Salary Conversion. With respect to any semi-monthly salary payments payable to Xx. Xxxxxxx during October through December, 2009 (the “Conversion Period”), Xx. Xxxxxxx may elect, by written notification to the Company, to receive up to the equivalent of four (4) such salary payments (the “Maximum Conversion Amount”) in the form of common stock of the Company instead of in cash. Xx. Xxxxxxx may exercise this conversion election with respect to all or any portion of each semi-monthly salary amount during the Conversion Period up to the Maximum Conversion Amount. The conversion price per share, for any such salary payments to be received in stock, will be twenty cents ($0.20) per share.
Salary Conversion a) All officers in BG 50, 51 and BG 52 who are in service with the Bank on 28th February 2008 shall receive a salary adjustment of ten (10%) plus one-increment twenty-five percent (25%) to the salary drawn on 28th February 2008. [Note: See revised Appendix II dated 24/1/2008]
b) For officers whose salary is below the new minimum of the Grade shall be adjusted to the minimum.
c) For officers whose salary exceeds the new maximum after the conversion, their salary shall then remain at the maximum of the grade.
Salary Conversion.
.1) to salary subject to the following conditions:
1. Discretionary days may only be converted in twenty-four (24) hour blocks and Vacation Entitlement may only be converted in forty (40) hour blocks and the maximum total conversion may not exceed one hundred and fifty-two (152) hours;
2. the conversion will be effective April 1st of the same year of Notice Deadline;
3. each twenty-four (24) hour block of Discretionary time converted will result in the addition of one percent (1%) rounded to the nearest dollar to Counsel's base salary;
4. each forty (40) hour block of Vacation Entitlement converted will result in the addition of 1.75% rounded to the nearest dollar to Counsel's base salary;
5. it is the understanding of the Employer and Counsel that any Discretionary days and Vacation Entitlement converted to base salary shall accrue pension benefits;
6. the conversion of Vacation Entitlement to salary is restricted to vacation in excess of eighteen (18) days.
Salary Conversion. The participants whose salary is being converted needs to be selected from the drop down list. Enter in the salary amount that is to remain as salary. The difference will automatically be converted to project funds on the project funds line. The amounts should be entered so that all funds being converted match up with the original years funded. The effective date of the conversion also needs to be entered. This is the date the ARC will consider the conversion taking place. Up to 500 words should be entered into the justification outlining the reason for converting the salary funds. This should be the ‘WHY’ for the request. Supporting documentation should only be attached requested by the ARC. The details of the request must be listed within the justification. Project - Salary Relinquishment There are occasions where the salary funds have to be returned to the ARC, however the project is still ongoing (i.e. has not come to an end). If this happens, a Project - Salary Relinquishment variation will have to be completed. For salary funds to be relinquished, the full amount to be relinquished must be included within the request, however for this variation, to relinquish the funds you must confirm the amount that is to remain on the project - not the amount to be recovered by the ARC.
Salary Conversion. Select Salary Conversion from the ‘Add Project Variation’ drop-down. Select the participant for which the salary is being converted, from the ‘Select Participant/Award’ drop-down. For each year, calculate the remaining funds that are to be held as Salary, by subtracting the amount to be converted from the Salary ‘Indexed Amount’, as shown in the above example. This will automatically calculate the new ‘Project Funds’ as shown in the above example. Provide the date that this is to take effect in the ‘Effective Date’ box. Select ‘Add’ Provide details on the conversion in the Justification box. Documentation is not required for this type of variation, unless requested by the ARC. ‘Save’ and ‘Close’ the request.
Salary Conversion a) All officers in XX00, XX00 xxx XX00 who are in service with the Bank on 29th February 2008 shall receive a salary adjustment of 9% plus 1% ex-gratia payment (for 36 months) to the salary drawn on 29th February 2008.
b) For officers whose salary is below the new minimum of the Grade shall be adjusted to the minimum.
c) For officers whose salary exceeds the new maximum after the conversion, their salary shall then remain at the maximum of the grade.
Salary Conversion. The mode of salary conversion for confirmed Officers who are in service on 31st December 2011 shall be equivalent to the basic salary of the officer as at 31st December 2011 multiplied (x) by the percentage of adjustment as per the matrix in Appendix ‘B2’ herein annexed. Any fraction of the Ringgit after conversion will be rounded up to the next Ringgit. For Officers whose salary is below the new minimum of the Grade, it shall be adjusted to the minimum. For Officers whose salary exceeds the maximum of the Grade after the adjustment/increment, their salary shall then remain at the maximum of the Grade.
Salary Conversion. Each year prior to January 15th at 5:00 p.m. (the "Notice Deadline") Counsel may
.1) to salary subject to the following conditions:
1. Discretionary days may only be converted in twenty-four (24) hour blocks and Vacation Entitlement may only be converted in forty (40) hour blocks and the maximum total conversion may not exceed one hundred and fifty-two (152) hours;
2. the conversion will be effective April 1st of the same year of Notice Deadline;
3. each twenty-four (24) hour block of Discretionary time converted will result in the addition of one percent (1%) rounded to the nearest dollar to Counsel's base salary;
4. each forty (40) hour block of Vacation Entitlement converted will result in the addition of 1.75% rounded to the nearest dollar to Counsel's base salary;
5. it is the understanding of the Employer and Counsel that any Discretionary days and Vacation Entitlement converted to base salary shall accrue pension benefits;
6. the conversion of Vacation Entitlement to salary is restricted to vacation in excess of eighteen (18) days.
Salary Conversion. The participants whose salary is being converted needs to be selected from the drop down list. Enter in the salary amount that is to remain as salary. The difference will automatically be converted to project funds on the project funds line. The amounts should be entered so that all funds being converted match up with the original years funded. The effective date of the conversion also needs to be entered. This is the date the ARC will consider the conversion taking place.
