Common use of Merit Increase Clause in Contracts

Merit Increase. Upon progress and productivity, employees may be considered for increase from one step in the salary range to the next step in the salary range according to the following plan:  The numbers 1,2,3,4, and 5, respectively, denote the various steps in the pay range. Each step represents a five percent (5%) increase in salary above the previous step.  Step 1 shall be paid upon initial employment except when a higher step in a salary range is authorized under Article 7.6 of this Memorandum.  Step 2 shall be authorized upon receiving an overall rating equivalent to satisfactory, or above, after completion of twenty-six (26) pay periods of employment at Step 1.  Step 3 shall be authorized upon receiving an overall rating equivalent to satisfactory, or above, after completion of twenty six (26) pay periods of employment at Step 2.  Step 4 shall be authorized upon receiving an overall rating equivalent to satisfactory, or above, after completion of twenty six (26) pay periods of employment at Step 3.  Step 5 shall be authorized upon receiving an overall rating equivalent to satisfactory, or above, after completion of twenty six (26) pay periods of employment at Step 4.  Nothing in this section should be construed to prevent any pay for performance strategies.

Appears in 3 contracts

Samples: Memorandum of Understanding, Memorandum of Understanding, Memorandum of Understanding

AutoNDA by SimpleDocs

Merit Increase. Upon progress and productivity, employees may be considered for increase from one step in the salary range to the next step in the salary range according to the following plan: The numbers 1,2,3,4, and 5, respectively, denote the various steps in the pay range. Each step represents a five percent (5%) increase in salary above the previous step. Step 1 shall be paid upon initial employment except when a higher step in a salary range is authorized under Article 7.6 of this Memorandum. Step 2 shall be authorized upon receiving an overall rating equivalent to satisfactory, or above, after completion of twenty-six (26) pay periods of employment at Step 1. Step 3 shall be authorized upon receiving an overall rating equivalent to satisfactory, or above, after completion of twenty six (26) pay periods of employment at Step 2. Step 4 shall be authorized upon receiving an overall rating equivalent to satisfactory, or above, after completion of twenty six (26) pay periods of employment at Step 3. Step 5 shall be authorized upon receiving an overall rating equivalent to satisfactory, or above, after completion of twenty six (26) pay periods of employment at Step 4. Nothing in this section should be construed to prevent any pay for performance strategies.

Appears in 2 contracts

Samples: Memorandum of Understanding, Memorandum of Understanding

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!