Merit Pay Premium Sample Clauses

Merit Pay Premium. 1. Regular full-time employee who are paid at Step “c” or “d” under the terms of this Program shall receive premium pay in the amount of one and one half percent (1.5%) of their annual base salary upon receipt of an annual performance evaluation of “Outstanding”. This premium pay will not be an adjustment of base salary and will be made in twelve (12) equal monthly installments.
Sample 1Sample 2Sample 3See All (5)
AutoNDA by SimpleDocs
Merit Pay Premium. Effective the first day of the pay period containing July 1 of each year, or the pay period containing January 1 of each year, whichever is applicable, all represented employees who are at Step “c”, “d” or “e” (i.e. at Step “e” for less than one year), and who receive an “Outstanding” Overall Rating on their annual performance appraisal, shall receive additional premium pay in the amount of one and one half percent (1.5%) of their annual base salary. This premium pay is not added to base salary and will be made in twelve
Sample 1

Related to Merit Pay Premium

  • Holiday Premium Pay A Nurse working on a recognized Holiday is entitled to the following compensation for any hours worked on the calendar date of the recognized Holiday:

  • Holiday Premium If an employee works one of the following holidays, they will receive time and one half for all hours worked on that holiday: New Year’s Day, Xxxxxx Xxxxxx Xxxx Xx. Day, President’s Day, Memorial Day, Independence Day, Labor Day, Veteran’s Day, Thanksgiving, the Day after Thanksgiving, and Christmas.

  • Premium Pay “Premium Pay” is a special pay rate for working during times that are less desirable, such as weekends, holidays or late shifts. The City will not pay the Consultant Premium Pay.

  • Longevity Premium From the start of the sixty-first (61st) full month to and including the one hundred twentieth (120th) full month of continuous employment, permanent employees shall be paid a longevity premium of two percent (2%).

  • Premium Payments If an employee with at least three years of service in the employ of the Shaker Heights Board of Education should exhaust his/her sick leave within the time specifications of this contract and is granted a leave of absence by the Board, the Board shall continue to pay his/her premiums in accordance with his/her work assignment for the following fringe benefits for a period not to exceed twelve (12) months. The payment of such premiums will cease on the effective date an employee retires, resigns, goes on disability retirement or his/her contract is terminated.

  • Sunday Premium All hours worked by an Employee on Sunday, shall be paid for on the basis of one and one-half (1½) times the Employee’s Regular Rate of Pay. For the purpose of this Section, Sunday shall be deemed to be the twenty-four (24) hours beginning with the shift change hour nearest to 12:01 a.m.

  • Premium Payment The Bank shall pay any premiums due on the Policy.

  • Reimbursement Premium (1) The Company shall, in a timely manner, pay the SBA its Reimbursement Premium for the Contract Year. The Reimbursement Premium for the Contract Year shall be calculated in accordance with Section 215.555, Florida Statutes, with any rules promulgated thereunder, and with Article X(2).

  • Flexible Spending Account The parties agree that the State shall have the right to use State Employee Health Plan funds to cover the administrative costs of operating the medical and dependent care flexible spending account programs.

  • Reimbursement Payments The Department shall, to the extent funds are available, reimburse the Grantee for eligible claims presented for payment if the Department determines the requirements for reimbursement have been met. Claims under this Contract can only be made for the period this Contract is in effect. Reimbursement programs include the following:

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