Compensation and Benefits Subject to the terms and conditions of this Agreement, during the Employment Period, while Executive is employed by the Employer, the Employer shall compensate Executive for Executive’s services as follows for periods following the Effective Date: (a) Executive shall be compensated at an annual rate of $290,000 (the “Annual Base Salary”), which shall be payable in accordance with the Employer’s normal payroll practices as are in effect from time to time. Beginning on January 1, 2012 and on each anniversary of such date, Executive’s rate of Annual Base Salary shall be reviewed by the Compensation Committee (the “Compensation Committee”) of the Board of Directors of the Company (the “Board”), and following such review, the Annual Base Salary may be adjusted upward but in no event will it be decreased. (b) Executive shall be entitled to receive performance based annual incentive bonuses (each, the “Incentive Bonus”) from the Employer for each fiscal year ending during the Employment Period. Any such Incentive Bonus shall be paid to Executive within thirty (30) days of the completion of the annual audit by the Company’s auditor, but in no event later than two and one-half months after the close of each such fiscal year. Executive’s target Incentive Bonus shall be not less than forty percent (40%) of the Annual Base Salary, which Incentive Bonus shall be determined by specific performance criteria established from time to time by the Compensation Committee. (c) Executive shall be eligible to participate, subject to the terms and conditions thereof, in all other incentive plans and programs, including such cash and deferred bonus programs and equity incentive plans as may be in effect from time to time with respect to senior executives employed by the Employer on as favorable a basis as provided to other similarly situated senior executives. Executive and Executive’s dependents, as the case may be, shall be eligible to participate in all pension and similar benefit plans (qualified, non-qualified and supplemental), profit sharing, 401(k), as well as all medical and dental, disability, group and executive life, accidental death and travel accident insurance, and other similar welfare benefit plans and programs of the Employer, subject to the terms and conditions thereof, as in effect from time to time with respect to senior executives employed by the Employer on as favorable a basis as provided to other similarly situated senior executives. (d) Executive shall be entitled to accrue vacation at a rate of no less than four (4) weeks paid vacation for each calendar year, subject to the Employer’s vacation programs and policies as may be in effect during the Employment Period. (e) Executive shall be reimbursed by the Employer, on terms and conditions that are substantially similar to those that apply to other similarly situated executives of the Employer, for reasonable out-of-pocket expenses for entertainment, travel, meals, lodging and similar items which are consistent with the Employer’s expense reimbursement policy and actually incurred by Executive in the promotion of the Employer’s business.
PROFESSIONAL COMPENSATION A. The salaries and supplemental Schedule B stipends of teacher covered by this Agreement are set forth in Schedules "A" and "B" which are attached to and incorporated in this Agreement. B. Outside teaching experience in schools of approved standing may be granted at full credit. This provision shall not be retroactive prior to the date of this contract. C. Salary adjustments for advanced training will be made twice each year at the beginning of each semester (pro-rated for second semester) for training completed prior to either date at a state accredited college or university. It shall be the responsibility of the teacher to notify the personnel office within thirty (30) days of the completion of the necessary work and/or confirmation of the degree. D. When normal daily load of any teacher is expanded through assignment of extra students or by changing teacher’s assignment for the day to provide for lack of substitutes, or to provide intervention services via an independent program, said teacher shall be paid $25.00 per class in the Senior High and Middle School. When pupils in any elementary class are divided among several teachers, said teachers shall be paid at a total rate per day not to exceed substitute pay plus $5.00 and to be divided among teachers involved. When any senior high or Middle School teacher forgoes his/her preparation period on an ongoing basis to take a teaching assignment, other than as a substitute for a teacher absent from their classroom, or to provide intervention services via an independent program, said teacher shall be paid one-sixth of their daily rate for the Middle School and 1/5 for the High School per lost preparation period. All available qualified teachers shall have the opportunity to voluntarily apply for such an assignment. E. Teachers shall be paid their regular salaries (not to include Schedule B duties) according to one of the following schedules with each staff member having the option of choosing one of these schedules which shall be indicated no later than the first week of school. 1. Payment of twenty-six (26) or twenty-one (21) equal installments with deductions and withholdings as indicated by the salary schedule. 2. Those staff members who elect the twenty-six (26) payment schedule may select one of two options: a. A lump sum, "balloon" payment representing six (6) equal installments on the last pay date of the school year; b. Continue to receive a paycheck every two weeks throughout the summer until the 26th pay is reached. F. When paydays fall on or during a vacation period, checks shall be issued on the last school day prior to said vacation period except where cash flow will not permit as determined by the Board. Such checks will be cashable on the date issued and shall be reported as income in accordance with I.R.S. tax codes. G. Any teacher employed outside the school calendar year shall be compensated as described in section E.
REMUNERATION AND BENEFITS 3.1 Manitoba shall pay to Employee as remuneration for her services, within the Executive Assistant to the Minister (EXM) classification, a basic annual salary of $58,271 payable in equal bi-weekly installments of $2,233.73, at the accepted regular Manitoba Civil Service pay periods, pro-rated where necessary for any shorter period. 3.2 Manitoba shall make: (a) all deductions required in respect of Income Tax, Canada Pension Plan, Employment Insurance; and (b) any other deductions required to be made from payments to Employee, whether in accordance with any applicable laws or statutes, or otherwise; and (c) any deductions requested by Employee and agreed to by Manitoba. 3.3 The remuneration to Employee shall be adjusted at such times as salary adjustments are made in the salary range of excluded employees in the employ of Manitoba. 3.4 Employee shall be considered as an employee for purposes of The Civil Service Superannuation Act. 3.5 Employee is entitled to participate fully in the group benefit programs that have been or may be established for the employees of Manitoba including its programs relating to group insurance, long-term disability, and health benefits programs, comparable to those provided to civil servants. Employee will be eligible to participate in the group benefit programs after the waiting periods established by Manitoba. The waiting periods commence on the effective date as per section 1.1. 3.6 Employee, with the approval of Manitoba, is eligible to receive other benefits normally granted to employees employed by Manitoba.