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. TABLE I SELECTIVE MARKET SALARY ADJUSTMENT FUND COMPUTATION DATES, EFFECTIVE DATES, AND INCREASE PERCENTAGES Review Period Fund Computation Date Increase Effective First Full Payperiod Following Increase Percentage Minimum Increase 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
Sample 1
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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. TABLE I 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
Sample 1

Related to Rate Range and Discretionary Market Salary Increases

  • SALARY STEP INCREASES a. Increases to steps above the entry step shall be based on performance and length of service. The employee must have earned the equivalent of at least twenty-six

  • Salary Increases During the period of employment as provided in Paragraph 1(b) hereof, the base salary of the Executive shall be reviewed no less frequently than annually by the Board or the Compensation Committee of the Board to determine whether or not the same should be increased in light of the duties and responsibilities of the Executive and the performance thereof, and if it is determined that an increase is merited, such increase shall be promptly put into effect and the base salary of the Executive as so increased shall constitute the base salary of the Executive for purposes of Paragraph 3(a).

  • Salary Increase 46.01 Effective July 1, 2020 an increase equal to 1% will be added to the job rates and to the salaries of all employees. Effective July 1, 2021 an increase equal to 1% will be added to the job rates and to the salaries of all employees. Effective July 1, 2022 an increase equal to 1% will be added to the job rates and to the salaries of all employees.

  • 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 first day of the month established in Article 35.07 or twelve (12) months following the date of a change in his rate of compensation as established in Articles 35.04, 35.05, or 35.06.

  • General Salary Increase 1. Effective with the start of the pay week commencing closest to September 1, 2013, employees shall be provided an across-the-board salary increase of one percent (1%). Salary schedules shall be increased accordingly.

  • 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 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.

  • Lower Salary Level An employee who accepts another position with a lower salary range will be paid an amount equal to his or her current salary, provided it is within the salary range of the new position. In those cases where the employee’s current salary exceeds the maximum amount of the salary range for the new position, the employee will be compensated at the maximum salary of the new salary range.

  • 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:

  • Funding Increases Before the Funder can make an allocation of additional funds to the HSP, the parties will:

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