $84,000 per year with 7% annual increases payable in accordance with the Company's payroll policies.
Compensation Package. During this employment term, Executive shall be entitled to the compensation package set forth in the offer letter to Executive from Xxxxxxx Xxxxxx, dated February 15, 2008 (“Offer Letter”)
Compensation Package. 1. SALARY SCHEDULE
a. Each Certificated Professional Teacher shall be paid his/her individual salary based upon the individual’s placement on the schedule for actual educational placement and experience placement.
b. A Certificated Professional Teacher new to the District is placed on the District’s Salary Schedule based upon their placement on the State Career Ladder. (i.e. if the SDE indicates the individual is a P3 on the State’s Career Ladder, the individual is then placed on the P3 step of the District’s Schedule.).
i. If the Certificated Professional Teacher has not yet earned twenty-four (24) credits beyond their bachelor’s degree, subsequent to certification they will be placed no higher than P5 on the District’s Schedule.
c. Existing Certificated Professional Teachers move one step down on the District’s Schedule for each full year of employment with the District, until such employee reaches the P5 level.
d. For a Certificated Professional Teacher to move beyond the P5 step, the Certificated Professional Teacher must have additional educational credits. A Certificated Professional Teacher will be frozen at P5 if they have not earned at least twenty- four (24) educational credits beyond the bachelor’s degree, earned after obtaining a teaching certificate.
i. For a Certificated Professional Teacher to move from P5 to BA6, the Certificated Professional Teacher must have at least twenty-four (24) educational credits beyond their bachelor’s degree, earned after obtaining their teaching certificate.
a) The Certificated Professional Teacher will continue to move one step for each full year of employment until they reach BA8.
ii. A Certificated Professional Employee will be frozen at BA8 unless they have earned a master’s degree, subsequent to obtaining their teaching certificate, which then allows the Certificated Professional Teacher to move to MA9.
a) The Certificated Professional Teacher will continue to move one step for each year of service until they reach MA10, the location where the Certificated Professional Teacher will ultimately be frozen.
Compensation Package. (a) The Company shall pay to the Employee, and the Employee agrees to accept, base salary of one hundred and sixty thousand dollars ($160,000) per year, payable in accordance with normal payroll policies of the Company and shall be subject to all usual and customary payroll deductions including all applicable withholding taxes.
(b) Any base salary increase during the term hereof should be the sole discretion of the Company's Board of Directors based on Company and the Employee's performance.
