Common use of Overload and Stipend Pay Warrants Clause in Contracts

Overload and Stipend Pay Warrants. All unit members shall be paid for their overload teaching assignments and/or stipends in five (5) payments during each semester in which they perform overload/stipend hours. The first payment shall reflect the hours worked between the beginning of the semester and the end of the month in which the semester began. The overload/stipend balance shall be paid in equal payments over the remaining four (4) months, determined by subtracting the first month payment and then computing the remainder overload/stipend compensation as defined by the formula described in Article 17.5 and 17.13 of this agreement and dividing by four (4). Overload and stipends will be included in the contract pay warrant issued the last working day of the month, with the exception of the first month of each semester. Pay warrants for overload and stipends performed during the first month of a semester will be paid on the 10th of the following month, or on the last working day preceding the 10th should the 10th fall on a weekend or holiday.