Common use of Salary payment plan Clause in Contracts

Salary payment plan. For ten month and 200 day Unit I members, one twenty-second of each member's salary shall be paid to a lead bank every two weeks for the ten months of employment. Ten month and 200 day Unit I members may opt to have one twenty-sixth of their salary paid to the lead bank every two weeks for twelve months each year. Unit I members who choose the 26 pay option must submit their request to the compensation office between June 1 and July 31. The Unit I member may not change that election again for a full year. The selected option will continue from year to year unless changed during a subsequent June 1 to July 31 time period. For twelve month Unit I members, one twenty-sixth of each member's salary shall be paid to the lead bank every two weeks for the twelve months of employment. The lead bank shall be chosen by the Board. Salary payments shall be calculated two weeks subsequent to the period of earnings. The first payment will be made either the second or third week in September. The Board shall, at the biweekly pay periods, provide to each member a statement of all monies earned, deductions and reductions made and the net amount deposited in the member's name with the lead bank. Beginning July 1, 2001, all newly hired Unit I members will be paid on the 26 pay schedule. The lead bank will deposit or transfer the Unit I member's pay as directed by that individual. The lead bank may deposit the member's pay in a charge-free checking account at the lead bank, forward the pay to savings or investment accounts in the lead bank as directed, or transfer the pay to a selected home bank. The member may stipulate the placement or transfer of funds by written direction. Exceptions to the payment plan will be as follows:

Salary payment plan. For ten month and 200 day Unit I members, one twenty-second of each member's ’s salary shall be paid to a lead bank every two weeks for the ten months of employment. Ten month and 200 day Unit I members may opt to have one twenty-sixth of their salary paid to the lead bank every two weeks for twelve months each year. Unit I members who choose the 26 pay option must submit their request to the compensation office between June 1 and July 31. The Unit I member may not change that election again for a full year. The selected option will continue from year to year unless changed during a subsequent June 1 to July 31 time period. For twelve month Unit I members, one twenty-twenty- sixth of each member's ’s salary shall be paid to the lead bank every two weeks for the twelve months of employment. The lead bank shall be chosen mutually by the BoardBoard and TAAAC. Salary payments shall be calculated two weeks subsequent to the period of earnings. The first payment will be made either the second or third week in September. The Board shall, at the biweekly pay periods, provide to each member a statement of all monies earned, deductions and reductions made and the net amount deposited in the member's ’s name with the lead bank. Beginning July 1, 2001, all newly hired Unit I members will be paid on the 26 pay schedule. The lead bank will deposit or transfer the Unit I member's ’s pay as directed by that individual. The lead bank may deposit the member's ’s pay in a charge-free checking account at the lead bank, forward the pay to savings or investment accounts in the lead bank as directed, or transfer the pay to a selected home bank. The member may stipulate the placement or transfer of funds by written direction. Exceptions to the payment plan will be as follows:

Salary payment plan. For ten month and 200 day Unit I members, one twenty-second of each member's ’s salary shall be paid to a lead bank every two weeks for the ten months of employment. Ten month and 200 day Unit I members may opt to have one twenty-sixth of their salary paid to the lead bank every two weeks for twelve months each year. Unit I members who choose the 26 pay option must submit their request to the compensation office between June 1 and July 31. The Unit I member may not change that election again for a full year. The selected option will continue from year to year unless changed during a subsequent June 1 to July 31 time period. For twelve month Unit I members, one twenty-sixth of each member's ’s salary shall be paid to the lead bank every two weeks for the twelve months of employment. The lead bank shall be chosen mutually by the BoardBoard and TAAAC. Salary payments shall be calculated two weeks subsequent to the period of earnings. The first payment will be made either the second or third week in September. The Board shall, at the biweekly pay periods, provide to each member a statement of all monies earned, deductions and reductions made and the net amount deposited in the member's ’s name with the lead bank. Beginning July 1, 2001, all newly hired Unit I members will be paid on the 26 pay schedule. The lead bank will deposit or transfer the Unit I member's ’s pay as directed by that individual. The lead bank may deposit the member's ’s pay in a charge-free checking account at the lead bank, forward the pay to savings or investment accounts in the lead bank as directed, or transfer the pay to a selected home bank. The member may stipulate the placement or transfer of funds by written direction. Exceptions to the payment plan will be as follows:

Salary payment plan. For ten month ten-month, 200-day, and 200 210-day Unit I members, one twenty-second of each member's salary shall be paid to a lead bank every two (2) weeks for the ten months of employment. Ten 10-month and 200 200-day Unit I members may opt to have one twenty-sixth of their salary paid to the lead bank every two (2) weeks for twelve months each year. Unit I members who choose the 26 26-pay option must submit their request to the compensation office between June 1 and July 31. The Unit I member may not change that election again for a full year. The selected option will continue from year to year unless changed during a subsequent June 1 to July 31 time period. For twelve 12-month Unit I members, one twenty-sixth of each member's salary shall be paid to the lead bank every two (2) weeks for the twelve (12) months of employment. The lead bank shall be chosen by the Board. Salary payments shall be calculated two (2) weeks subsequent to the period of earnings. The first payment will be made either the second or third week in September. The Board shall, at the biweekly pay periods, provide to each member a statement of all monies earned, deductions and reductions made made, and the net amount deposited in the member's name with the lead bank. Beginning July 1, 2001, all newly hired Unit I members will be paid on the 26 twenty-six (26) pay schedule. Each year, the first salary payment for 210-day employees will be made two (2) weeks prior to other employees who work less than twelve months. The lead bank will deposit or transfer the Unit I member's pay as directed by that individual. The lead bank may deposit the member's pay in a charge-free checking account at the lead bank, forward the pay to savings or investment accounts in the lead bank as directed, or transfer the pay to a selected home bank. The member may stipulate the placement or transfer of funds by written direction. Exceptions to the payment plan will be as follows: