Parity Incentive Compensation Sample Clauses

Parity Incentive Compensation. The added cost of the highest step on the part-time hourly and overload faculty salary schedule shall be paid with state parity Funds. Parity Funds not expended shall be carried over and banked. In the event that State Parity Funding is eliminated or insufficient to pay for this Step, the available funding, if any, shall be pro-rated. In the event that State Parity Funding is paid in a manner different from the way it was paid in the 2003-2004 academic year, the parties shall meet and negotiate in good faith to implement the intent of this provision.
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Parity Incentive Compensation. The added cost of the highest step on the part-time hourly and overload faculty salary schedule shall be paid with state parity Funds. Parity Funds not expended shall be carried over and banked. In the event that State Parity Funding is eliminated or insufficient to pay for this Step, the available funding, if any, shall be pro-rated. In the event that State Parity Funding is paid in a manner different from the way it was paid in the 2003-2004 academic year, the parties shall meet and negotiate in good faith to implement the intent of this provision. The Board of Trustees and UFO continue to be committed to improving the total compensation for our part-time faculty members. Part-time faculty office hours have been formally instituted and the District and the UFO have agreed on working together towards defining parity. The parties value the service and commitment of our new and long-term faculty and will continue to work together during the 2022-23 negotiations to address parity. The district and the UFO agree that 70 percent of full-time salary is the minimum starting point for a definition of parity for part-time faculty pay. The hourly definition of parity with this starting point is 70 percent of full-time salary divided by 30 further divided by 18 for lecture assignments or 21 for lab assignments. The parity definition is a guide to measure if the District is moving towards or has achieved parity. This definition is not a commitment on the part of the district to achieve parity in a given time frame nor does it quantify service obligations for faculty beyond teaching duties.
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Related to Parity Incentive Compensation

  • Executive Compensation Until such time as the Investor ceases to own any debt or equity securities of the Company acquired pursuant to this Agreement or the Warrant, the Company shall take all necessary action to ensure that its Benefit Plans with respect to its Senior Executive Officers comply in all respects with Section 111(b) of the EESA as implemented by any guidance or regulation thereunder that has been issued and is in effect as of the Closing Date, and shall not adopt any new Benefit Plan with respect to its Senior Executive Officers that does not comply therewith. “Senior Executive Officers” means the Company's "senior executive officers" as defined in subsection 111(b)(3) of the EESA and regulations issued thereunder, including the rules set forth in 31 C.F.R. Part 30.

  • Educational Incentive Pay Effective January 1, 2022, the current Education Incentive Differential (EID) rates from the pre-existing salary schedules shall be eliminated and, in their place, the following Educational Incentive Pay program will be applied. The salary schedules contained in Addendum B reflect the new Educational Incentive pay allowances. Upon successful completion of field training and promotion to the rank of Police Officer, an officer who has received or obtains one of the degrees set forth below from an accredited college or university shall receive an annual incentive allowance added to their hourly rate, as follows: • $1,500 for associate’s degree ($0.723/hour) • $3,000 for bachelor’s degree ($1.446/hour) • $4,500 for master’s degree and above ($2.169/hour) Educational incentives are not cumulative, but rather the employee will be entitled to the highest incentive based on the degree(s) obtained. In the event an employee obtains a new or higher degree during employment, the employee will submit to the Department proof of degree attainment. Upon verification and approval by the Department, within thirty (30) days of submission, the employee’s pay will be adjusted effective on the first day of the pay period following the date of submission by the employee. Any current employee with an EID classification will be adjusted to the non-EID rate, but will receive the annual incentive allowance as part of their hourly rate, spread over twenty-six (26) pay periods. The hourly rate will be calculated by dividing the annual educational incentive by 2,074 hours. Educational incentive pay will be included in the regular rate for overtime purposes. In addition, it will be counted as part of the employee’s annual salary for pension purposes, consistent with the prevailing Fire & Police Employees Retirement System regulations, and reflected on the salary schedules.

  • ' COMPENSATION BENEFITS In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.

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