Retroactive Salary. B.12.1 In the event ratification of a new Agreement occurs after the expiration of the term of this Agreement, then retroactive salary payment shall be made to all employees on staff as of the date of ratification of this Collective Agreement and to employees who have retired between the expiry date of the contract and the ratification date and to the estate of any employee who has died between the said dates, in all cases calculated on the time worked by the employee between the said dates.
Retroactive Salary. Retroactive salary increases for Employees shall be distributed no later than the end of the month which follows the signing of the Agreement.
Retroactive Salary. The Parties agree that, upon achievement of the Sotio Milestone, Executive shall be entitled to receive a retroactive salary increase equal to the difference between the Base Salary actually paid to Executive and the Base Salary set forth in Section 1 for the period beginning on March 17, 2017 and ending on the Milestone Date (the “Retroactive Salary”). The Retroactive Salary shall be payable to Executive in a lump sum in cash immediately following achievement of the Sotio Milestone.
Retroactive Salary. The Parties agree that, upon the occurrence of the Qualified Financing Closing, Executive shall be entitled to receive an amount representing a retroactive salary increase, which shall be calculated as the difference between the Base Salary actually paid to Executive and the Base Salary set forth in Section 1 for the period beginning on March 17, 2017 and ending on the day immediately prior to the Effective Date (the “Retroactive Salary”). The Retroactive Salary shall be payable to Executive in a lump sum in cash on the Qualified Financing Date.
Retroactive Salary. LeMaitre and Executive intend for the increase to the Base Salary described in Section 1.3(a) to apply retroactively from May 16, 2003. Accordingly, within 30 days of execution of this Agreement, LeMaitre shall pay to Executive a lump sum equal to the difference between the Base Salary and Executive’s annual minimum base salary immediately prior to the execution of this Agreement, pro-rated for the number of days between May 16, 2003 and the date hereof.
