Longevity Adjustment Sample Clauses

Longevity Adjustment. Beginning on the first day of the pay period within which an employee completes five (5) years of total state service, each employee will receive an automatic salary adjustment equivalent to one-half percent (.5%) times the number of years service times the first step of the pay rate of the employee's classification for a total of twenty
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Longevity Adjustment. Any faculty member who is unable to move a step down the salary schedule because he/she was at the bottom step the previous year shall receive a longevity adjustment. The adjustment shall be 2.00% of the salary shown in the cell of the schedule where that faculty member is located, as shown at the bottom of the salary schedule. This adjustment shall be paid as part of the regular payroll. SALARY SCHEDULE STEPS Bachelor Masters Masters +15 Masters +30 Masters +45 Masters +60 Doctorate 1. 40,793 42,543 44,365 46,118 48,102 50,153 52,286 2. 42,120 43,911 45,775 47,545 49,595 51,713 53,891 3. 43,485 45,327 47,234 49,019 51,137 53,325 55,549 4. 44,916 46,792 48,742 50,542 52,729 54,989 57,261 5. 46,387 48,307 50,302 52,115 54,375 56,709 59,029 6. 47,910 49,874 51,914 53,740 56,074 58,486 60,854 7. 49,486 51,496 53,581 55,419 57,830 60,321 62,738 8. 51,117 53,173 55,305 57,153 59,643 62,217 64,684 9. 52,806 54,908 57,088 58,944 61,516 64,175 66,693 10. 54,390 56,704 58,931 60,794 63,452 66,198 68,767 11. 55,886 58,405 60,837 62,705 65,451 68,287 70,908 12. 57,339 60,011 62,662 64,680 67,516 70,446 73,119 13. 58,772 61,572 64,385 66,620 69,649 72,676 75,402 14. 60,331 63,111 66,059 68,452 71,738 74,979 77,759 15. 64,892 67,711 70,232 73,711 77,359 80,193 16. 71,988 75,628 79,817 82,706 17. 73,797 77,518 82,356 85,300 18. 84,827 87,859 19. 87,159 90,275 20. 89,426 92,622 21. 91,661 94,938 22. 93,976 97,331 SALARY SCHEDULE STEPS Bachelor Masters Masters +15 Masters +30 Masters +45 Masters +60 Doctorate 1. 42,120 43,911 45,775 47,545 49,595 51,713 53,891 2. 43,485 45,327 47,234 49,019 51,137 53,325 55,549 3. 44,916 46,792 48,742 50,542 52,729 54,989 57,261 4. 46,387 48,307 50,302 52,115 54,375 56,709 59,029 5. 47,910 49,874 51,914 53,740 56,074 58,486 60,854 6. 49,486 51,496 53,581 55,419 57,830 60,321 62,738 7. 51,117 53,173 55,305 57,153 59,643 62,217 64,684 8. 52,806 54,908 57,088 58,944 61,516 64,175 66,693 9. 54,390 56,704 58,931 60,794 63,452 66,198 68,767 10. 55,886 58,405 60,837 62,705 65,451 68,287 70,908 11. 57,339 60,011 62,662 64,680 67,516 70,446 73,119 12. 58,772 61,572 64,385 66,620 69,649 72,676 75,402 13. 60,331 63,111 66,059 68,452 71,738 74,979 77,759 14. 64,892 67,711 70,232 73,711 77,359 80,193 15. 71,988 75,628 79,817 82,706 16. 73,797 77,518 82,356 85,300 17. 84,827 87,859 18. 87,159 90,275 19. 89,426 92,622 20. 91,661 94,938 21. 93,976 97,331 SALARY SCHEDULE STEPS Bachelor Masters Masters +15 Masters +30 Masters +45 Masters +60 Doctorate 1. 4...
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Longevity Adjustment. Effective June 1, 2005 upon the completion of ten years of full-time service to the College, faculty will receive a $1,000 adjustment to base salary (pending satisfactory performance). Faculty eligible in the first year of this contract will be paid $500 in each of the first two years of this contract.
Sample 1
Longevity Adjustment. ‌ All current employees covered by this agreement who meet the below length of service will receive a one-time service adjustment calculated using the years of service completed as a District 47 employee as of July 1, 2021. This one-time adjustment is for the 2021-2022 school year only. The employee who received the one-time longevity application will then receive a raise each year as set forth in Section 2 above. Upon Completion (Year) Rate Adjustment (Per Hour) 3rd - 6th year $0.40 per hour 7th - 10th year $0.55 per hour 11th - 14th year $0.65 per hour 15th - 19th year $1.00 per hour 20+ years $1.10 per hour
Sample 1
Longevity Adjustment. July 1, 2007 a) With effect on July 1, 2007, the annual salary of every full- time and salaried part-time member of the bargaining unit who is then employed shall be increased by a further amount equal to the longevity adjustment that corresponds to his or her years of full-time State College service. The total cost of all such longevity adjustments shall be $350,000. b) For the purpose of this subsection 2, the years of full-time State College service of a member of the bargaining unit shall be measured as of July 1, 2007, by the length of his or her service as a full-time member of the faculty or librarian at any State College or as a salaried part-time member of the faculty as defined in Section H(4) of this Article XIII; provided only that all such salaried part-time service shall be counted on a prorated basis. c) The amount of each longevity adjustment shall be determined on the basis of the unit member’s membership in a longevity cohort (which shall be determined by his or her years of full-time State College service) and the number of shares that correspond to such cohort: Longevity Cohort Number of Shares i) Less than 10 years 1 ii) 10 or more but less than 20 years 2 iii) 20 or more but less than 30 years 3 iv) 30 or more but less than 40 years 4 v) 40 or more years 5 d) The value of each longevity share shall be calculated as follows: i) The number of eligible members of the bargaining unit in each longevity cohort shall be multiplied by the corresponding number of longevity shares for that cohort and the five products shall be summed to obtain a total number of longevity shares. ii) The total number of longevity shares so calculated shall be divided into $350,000. iii) The result shall equal the value of one (1) longevity share. iv) Example: Number of Unit Members in Cohort Number of Shares Product i) 825 1 825 ii) 325 2 650 iii) 260 3 780 iv) 165 4 660 v) 25 5 125 3040
Sample 1
Longevity Adjustment. 3.1 The District agrees to include a separate 'xxx p sum" in the 2010-2011 year of the Agreem ent for the purpose of providing a longevity adjustment for returning coaches and advisors. The amount of the "lump sum" will be four thousand dollars ($4,000) for the 2010-2011 school year. The formula guiding the distribution of the "xxx p su m " follows in 3.2 below. 3.2 The total number of previous experience for returning coaches and advisors will be divided into the "xxx p sum" i.e., $4,000. The monetary figure obtained will then be multiplied by the years of experience for each returning coach and advisor generating a longevity dollar am ount to be added to each qualifying individual's new extra­ curricular salary. 3.3 For 2000-2001 and subsequent years service must be continuous in the assigned area to qualify for a longevity with the exception of a District approved leave of absence. Changing levels w ithin an appointed assignment is considered continuous service in the follow ing appointments only: Class Advisors, Drama Advisors, Baseball/ Softball, Basketball (Boys/ Girls), Track/ Indoor Track. Changing, however, from one appointed assignment to another such as from Class Advisor to Drama Advisor or from Field Hockey to Track would not be considered continuous service. 3.4 Individuals who change levels within an appointed assignment will be able to carry the accumulated longevity dollar amount to their salary at the new level.
Sample 1

Related to Longevity Adjustment

  • Salary Adjustment The salary of an employee returning from uncompensated leave shall be adjusted to reflect all non-discretionary increases distributed during the period of leave. While on such leave, an employee shall be eligible to participate in any special salary incentive programs.

  • Annual Adjustment At the end of each Fiscal Year and following receipt by Manager of the annual accounting referred to in Article 10, an adjustment will be made to such annual account, if necessary and if available, so that the appropriate amount shall have been deposited in the Reserve.

  • CPI Adjustment At the end of the first Lease year (as hereinafter defined) and every Lease year thereafter (including any renewal periods) the Base Rental provided for in Paragraph 3 above shall be adjusted by adding to Base Rental the "Add-on Factor". The one (1) year periods are each hereinafter referred to as an "Adjustment Period". As used herein, the "Add- on Factor" shall mean the "Add-on Sum" minus "Net Base Rental"; "Add-on Sum" shall mean a sum determined by multiplying the "Net Base Rental" by the "Adjustment Factor"; "Net Base Rental" shall mean the Base Rental described above minus Initial Basic Cost, and "Adjustment Factor" shall mean a fraction, the numerator of which is the "CPI" published immediately preceding the applicable anniversary date and the denominator of which is the "CPI" published immediately preceding the commencement date of the term of this Lease. "CPI" shall mean the United States Average (1982-84 '" 100), as published bi-monthly (or if the same shall no longer be published bi-monthly, on the most frequent basis available) by the Bureau of Labor Statistics, U.S. Department of Labor (but if such is subject to adjustment later, the later adjusted index shall be used). The Adjusted Rental shall be the new Base Rental of the Premises effective as of the first day of the applicable Adjustment Period. Notwithstanding the foregoing calculation, the yearly percentage rent adjustment pursuant to this Paragraph 9 shall in no event be less than FIVE percent (5%) per year. Tenant shall continue payment of the Base Rental in effect for the expiring Adjustment Period until notified by Landlord of any increase in such Base Rental. Such notification shall include a memorandum showing the calculations used by Landlord in determining the new Base Rental. On the first day of the calendar month immediately succeeding receipt of such notice, Tenant shall commence payment of the new Base Rental spedfied in the notice, and shall also pay to Landlord with respect to the month(s) already expired, the excess of the required monthly rentals spedfied in the notice over the monthly amounts actually paid by Tenant.

  • Salary Adjustments At any time during the term of this Contract, the Board may, in its discretion, review and adjust the salary of the Superintendent, but in no event shall the Superintendent be paid less than the salary set forth in Section 3.1 of this Contract except by mutual agreement of the two parties. Such adjustments, if any, shall be made pursuant to a lawful Board resolution. In such event, the parties agree to provide their best efforts and reasonable cooperation to execute a new contract incorporating the adjusted salary.

  • PREMIUM ADJUSTMENT If THE COMPANY overpays a reinsurance premium and THE REINSURER accepts the overpayment, THE REINSURER’s acceptance will not constitute or create a reinsurance liability or increase in any existing reinsurance liability. Instead, THE REINSURER will be liable to THE COMPANY for a credit in the amount of the overpayment. If a reinsured policy terminates, THE REINSURER will refund the excess reinsurance premium. This refund will be on a prorated basis without interest from the date of termination of the policy to the date to which a reinsurance premium has been paid.

  • Royalty Adjustments The following adjustments shall be made, on a Licensed Product-by-Licensed Product and country-by-country basis, to the royalties payable pursuant to this Section 5.5:

  • True-Up Adjustments From time to time, until the Retirement of the Recovery Bonds, the Servicer shall identify the need for True-Up Adjustments and shall take all reasonable action to obtain and implement such True-Up Adjustments, all in accordance with the following:

  • Supervisory Differential Adjustment The Appointing Officer shall adjust the compensation of a supervisory employee whose compensation grade is set herein subject to the following conditions:

  • Tax Adjustment Tenant shall pay, as Additional Charges, an amount (hereinafter referred to as the “Tax Adjustment Amount”) equal to Tenant’s Expense Share of the amount of Taxes incurred with respect to each Lease Year; except that Tenant shall be required to pay only a pro rata amount of the Tax Adjustment Amount for the Lease Years in which the first and last days of the Term occur pro rated on a per diem basis. Tenant shall not, however, have any right to audit Landlord’s books and records pertaining to Taxes. The Tax Adjustment Amount with respect to each Lease Year shall be paid in monthly installments in advance on the first day of each and every calendar month during such Lease Year, commencing on the Commencement Date, in an amount estimated from time to time by Landlord and communicated by written notice to Tenant. Following receipt of actual tax bills, Landlord shall deliver to Tenant a statement setting forth (i) the actual Tax Adjustment Amount for such Lease Year; (ii) the total of the estimated monthly installments of the Tax Adjustment Amount paid to Landlord for such Lease Year; and (iii) the amount of any excess or deficiency with respect to such Lease Year. Tenant shall pay any deficiency to Landlord as shown by such statement within 30 days after receipt of such statement. If the total of the estimated monthly installments paid by Tenant during any Lease Year exceeds the actual Tax Adjustment Amount due from Tenant for such Lease Year, at Landlord’s option such excess shall be either credited against payments next due hereunder or refunded by Landlord, provided Tenant is not then in default hereunder.

  • Section 754 Adjustment To the extent an adjustment to the adjusted tax basis of any Partnership asset pursuant to Code Section 734(b) or Code Section 743(b) is required, pursuant to Regulations Section 1.704-1(b)(2)(iv)(m)(2) or Regulations Section 1.704-1(b)(2)(iv)(m)(4), to be taken into account in determining Capital Accounts as the result of a distribution to a Holder in complete liquidation of his interest in the Partnership, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis) and such gain or loss shall be specially allocated to the Holders in accordance with their interests in the Partnership in the event that Regulations Section 1.704-1(b)(2)(iv)(m)(2) applies, or to the Holders to whom such distribution was made in the event that Regulations Section 1.704-1(b)(2)(iv)(m)(4) applies.

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