Maintenance of Basic Rates Sample Clauses

Maintenance of Basic Rates. An employee whose rate of pay is reduced by $2.00 or more per week, by reason of being displaced due to a technological, operational or organizational change will continue to be paid at the basic weekly or hourly rate applicable to the position permanently held at the time of the change providing that, in the exercise of seniority, he:
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Maintenance of Basic Rates. 5.1 An employee whose rate of pay is reduced by $2.00 or more per week, by reason of being displaced due to a change brought about as a result of Technological, Operational or Organizational change, pursuant to an Article 1.1 (a) Notice, will continue to be paid at the basic weekly or hourly rate applicable to the position permanently held at the time of the change providing that, in the exercise of seniority, s/he (a) first accepts the highest-rated position on his/her Seniority List or equal to or higher position on another Seniority List at his/her Location to which his/her seniority and qualifications entitle him/her; or (b) if no position is available at his/her location, s/he accepts the highest-rated position on his/her Basic Seniority Territory to which his/her seniority and qualifications entitle him/her. The maintenance of basic rate, will continue until: (i) The dollar value of the incumbency above the prevailing job rate has been maintained for a period of three years, and thereafter until subsequent general wage increases applied on the basic rate of the position s/he is holding erase the incumbency differential; or (ii) the employee fails to apply for a position, the basic rate of which is higher by an amount of $2.00 per week or more than the basic rate of the position which s/he is presently holding and for which s/he is qualified at the Location where s/he is employed; or (iii) the employee's services are terminated by discharge, resignation, death or retirement. In the application of (ii) above, an employee who fails to apply for a higher-rated position, for which s/he is qualified, will be considered as occupying such position and his/her incumbency shall be reduced correspondingly. In the case of a temporary vacancy, his/her incumbency will be reduced only for the duration of that temporary vacancy. An example of the application of Article 5.1(b) (i) follows: Oct. 1, 1995 500.00 550.00 Jan. 1, 1996 (2% inc.) 510.00 560.00 Jan. 1, 1997 (3% inc.) 525.30 575.30 Jan. 1, 1998 (3% inc.) 541.05 591.05 Jan. 1, 1999 (3% inc.) 557.28 591.05 Jan. 1, 2000 (3% inc.) 573.99 591.05 Jan. 1, 2001 (3% inc.) 591.20 Incumbency disappears
Maintenance of Basic Rates. A protected freight employee with a seniority date prior to March who as a result of the implementation of Conductor Only Operation is unable to hold a through freight xxxxxxxx's position will be granted incumbency protection as follows: The basic weekly pay of such an employee shall be maintained by payment to such employee of the difference between actual earnings in a four week period and four times the basic weekly pay. Such difference shall be known as an employee's incumbency. In the event an employee's actual earnings in a four week period exceed four times basic weekly pay, no incumbency shall be payable. An incumbency for the purpose of maintaining an employee's earnings, shall be payable provided: is available for service during the entire four week period. If not available for service during the entire four week period, the incumbency for that period will be reduced by an amount equivalent to of incumbency for each assignment missed; and in the application of paragraph a) above, an employee will be considered unavailable for service if on vacation, leave of absence, missed call, laid off, or rest booked in excess of hours; all compensation paid an employee by the Company during each four week period will be taken into account in computing the amount of an employee's incumbency. For the purpose of this Clause the term basic weekly pay shall be defined as second (1152) of the total earnings of such employee during the pay periods preceding the implementation of this agreement to a maximum equivalent to miles per checking period at through freight brakeman's rates. When computing "basic weekly pay" pursuant to paragraph above, any pay period during which an employee is absent for seven consecutive days or more because of bona fide injury, sickness in respect of which an employee is in receipt of weekly indemnity benefits, authorized leave of absence, or laid off without Employment Security Benefits, together with the earnings of an employee in that pay period, shall be subtracted from the (26) pay periods and total earnings. In such circumstances "basic weekly pay" shall be calculated on a basis by dividing the remaining earnings by the remaining number of pay periods. The payment of an incumbency, calculated as above, will continue to be made: as long as the employee's earnings in a period is less than two times basic weekly until the employee fails to exercise seniority to a permanent position, including a known temporary vacancy, on a required p...
Maintenance of Basic Rates. An employee whose rate of pay is reduced by or more per week, by reason of being displaced due to a technological, operational or organizational change will continue to be paid at the basic weekly or hourly rate applicable to the position permanently held at the time of the change providing that, in the exercise of seniority, he: first accepts the highest-rated position at his location to which his seniority and qualifications entitle him; or if no position is available at his location, he accepts the highest rated position on his basic seniority territory to which his seniority and qualifications entitle him. The maintenance of basic rates, and four-week guarantees if applicable, will continue until: The dollar value of the incumbency above the prevailing job rate has been maintained for a period of five years, and thereafter until subsequent general wage increases applied on the basic rate of the position he is holding erase the incumbency differential; or the employee fails to apply for a position, the basic rate of which is higher, by an amount of per week or more than the basic rate of the position which he is presently holding and for which he is qualified at the location where he is employed; or the employee's services are terminated by discharge, resignation, death or retirement. In the application of above, an employee who fails to apply for a position, for which he is qualified, will be considered as occupying such position and his incumbency shall be reduced correspondingly. In the case of a temporary vacancy, his incumbency will be reduced only for the duration of that temporary vacancy. An example of the application of Article follows: Incumbency Date October January (4% January (4% January (4% January (4% January (4% January (4% January (4% January (4% Basic Rate Level incumbency disappears For the purpose of this Article the basic rate of a position paid on a week guarantee basis shall be converted to a basic rate on a week basis. The basic rate of an employee who is guaranteed hours for each period, comprised of straight time hours and hours at time and one-half which is the equivalent of straight time hours, is per hour at the straight time rate. Inasmuch as his guarantee represents per period, his Basic Weekly Rate shall be considered as and his basic hourly rate shall be considered as

Related to Maintenance of Basic Rates

  • Maintenance of Liquidity Seller shall ensure that it has cash and Cash Equivalents (excluding Restricted Cash or cash pledged to Persons other than Buyer), in an amount not less than $40,000,000.

  • Maintenance of Rating Since the execution of this Agreement, there shall not have been any decrease in or withdrawal of the rating of any securities of the Company or any of its subsidiaries (including the Bank) by any “nationally recognized statistical rating organization” (as defined for purposes of Section 3(a)(62) of the 0000 Xxx) or any notice given of any intended or potential decrease in or withdrawal of any such rating or of a possible change in any such rating that does not indicate the direction of the possible change.

  • Account Maintenance Trade Allocations Trade Reporting; (Futures) Daily Trade Checkout Daily Statement Reconciliation

  • Maintenance of Ratings At all times, Borrower shall use commercially reasonable efforts to maintain (x) a corporate family rating issued by Xxxxx’x and a corporate credit rating issued by S&P and (y) public ratings issued by Xxxxx’x and S&P with respect to its senior secured debt.

  • Establishment and Maintenance of Records GRANTEE shall maintain records, including but not limited to, books, financial records, supporting documents, statistical records, personnel, property, and all other pertinent records sufficient to reflect properly: a. All direct and indirect costs of whatever nature claimed to have been incurred and anticipated to be incurred in the performance of this AGREEMENT; and b. All other matters covered by this AGREEMENT. Such records shall be maintained in accordance with requirements now or hereafter prescribed by the CITY.

  • Maintenance, Etc The Company will maintain, preserve and keep, and will cause each Consolidated Subsidiary to maintain, preserve and keep, its properties which are used in the conduct of its business (whether owned in fee or a leasehold interest) in good repair and working order, ordinary wear and tear excepted, and from time to time will make all necessary repairs, replacements and renewals as the Company may determine to be appropriate to the conduct of its business.

  • Maintenance of Books The Company agrees to maintain, at its aforesaid office or agency, books for the registration and the registration of transfer of the Warrants.

  • Maintenance of Listing The Company will use commercially reasonable efforts to effect and maintain the listing of (x) the Units and Warrants on the NYSE (or another national securities exchange) until the consummation of the Business Combination or until such earlier time at which the Liquidation occurs, and (y) the Common Stock on the NYSE (or another national securities exchange) until five years from the date of the consummation of the Business Combination or until such earlier time at which Liquidation occurs.

  • Maintenance of Accounts If an institution maintaining the Bank Accounts ceases to be a Qualified Institution, the Servicer will, with the Indenture Trustee’s assistance as necessary, move the Bank Accounts to a Qualified Institution within 30 days.

  • MAINTENANCE OF CONDITIONS Conditions of employment in effect at the execution of this Agreement shall, except as improved herein, be maintained during the term of this Agreement.

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