Common use of Equity Increases Clause in Contracts

Equity Increases. Effective August 8, 2016 for the 2016-2017 year, the University shall provide an amount equal to one-fifth of one percent (0.20%) of the total base salary of all employees to all full-time, non-visiting employees whose August 7, 2016, 9-month salary was less than $45,000 for those with a Ph.D. or equivalent terminal degree or less than $42,000 for all others; or whose 12-month salary was less than $60,000 for those with a Ph.D. or equivalent degree or less than $56,000 for all others. Equity increases shall be distributed proportional to the difference between the employee’s August 7, 2016 salary and the thresholds above.