Periodic Increment Date Sample Clauses
The Periodic Increment Date clause establishes specific dates on which certain amounts, such as rent or fees, will increase according to a predetermined schedule. Typically, this clause outlines the frequency of these increments—such as annually or every few years—and may specify the method for calculating the increase, like a fixed percentage or an index-based adjustment. Its core practical function is to provide predictability and transparency for both parties regarding future financial obligations, thereby reducing disputes and ensuring that payment terms remain fair and up-to-date over time.
Periodic Increment Date. The date upon which a RN is scheduled to move to a higher salary step within their range and vacation accrual level. Leave with pay shall not alter a nurse’s compensation or status with the Employer. Leave without pay for a period of ten working days or less shall not alter a nurse's periodic increment date or the amount of vacation pay or sick leave credits that would otherwise be earned by him/her. When a leave of absence without pay exceeds ten (10) working days or eighty (80) hours in any calendar month, the periodic increment date will be extended by one month except where the leave of absence is the result of work-related injury or military service.
Periodic Increment Date. An employee establishes their periodic increment date at the time of hire for a regular position, consistent with 21.11 (2).
Periodic Increment Date. 1. An employee establishes their periodic increment date at the time of hire for a regular position, consistent with 21.11 (2).
2. For purposes for payment of periodic increment increases, the effective date shall be determined as follows:
a. The first of the current month for actions occurring between the first and the fifteenth of the month;
b. The first of the following month for actions occurring between the sixteenth and the end of the month.
3. The periodic increment date of all employees may be modified as follows:
a. When a leave of absence without pay exceeds ten (10) working days in any calendar month or exceeds ten (10) consecutive working days, the date will be extended by one month;
b. When employees return from layoff status, the date will be reestablished and extended by an amount of time equal to the period of layoff in order to give credit for time served in a salary step prior to layoff;
c. When a cyclic year position leave of absence without pay exceeds ninety calendar days, the periodic increment date shall be extended on a month-for-month basis. Provision (a) of this subsection shall apply to that period exceeding the ninety calendar days.