Common use of Derivation of Bi-Weekly and Monthly Rates Clause in Contracts

Derivation of Bi-Weekly and Monthly Rates. The hourly rates set forth in Schedule "A" shall be the basis for application of any general salary increases. The formula for converting the hourly rates to bi- weekly and monthly rates is as follows: hourly x bi-weekly = bi-weekly rate (taken rate hours to 2 decimal places) bi-weekly rate x 26.089 = monthly rate (taken to 12 the nearest dollar) The resultant hourly and bi-weekly rates are the pay rates to which salaried employees are entitled. The monthly salaries shall be calculated to the nearest dollar. (e.g. 50¢ or more shall be increased to the next highest dollar and less than 50¢ shall not be counted.)

Derivation of Bi-Weekly and Monthly Rates. The hourly rates set forth in Schedule "A" shall be the basis for application of any general salary increases. The formula for converting the hourly rates to bi- weekly bi‐weekly and monthly rates is as follows: hourly x bi-weekly bi‐weekly = bi-weekly bi‐weekly rate (taken rate hours to 2 decimal places) bi-weekly bi‐weekly rate x 26.089 = monthly rate (taken to 12 the nearest dollar) The resultant hourly and bi-weekly bi‐weekly rates are the pay rates to which salaried employees are entitled. The monthly salaries shall be calculated to the nearest dollar. (e.g. 50¢ or more shall be increased to the next highest dollar and less than 50¢ shall not be counted.)

Derivation of Bi-Weekly and Monthly Rates. The hourly rates set forth in Schedule "A" shall be the basis for application of any general salary increases. The formula for converting the hourly rates to bi- bi-weekly and monthly rates is as follows: hourly x bi-weekly = bi-weekly rate (taken rate hours to 2 decimal places) bi-weekly rate x 26.089 = monthly rate (taken to 12 the nearest dollar) The resultant hourly and bi-weekly rates are the pay rates to which salaried employees are entitled. The monthly salaries shall be calculated to the nearest dollar. (e.g. 50¢ or more shall be increased to the next highest dollar and less than 50¢ shall not be counted.)