Common use of Payment Formula Clause in Contracts

Payment Formula. a) During the term of the Plan, a participating Member will be paid grid salary and allowances as follows: Salary and Allowances Paid During: Three Years 66.667% 33.333% + interest* Four Years 75.0% 25.0% + interest* Five Years 80.0% 20.0% + interest* Six Years 83.333% 16.667% + interest* * Note: Interest will be earned on the portion withheld and will be paid annually. b) During the leave year, the deposits made in L16.08.6 a) above, plus any additional interest earned, shall be paid to the Bargaining Unit Member. c) The Leave of Absence shall be taken in the last year of the term selected, subject to L16.08.5 g) and L16.08.5 h).

Payment Formula. a) During the term of the Plan, a participating Member will be paid grid salary and allowances as follows: Salary and Allowances Paid During: Three Years 66.667% 33.333% + interest* Four Years 75.0% 25.0% + interest* Five Years 80.0% 20.0% + interest* Six Years 83.333% 16.667% + interest* * Note: Interest will be earned on the portion withheld and will be paid annually. b) During the leave year, the deposits made in L16.08.6 16.08.6 a) above, plus any additional interest earned, shall be paid to the Bargaining Unit Member. c) The Leave of Absence shall be taken in the last year of the term selected, subject to L16.08.5 g16.08.5 h) and L16.08.5 h16.08.5. i).

Payment Formula. a) During the term of the Plan, a participating Member will be paid grid salary and allowances as follows: Salary and Allowances Paid During: Three Years 66.667% 33.333% + interest* Four Years 75.0% 25.0% + interest* Five Years 80.0% 20.0% + interest* Six Years 83.333% 16.667% + interest* * Note: Interest will be earned on the portion withheld and will be paid annually. b) During the leave year, the deposits made in L16.08.6 16.08.6 a) above, plus any additional interest earned, shall be paid to the Bargaining Unit Member. c) The Leave of Absence shall be taken in the last year of the term selected, subject to L16.08.5 16.08.5 g) and L16.08.5 16.08.5 h).

Payment Formula. a) During the term of the Plan, a participating Member will be paid grid salary and allowances as follows: Salary and Allowances Paid During: Three Years 66.667% 33.333% + interest* Four Years 75.0% 25.0% + interest* Five Years 80.0% 20.0% + interest* Six Years 83.333% 16.667% + interest* * Note: Interest will be earned on the portion withheld and will be paid annually. b) During the leave year, the deposits made in L16.08.6 16.08.6 a) above, plus any additional interest earned, shall be paid to the Bargaining Unit Member. c) The Leave of Absence shall be taken in the last year of the term selected, subject to L16.08.5 16.08.5 g) and L16.08.5 16.08.5. h).

Payment Formula. a) During the term of the Plan, a participating Member will be paid grid salary and allowances as follows: Salary and Allowances Paid During: Term Teaching Period Leave Period Three Years 66.667% 33.333% + interest* Four Years 75.0% 25.0% + interest* Five Years 80.0% 20.0% + interest* Six Years 83.333% 16.667% + interest* * Note: :Interest will be earned on the portion withheld and will be paid annually. b) During the leave year, the deposits made in L16.08.6 16.08.6 a) above, plus any additional interest earned, shall be paid to the Bargaining Unit Member. c) The Leave of Absence shall be taken in the last year of the term selected, subject to L16.08.5 g16.08.5 h) and L16.08.5 h16.08.5. i).