Placement on Salary Scale. When a Unit IV employee is promoted to a position one salary grade higher than the old position, the hourly rate of pay shall be adjusted by five percent (5%) if the promotion is one (1) grade, by ten percent (10%) if the promotion is two (2) grades or more. At that time, the employee shall be placed on the step closest to but greater than the computed amount.
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Samples: Negotiated Agreement, Negotiated Agreement, Negotiated Agreement