Effective October 1, 2017 Sample Clauses

Effective October 1, 2017 for the remainder of the term of this Agreement, employees topped out of the established pay steps shall receive a one-time annual lump sum payment of one and one-half percent (1.5%) of base annual rate for an overall performance evaluation rating of satisfactory or a one-time annual lump sum payment of three percent (3%) of base annual rate for an overall performance evaluation rating of above satisfactory or outstanding. The base annual rate used to calculate the lump sum payment shall be the rate in effect on the date the employee’s annual performance evaluation is due. The parties agree the lump sum payments are not considered pensionable. For purposes of this Section, employees between steps G and H, and at step H, will be considered topped out. No lump sum payment will be made in the year employees progress to step H, however, the employee shall be eligible for the lump sum payment in the following years.