SALARIED STATUS Clause Samples

The 'Salaried Status' clause defines an employee's compensation structure as being paid a fixed salary rather than hourly wages. This means the employee receives a predetermined amount each pay period regardless of the number of hours worked, and is typically not eligible for overtime pay. The clause clarifies the employment terms, ensuring both parties understand the basis for pay and applicable labor law exemptions, thereby preventing disputes over compensation and work hours.
SALARIED STATUS. Employee understands and agrees that he is a salaried employee of management status, and as such is not entitled to overtime wages unless under special circumstances and specifically agreed to in writing.
SALARIED STATUS. A. Employees shall be compensated based upon salaried status. Salaried status means that the established compensation rate to which the employee is entitled for a standard biweekly pay period shall not be reduced for authorized absences of less than a full regularly scheduled workday. Employees shall not be required to use any leave of absence credits to receive their established biweekly compensation for authorized absences of less than a full regularly scheduled workday. B. Compensating employees on the basis of salaried status is in recognition that employees are professionals who exercise good judgment on how to handle their responsibilities, assignments, and workload. It is expected that employees who exercise the privilege of taking partial days off with pay will ensure that their work is completed on a timely basis and represents a high quality work product.
SALARIED STATUS. Unit employees shall be considered salaried employees. For payroll purposes, such employees are compensated on a biweekly salary basis and need not submit documented time reports. The provisions of such salaried status are as follows: 1. For the performance of prescribed duties, a management employee receives a salary and is expected to work the necessary hours required to fulfill the responsibilities of the position. 2. It is assumed the requirements of the position result in a management employee working eighty hours in a biweekly period, and such employee will not receive additional compensation in any form for time worked beyond such assumption. 3. Subject to approval by the Department Head, reasonable time off amounts of less than one full workday (normally eight hours) is authorized for a management employee for personal use during normal work hours, without loss of salary. The County may utilize the exception to the Fair Labor Standards Act (FLSA) created by the Family Medical Leave Act (FMLA) to dock an employee’s salary or leave balances for ongoing partial-day absences taken as authorized under the FMLA without affecting the exempt status of the employee (29U.S.C. 2612(c)). 4. For absences of one full workday (normally eight hours) or more, a management employee will utilize applicable vacation, sick leave, or administrative leave accrual.
SALARIED STATUS. Unit employees shall be considered salaried employees. For payroll purposes, such employees are compensated on a biweekly salary basis and need not submit documented time reports. The provisions ofsuch salaried status are as follows: I. For the performance ofprescribed duties, a management employee receives a salary and is expected to work the necessary hours required to fulfill the responsibilities ofthe position.

Related to SALARIED STATUS

  • Unfunded Status The obligations of the Company hereunder shall be contractual only. The Employee shall rely solely on the unsecured promise of the Company and nothing herein shall be construed to give the Employee or any other person or persons any right, title, interest or claim in or to any specific asset, fund, reserve, account or property of any kind whatsoever owned by the Company or any Affiliate.

  • Pay Status An aggrieved employee and the Union Delegate shall be in a pay status during those working hours in which a grievance, a grievance mediation, or an arbitration hearing is held. Release time for additional employee representation shall be subject to approval by the Labor Relations Officer or designee when a group grievance is filed.

  • S Corporation Status The Company and Seller shall not revoke the Company’s election to be taxed as an S corporation within the meaning of Code § 1361 and § 1362. The Company and Sellers shall not take or allow any action that would result in the termination of the Company’s status as a validly electing S corporation within the meaning of Code § 1361 and § 1362.

  • Shell Status The Company represents that it is not a “shell” issuer and has never been a “shell” issuer, or that if it previously has been a “shell” issuer, that at least twelve (12) months have passed since the Company has reported Form 10 type information indicating that it is no longer a “shell” issuer. Further, the Company will instruct its counsel to either (i) write a 144- 3(a)(9) opinion to allow for salability of the Conversion Shares or (ii) accept such opinion from Holder’s counsel.

  • Emerging Growth Status From the date of the Company’s formation through the date hereof, the Company has been and is an “emerging growth company,” as defined in Section 2(a) of the Act (an “Emerging Growth Company”).