Regular Compensation. The Company shall pay to the Executive as compensation for his services and for his covenants and other obligations hereunder an annual base salary (the “Salary”) in the amount of One hundred sixty seven thousand three hundred seventy five Dollars ($167,375.00), payable in accordance with the regular and customary payroll practices of the Company. The Salary may be increased from time to time by action of the CEO/President or the Compensation Committee of the Board of Directors of the Company.
Regular Compensation. The Company shall pay to the Employee and the Employee shall accept from the Company, as compensation for his services and for his covenants and other obligations hereunder, the gross bi-weekly salary of $5,769.23. Employee's salary will be reviewed annually, consistent with the Company's compensation policies.
Regular Compensation. For all services rendered by Executive under this Agreement, Employer shall pay Executive in accordance with the normal payment practices of the Company an annual salary of Two Hundred Thousand Dollars ($200,000), which base annual compensation shall increase by ten (10) percent each year during the second and third years of this Agreement on the anniversary date of the commencement of Executive's employment.
Regular Compensation. The Employer shall pay to the Executive, as compensation for his services and for his covenants and other obligations hereunder, a salary at the rate of Two Hundred Thousand ($200,000) per annum (the “Base Salary”); payable in accordance with the regular and customary payroll practices of the Employer and subject to applicable taxes and withholding. During the remainder of the Term, the Executive’s salary shall not be less than that amount absent his approval, and shall be subject to increase at the discretion of the Employer’s Board of Directors. However, if the Employer’s Board of Directors institutes a company-wide cost cutting initiative including reducing salaries for all comparable-level executives, then the Employer may reduce the Executive’s salary by an amount not to exceed 10% without breach of this agreement. The Executive shall also participate in a cash incentive compensation plan as may be reasonably prescribed by the Employer under which the Executive shall be eligible for a bonus of Two Hundred Thousand ($200,000) per annum (subject to proportionate adjustment for the actual period covered by such compensation plan) (the “Bonus Plan”); provided the Executive fully satisfies his objectives for each applicable period.
Regular Compensation. For all services to be rendered by Executive in any capacity hereunder, Executive shall be entitled to receive “Regular Compensation” in the following annual amounts:
Regular Compensation. For purposes of this paragraph 15, for the initial term of employment under this Agreement, regular compensation shall be understood to mean two (2) times the base annual compensation for the prior year, excluding any bonus. For any renewal periods after the initial two years of employment under this Agreement, regular compensation shall be understood to include Provided, however, that upon termination of employment, notwithstanding any other provisions contained herein to the contrary, the provisions of paragraphs 8 through 14, 22, and 23 shall continue in full force and effect for the period of time therein stated.
Regular Compensation. The district will notify teachers prior to August 1 in those years when there is a need to have twenty-seven (27) pay periods. The basic compensation of each teacher shall be as set forth on Schedule A.
Regular Compensation. Bus drivers will be paid on actual drive time, as determined by Zonar routing information.
Regular Compensation. A. The salaries for teachers covered by this agreement are identified in Schedule B.
B. New teachers hired into the Chelsea School District may be given credit for previous teaching experience in other private, parochial, and/or public schools, up to the number of increments on the salary schedule. No teacher shall be placed on a higher step than his actual years of experience.
C. All compensation for teachers in regular, co-curricular, extra-curricular, or extra-duty assignment must be in accordance with the terms of this agreement.
D. All teachers may be required to substitute in other teaching assignments, during the non- teaching portions of their regular assignment, when there is emergency coverage needed or when regular or volunteer coverage is not available. A teacher will not be assigned to substitute in a non-emergency situation unless the administration has attempted to secure three teacher volunteer substitutes. When teachers voluntarily, or by assignment, serve as a substitute, they shall be paid as follows:
1) Elementary teachers - $6.25/quarter hour or fraction thereof;
2) Middle/High School teachers - $6.25/quarter hour or fraction thereof or $25 per full class period, whichever is more.
E. If a teacher accepts an additional teaching class assignment in lieu of a planning period, he shall receive additional compensation in the amount calculated by dividing the teacher’s base salary by the number of periods in the school day at the teacher’s respective school building.
F. Teachers required in the course of their work to drive personal automobiles from one school building to another shall be reimbursed at the IRS rate. The same reimbursement shall be given for use of personal cars for field trips or other business of the District. The Board shall provide liability insurance protection for teachers when their personal automobiles are used as provided in this section.
