Common use of Final Annual Pay Clause in Contracts

Final Annual Pay. 2.1.1. Final pay is determined by the gross ordinary time earnings for the 12 months prior to separation or the substantive salary/wage at the time of separation whichever is the higher. It does not include leave loading or overtime and is not the employee’s pay at the time of separation, converted to an annual rate. However, it shall include allowance payments which are by this Agreement, payable for all purposes.

Final Annual Pay. 2.1.1. Final pay is determined by the gross ordinary time earnings for the 12 twelve (12) months prior to separation or the substantive salary/wage salary at the time of separation (whichever is the higher). It does not include leave loading or overtime and is not the employee’s pay at the time of separation, converted to an annual rate. However, it shall include allowance payments which are by this Agreement, payable for all purposes.