Base Salary During the Employment Term, the Company shall pay the Executive annual base salary (the "Base Salary") at the annual rate no less than the rate of base salary in effect as of the Effective Date. Base Salary shall be payable in regular installments in accordance with the Company's usual payroll practices. The Management Compensation Committee of the Board (the "Compensation Committee") shall review Base Salary for the purpose of increasing it in accordance with its normal review procedures.
Base Compensation a. The Company and the Bank agree to pay Executive during the term of this Agreement a base salary at the rate of $ per year, payable in accordance with customary payroll practices.
Annual Salary Executive's compensation shall consist of an annual base salary (the "Annual Salary") of one hundred fifty thousand dollars ($150,000), before all customary payroll deductions. The Annual Salary shall be reviewed, and shall be subject to change, by the Board of Directors of Employer (or the Compensation Committee thereof) at least annually while Executive is employed hereunder.
Salary No salary will be paid to a Member for the performance of his or her duties under this Agreement unless the salary has been approved in writing by a Majority of the Members.
Current Salary Level An employee who accepts another position with his or her current salary range will retain his or her current salary.
Minimum Salaries 12.1 The minimum base salary for all Bargaining Unit members shall be as follows: Rank Effective 9/1/2016 Professor $77,510 Assoc. Professor $62,520 Asst. Professor $51,325 Instructor $43,835 Senior Librarian $77,510 Assoc. Sr. Librarian $66,270 Assoc. Librarian $60,730 Asst. Librarian $51,325 Beg. Librarian $43,835 Faculty Members earning a base salary below the effective minima shall move to the new minima and receive any across-the-board and compression increase under Article 10 on his or her minima. Faculty Members who will receive regional campus increases under Article 10 of this Agreement shall receive those increases before any adjustment to meet the minimum salary required by this Article.
General Salary Increase 1. Effective with the start of the pay week commencing closest to September 1, 2013, employees shall be provided an across-the-board salary increase of one percent (1%). Salary schedules shall be increased accordingly.
Lower Salary Level An employee who accepts another position with a lower salary range will be paid an amount equal to his or her current salary, provided it is within the salary range of the new position. In those cases where the employee’s current salary exceeds the maximum amount of the salary range for the new position, the employee will be compensated at the maximum salary of the new salary range.