OPTION FOR ANNUALISED SALARY Sample Clauses

OPTION FOR ANNUALISED SALARY. By agreement between the employer and the employee, an employee can be paid at an annualised rate which is made up of the Agreement rate and an additional component.
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OPTION FOR ANNUALISED SALARY. 22.7.1 By agreement between the employer and the employee, an employee can be paid at an annualised rate which is made up of the Part A rate and an additional component. 22.7.2 In such cases, the agreement may provide that the provisions of the following award clauses do not apply: • Overtime/penalty rates and meeting allowances; • Time off in lieu of overtime payment; • Call back and availability allowances; • Allowances and expenses; • Annual leave loading; • Higher duties; • Worksite flexibility; • Instruments and quarters. Provided that the annualised rate was sufficient to cover what the employee would have been entitled to if all award required payments, including penalty rate payments and allowances, had been complied within the year. The additional payment may be taken in the form of a non salary benefit such as an employer provided motor vehicle. 22.7.3 Provided further in the event of termination of employment prior to completion of a year, the annualised rate paid during such period of employment will be sufficient to cover what the employee would have been entitled to if all award overtime payments, penalty rate payments and obligations had been complied with. 22.7.4 An agreement under this clause: • Must be in writing and signed by both parties; and • Xxxxxx recorded in the time and wage records kept by the employer in accordance with Part 9A, Division I of the Workplace Relations Regulations, or a notation placed in the record as to where a copy of the agreement may be inspected; and • Provide an annual review of the agreement; and • Provide for access to The Fair Work Commission for dispute resolution in accordance with the award dispute resolution procedure. 22.7.5 The employee may be represented in the discussions in relation to the making of an Agreement under this clause by either their union or nominated representative.
OPTION FOR ANNUALISED SALARY. 25.20.1. By agreement between the employer and the employee, an employee can be paid at an annualised rate which is made up of the rates provided in this agreement and an additional component.
OPTION FOR ANNUALISED SALARY. Can the Hotel pay you an annual salary?
OPTION FOR ANNUALISED SALARY. 11.3.1 By agreement between QVM and an Employee, an Employee can be paid at an annualised rate which is made up of the appropriate salary rate under Schedule 1 of this Agreement and an additional component subject to this clause 11.3. 11.3.2 In such cases, the annualised salary agreement may provide that the following provisions do not apply: a) Overtime/penalty rates and meeting allowances; b) Time off in lieu of overtime payment; c) Call back and availability allowances; d) Allowances and expenses; e) Annual leave loading; f) Higher duties. 11.3.3 Provided that the annualised rate is sufficient to cover what the Employee would have been entitled to if all required payments, including penalty rate payments and allowances, had been made within the year. The additional payment may be taken in the form of a non salary benefit. 11.3.4 Further, in the event of termination or cessation of employment prior to completion of the relevant year, the annualised rate paid during such period of employment is to be sufficient to cover what the Employee would have been entitled to if all required payments, including penalty rate payments and allowances, had been made within the period. The additional payment may be taken in the form of a non salary benefit. 11.3.5 An annualised salary agreement under this clause: a) must be in writing and signed by QVM and the Employee; and b) be recorded in either or both of the time and wage records kept by QVM in accordance with Division 3 of Part 3-6 of the Regulations, or a notation placed in the record as to where a copy of the agreement may be inspected; and c) provide for an annual review of the agreement; and d) provide that the agreement may be terminated by either QVM or the Employee by giving at least three (3) months notice in writing of intention to terminate the agreement; and e) may be referred to the FWC for dispute resolution in accordance with the dispute resolution procedure at clause 10 of this Agreement should a grievance or dispute arise while the annualised salary agreement is in operation. 11.3.6 The Employee may be represented in the discussions in relation to the making of an annualised salary agreement under this clause by the Employee’s nominated representative (which may include the Union).
OPTION FOR ANNUALISED SALARY a) By agreement between ERLC and the employee, an employee can be paid at an annualised rate which is made up of the award rate and an additional component. b) In such cases, the agreement may provide that the provisions of the following award clauses do not apply: i. overtime/penalty rates and meeting allowances; ii. time off in lieu of overtime payment; iii. call back and availability allowances; iv. allowances and expenses; v. Annual leave loading; vi. higher duties; vii. worksite flexibility; viii. instruments and quarters. c) Provided that the annualised rate was sufficient to cover what the employee would have been entitled to if all award required payments, including penalty rate payments and allowances, had been complied within the year. The additional payment may be taken in the form of a non-salary benefit such as an ERLC-provided motor vehicle. d) Provided further in the event of termination of employment prior to completion of a year, the annualised rate paid during such period of employment will be sufficient to cover what the employee would have been entitled to if all award overtime payments, penalty rate payments and obligations had been complied with. e) An agreement under this clause must: i. be in writing and signed by both parties; and ii. be either recorded in the time and wage records kept by ERLC in accordance with Part 9A, Division I of the Workplace Relations Regulations, or a notation placed in the record as to where a copy of the agreement may be inspected; and
OPTION FOR ANNUALISED SALARY. (a) By agreement between Council and an employee, the employee may be paid at an annualised rate which is made up of the minimum salary rate for the relevant classification and an additional component. (b) In such cases, the annual rate may provide that some or all of the following provisions of the of the Agreement do not apply: (i) Overtime and penalty rates (ii) Time in lieu of overtime payment (iii) On Call and Availability Allowances (iv) Allowances (v) Annual Leave Loading. Part or all of the additional component may be taken in the form of a non-salary benefit such as provision of a Council provided motor vehicle. (c) In the event of termination of employment prior to completion of a year, the annualised rate paid during such period of employment will be sufficient to cover what the employee would have been entitled to if all Agreement overtime payments, penalty rate payments and obligations had been complied with. (d) An agreement under this clause must: (i) be in writing and signed by both parties; and (ii) be recorded in the time and wage records kept by Council in accordance with the Fair Work Regulations, or a notation must be placed in the record as to where a copy of the agreement may be inspected; and (iii) provide an annual review of the agreement (to ensure the employee is not worse off under the annualised arrangement); and (iv) provide access to the Dispute Settlement Procedures in this Agreement (see clause 3.4). (e) The employee may be represented in any discussions relating to the making or review of an agreement under this clause.
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Related to OPTION FOR ANNUALISED SALARY

  • Average Annual Compensation The Executive's "Average Annual Compensation" for purposes of this Agreement shall be deemed to mean the average level of compensation paid to the Executive by the Employers or any subsidiary thereof during the most recent five taxable years preceding the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of the Employers.

  • HOLIDAY COMPENSATION FOR TIME WORKED 110. Employees required by their respective appointing officers to work on any of the above specified or substitute holidays, excepting Fridays observed as holidays in lieu of holidays falling on Saturday, shall be paid extra compensation of one additional day's pay at time-and-one-half the usual rate in the amount of 12 hours pay for 8 hours worked or a proportionate amount for less than 8 hours worked provided, however, that at the employee's request and with the approval of the appointing officer, an employee may be granted compensatory time off in lieu of paid overtime pursuant to the provisions of Section III.E.2. 111. Executive, administrative and professional employees designated in the Annual Salary Ordinance with the "Z" symbol shall not receive extra compensation for holiday work but may be granted time off equivalent to the time worked at the rate of-one-and-one-half times for work on the holiday.

  • Annual Compensation The Executive's "Annual Compensation" for purposes of this Agreement shall be deemed to mean the highest level of base salary paid to the Executive by the Employers or any subsidiary thereof during any of the three calendar years ending during the calendar year in which the Date of Termination occurs.

  • Base Annual Salary “Base Annual Salary” means the greater of (1) the highest annual rate of base salary in effect for the Executive during the 12 month period immediately prior to a Change in Control or, (2) the annual rate of base salary in effect at the time Notice of Termination is given (or on the date employment is terminated if no Notice of Termination is required).

  • Share Class Annual Compensation Rate Class R-1 1.00% Class R-2 0.75% Class R-2E 0.60% Class R-3 0.50% Class R-4 0.25% Class R-5 No compensation paid Class R-5E No compensation paid Class R-6 No compensation paid If you hold Plan accounts in an omnibus account (i.e., multiple Plans in one account on the books of the Funds), Plans that are added to the omnibus account after May 15, 2002 may invest only in R shares, and you must execute an Omnibus Addendum to the Selling Group Agreement, which you can obtain by calling our Home Office Service Team at 800/421-5475, extension 8.

  • Annual Bonus Compensation Executive shall be eligible to receive a bonus each Contract Year (“Annual Bonus”) as the Compensation Committee of the Board of Directors shall determine. Executive’s Annual Bonus shall be determined in accordance with the Company’s executive compensation policies as in effect from time to time during the Term and shall be based, in part, on his achieving his individual performance goals for the year and, in part, on the Company’s achieving its performance goals for the year.

  • Bonus Compensation During the term hereof, the Executive shall participate in the Company’s Senior Executive Annual Incentive Plan, as it may be amended from time to time pursuant to the terms thereof (the “Plan,” a current copy of which is attached hereto as Exhibit A) and shall be eligible for a bonus award thereunder (the “Bonus”). For purposes of the Plan, the Executive shall be eligible for a Bonus, and the Executive’s specified percentage (the “Specified Percentage”) for such Bonus shall initially be fifty percent (50%) of Base Salary and shall thereafter be established annually by the Board of Directors (the “Board”) or, if the Board delegates the Specified Percentage determination process to a Committee of the Board, by such Committee. In the event the Board or Committee does not approve the Executive’s Specified Percentage within 90 days of the beginning of a fiscal year, such Specified Percentage shall be the same as the immediately preceding year. Whenever any Bonus payable to the Executive is stated in this Agreement to be prorated for any period of service less than a full year, such Bonus shall be prorated by multiplying (x) the amount of the Bonus otherwise earned and payable for the applicable fiscal year in accordance with this Sub-Section 4.2 by (y) a fraction, the denominator of which shall be 365 and the numerator of which shall be the number of days during the applicable fiscal year for which the Executive was employed by the Company. Executive agrees and understands that any prorated Bonus payments will be made only after determination of the achievement of the applicable Performance Measures (as defined in the Plan) in accordance with the terms of the Plan. Any compensation paid to the Executive as Bonus shall be in addition to the Base Salary.

  • Annual Base Salary During the Term, Executive shall receive a base salary at a rate of $550,000 per annum (as increased from time to time, the “Annual Base Salary”), which shall be paid in accordance with the customary payroll practices of the Company. Such Annual Base Salary shall be reviewed (and may be increased, but not decreased) from time to time by the Board or an authorized committee of the Board.

  • Base Salary and Bonus As compensation for the Executive's services under this Agreement, the Executive shall receive and the Company shall pay a weekly base salary set forth on Exhibit A. Such base salary may be increased but not decreased during the Term or Renewal Period in the Company's discretion based upon the Executive's performance and any other factors the Company deems relevant. Such base salary shall be payable in accordance with the policy then prevailing for the Company's executives. In addition to such base salary, the Executive shall be entitled during the Term or Renewal Period to a performance bonus set forth on Exhibit A and to participate in and receive payments from, at the Company's election, other bonus and other incentive compensation plans, if any, as may be adopted by the Company.

  • Compensation for Work on a Holiday (a) Where an Employee is regularly scheduled to work, in accordance with Article 14, and their regularly scheduled day of work falls on a paid holiday, as defined in Article 18.01, they shall receive compensation equal to two and one-half (2 ½) times their regular rate of pay as follows: (i) compensation at one and one-half (1½) times their regular rate of pay, including the holiday pay, for the hours worked on the holiday; and (ii) time off with pay in lieu of the holiday on an hour-for-hour basis at a mutually acceptable time in accordance with Article 18.11. (b) Where time off with pay in lieu of the holiday has not been granted in accordance with Article 18.05(a)(ii), compensation shall be granted at the Employee’s regular rate of pay for those hours worked on the holiday.

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