REALLOCATION TO A LOWER PAY RANGE Sample Clauses

REALLOCATION TO A LOWER PAY RANGE. In the event a position is reallocated to a classification which has a lower maximum pay range, the employee concerned shall normally be paid at the same rate of pay in the lower pay range. If the employee's rate of pay exceeds the maximum rate of the lower pay range, the employee's rate of pay shall be frozen (red-circled) until such time that the maximum rate, through general increases, makes sufficient upward movement so that it exceeds the employee's rate of pay. When the maximum rate meets or exceeds the employee's frozen (red-circled) rate through general increases, the employee's frozen rate of pay shall then increase to the maximum rate, and be eligible for all future increases, providing that such increases do not cause the pay rate to exceed the maximum rate. In the event a classification is reallocated to a lower maximum pay range, the same provisions shall apply as have been established for the reallocation of a position to a lower pay range.
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REALLOCATION TO A LOWER PAY RANGE. In the event a position is reallocated to a classification which has a lower maximum pay range, the employee concerned shall normally be paid at the same rate in the lower pay range. If the employee's rate of pay exceeds the maximum rate of the lower pay range, the employee's rate of pay shall be frozen (red-circled) until such time that the maximum rate, through general increases, makes sufficient upward movement so that it exceeds the employee's rate of pay. When the maximum rate meets or exceeds the employee's frozen (red-circled) rate through general increases, the employee's frozen rate of pay shall then increase to the maximum rate. However, if after one year the maximum rate does not meet or exceed the employee's frozen (red-circled) rate of pay, the employee's rate of pay will be reduced four and one-half percent (4.5%) or to the maximum rate, whichever results in the smallest decrease in pay. Each year thereafter, the employee's rate of pay shall be reduced an additional four and one-half percent (4.5%) or to the maximum rate, which ever results in the smallest decrease in pay. In the event a classification is reallocated to a lower maximum pay range, the same provisions shall apply as have been established for the reallocation of a position to a lower pay range.
Sample 1

Related to REALLOCATION TO A LOWER PAY RANGE

  • 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.

  • Reallocation to a Class with a Higher Salary Range Maximum Upon appointment to the higher class, the employee’s base salary will be increased to a step of the range for the new class that is nearest to five percent (5.0%) higher than the amount of the pre-promotional step, or to the entry step of the new range, whichever is higher.

  • Reallocation to a Class with an Equal Salary Range Maximum 1. If the employee meets the skills and abilities requirements of the position, the employee remains in the position and retains existing appointment status.

  • Maximum Contribution The total amount you may contribute to an IRA for any taxable year cannot exceed the lesser of 100 percent of your compensation or $6,000 for 2019 and 2020, with possible cost- of-living adjustments each year thereafter. If you also maintain a Xxxx XXX (i.e., an IRA subject to the limits of Internal Revenue Code Section (IRC Sec.) 408A), the maximum contribution to your Traditional IRAs is reduced by any contributions you make to your Xxxx IRAs. Your total annual contribution to all Traditional IRAs and Xxxx IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your compensation.

  • Allocation of Tranche Write-down Amounts to the Reference Tranches On each Payment Date on or prior to the Termination Date, the amount, if any, of the Tranche Write- down Amount for that Payment Date will be allocated, first, to reduce any Overcollateralization Amount for such Payment Date, until such Overcollateralization Amount is reduced to zero, and, second, to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

  • Allocation of Tranche Write-up Amounts to the Reference Tranches On each Payment Date on or prior to the Termination Date, the Tranche Write-up Amount, if any, for such Payment Date will be allocated to increase the Class Notional Amount of each Class of Reference Tranche in the following order of priority until the cumulative Tranche Write-up Amounts allocated to each such Class of Reference Tranche is equal to the cumulative Tranche Write-down Amounts previously allocated to such Class of Reference Tranche on or prior to such Payment Date:

  • OPWC/Local Subdivision Participation Percentages For the sole and express purpose of financing/reimbursing costs of the Project, the estimated costs of which are set forth and described below, the Recipient hereby designates its Local Subdivision Percentage Contribution as amounting to a minimum total value of 50% of the total Project Cost. The OPWC Participation Percentage shall be 50% not to exceed $100,000.

  • Allocation of Subordinate Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Senior Reduction Amount and the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Subordinate Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

  • Allocation of Senior Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Senior Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

  • Maximum Contract Amount 4.4.1. Notwithstanding any other provision of this Agreement, the City’s maximum payment obligation will not exceed ($_) (the “Maximum Contract Amount”). The City is not obligated to execute an agreement or any amendments for any further services, including any services performed by the Contractor beyond that specifically described in Exhibit A. Any services performed beyond those in Exhibit A or performed outside the Term are performed at the Contractor’s risk and without authorization under this Agreement.

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