Rate Range and Discretionary Market Salary Increases Sample Clauses

Rate Range and Discretionary Market Salary Increases. The Company will establish and fully distribute salary adjustment funds in accordance with the dates set forth below. No increase adjustments to base pay will exceed the established Base Rate Range maximum. Engineers at rate maximums may receive lump sums in lieu of base salary increases. These lump sum increases will charge to the salary adjustment fund. 1 02/26/2013 07/01/2013 Market If Market Adjustment is greater than 3.0% , minimum increase of $750 per employee for all employees with a rating of Meets Expectations or higher on the most recent Performance Management Exercise 2 02/25/2014 07/01/2014 Whichever is Larger – Market or 3% If Market Adjustment is greater than 3.0% , minimum increase of $750 per employee for all employees with a rating of Meets Expectations or higher on the most recent Performance Management Exercise 3 02/24/2015 07/01/2015 Market If Market Adjustment is greater than 3.0% , minimum increase of $750 per employee for all employees with a rating of Meets Expectations or higher on the most recent Performance Management Exercise 4 02/24/2016 07/01/2016 Whichever is Larger – Market or 3% If Market Adjustment is greater than 3.0% , minimum increase of $750 per employee for all employees with a rating of Meets Expectations or higher on the most recent Performance Management Exercise 5 02/24/2017 07/01/2017 Market If Market Adjustment is greater than 3.0% , minimum increase of $750 per employee for all employees with a rating of Meets Expectations or higher on the most recent Performance Management Exercise 6 02/24/2018 07/01/2018 Market If Market Adjustment is greater than 3.0% , minimum increase of $750 per employee for all employees with a rating of Meets Expectations or higher on the most recent Performance Management Exercise (a) 1 The “Market” rate salary increase is to be determined by reviewing a number of factors which include: o A trend analysis (Summarized to comply with Agreements from Survey Providers) will be prepared by the Company and shared with SPEEA on an annual basis.  Consideration of mitigating factors which would include market differentiation and the relative leveling of positions.  Any other relevant factors which the parties agree upon. The Company will look at these factors, consult with the union and determine the increase percentage. The final determination shall be made by the Company and shall be not subject to the grievance and arbitration procedure detailed in Article 3.
Sample 1
AutoNDA by SimpleDocs
Rate Range and Discretionary Market Salary Increases. The Company will establish and fully distribute salary adjustment funds in accordance with the dates set forth below. No increase adjustments to base pay will exceed the established Base Rate Range maximum. Engineers at rate maximums may receive lump sums in lieu of base salary increases. These lump sum increases will charge to the salary adjustment fund. SELECTIVE MARKET SALARY ADJUSTMENT FUND COMPUTATION DATES, EFFECTIVE DATES, AND INCREASE PERCENTAGES Review Period Fund Computation Date Increase Effective Date First Full Payperiod Following Increase Percentage Minimum Increase** 1 0 2/26/20134 /1/2019 0 7/01/20137 /1/2019 M arketW hichever i s larger, Market or 3.5% Minimum of $1250 for any employee under comparatio o f 1.0I f Market Adjustment is greater than 3.0% , minimum increase of $750 per employee for all employees with a rating of Meets Expectations or higher on the most recent Performance Management Exercise 2 0 2/25/20144 /1/2020 0 7/01/20147 /1/2020 Whichever is L arger – Market o r 3% Market Minimum of $1250 for any employee under comparatio o f 1.0I f Market Adjustment is greater than 3.0% , minimum increase of $750 per employee for all employees with a rating of Meets Expectations or higher on the most recent Performance Management Exercise 5 0 2/24/20174 /1/2023 0 7/01/20177 /1/2023 Market Minimum of $1250 for any employee under comparatio o f 1.0I f Market Adjustment is greater than 3.0% , minimum increase of $750 per employee for all employees with a rating of Meets Expectations or higher on the most recent Performance Management Exercise 6 0 2/24/20184 /1/2024 0 7/01/20187 /1/2024 Market Minimum of $1250 for any employee under comparatio o f 1.0I f Market Adjustment is greater than 3.0% , minimum increase of $750 per employee for all employees with a rating of Meets Expectations or higher on the most recent Performance Management Exercise * * Minimum of $1250 for any employee under comparatio of 1.00 and with hire dates six m onths or more prior to the Fund Computation Date (a) 1 The “Market” rate salary increase is to be determined by reviewing a number of factors which include: o A trend analysis (Summarized to comply with Agreements from Survey Providers) will be prepared by the Company and shared with SPEEA on an annual basis.  Consideration of mitigating factors which would include market differentiation and the relative leveling of positions.  Any other relevant factors which the parties agree upon. The Company will look at the...
Sample 1

Related to Rate Range and Discretionary Market Salary Increases

  • Salary Increases The Employer agrees to pay the negotiated salary increases to every employee not later than the month following the month in which this Agreement is signed and not later than the month following the month in which any subsequent salary increases become effective.

  • Salary Increase Effective December 1, 2015, salary rates shall be increased by 2.25%.

  • Salary Increments The Employer may grant an increment for meritorious service after an Employee has served for a period of twelve (12) months following the day established in Article 25.07 or twelve (12) months following the date of a change in his rate of compensation as established in Articles 25.04, 25.05, or 25.06.

  • Annual Increases On each anniversary of Employee's termination from employment, any remaining amounts to be paid during the next year pursuant to this Paragraph 9 shall be increased to an amount equal to one hundred ten percent (110%) of the amounts required to be paid by Employer hereunder under the provisions of this Paragraph 9 during the preceding year.

  • Reallocation to a Class with a Lower Salary Range Maximum 1. If the employee meets the skills and abilities requirements of the position and chooses to remain in the reallocated position, the employee retains the existing appointment status and has the right to be placed on the Employer’s internal layoff list for the classification occupied prior to the reallocation. 2. If the employee chooses to vacate the position or does not meet the skills and abilities requirements of the position, the layoff procedure specified in Article 31 of this Agreement applies.

  • Share Class Annual Compensation Rate Class R-1 1.00% Class R-2 0.75% Class R-2E 0.60% Class R-3 0.50% Class R-4 0.25% Class R-5 No compensation paid Class R-5E No compensation paid Class R-6 No compensation paid If you hold Plan accounts in an omnibus account (i.e., multiple Plans in one account on the books of the Funds), Plans that are added to the omnibus account after May 15, 2002 may invest only in R shares, and you must execute an Omnibus Addendum to the Selling Group Agreement, which you can obtain by calling our Home Office Service Team at 800/421-5475, extension 8.

  • Step Increases (a) The following is the method used to determine service credit, since the last date of hire, for purposes of positioning on the salary range: i) all continuous service shall be retained and transferred with the employee if she/he changes her/his status from full-time to part- time and vice versa. ii) a part-time employee who changes status to full-time will be given credit on the basis of fifteen hundred (1500) paid hours of part- time being equivalent to one (1) year of full-time service and vice versa. iii) in addition, an employee who is so transferred will be given credit for paid hours accumulated since the date of last advancement. (b) Annual increments for full-time employees shall be paid on their anniversary date. (c) Annual increments for part-time employees shall be paid on the completion of each fifteen hundred (1500) hours worked.

  • Funding Increases Before the Funder can make an allocation of additional funds to the HSP, the parties will: (1) agree on the amount of the increase; (2) agree on any terms and conditions that will apply to the increase; and (3) execute an amendment to this Agreement that reflects the agreement reached.

  • Monthly Salary The words “monthly salary” when used in this Agreement shall mean: (Bi-weekly pay at regular rate of pay times 26.1) divided by 12 = monthly salary

  • Rate Increases In the event that this Agreement is renewed pursuant to Section 3.1.2, the rate set forth in Exhibit “C” may be adjusted each year at the time of renewal as set forth in Exhibit “C.”

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!