Super Maximum Sample Clauses

Super Maximum. ‌ Section 1. Each professional staff member having served the District ten (10) years or more shall be eligible for a super maximum increment for long term service to be paid during the last year of employment in the District. A. The super maximum increment shall be based on the following calculation: forty dollars ($40) per day for the first one hundred twenty (120) days of accumulated sick leave to a maximum of four thousand eight hundred dollars ($4,800), and sixty dollars ($60) per day for the next one hundred twenty (120) days of accumulated sick leave for an additional maximum increment of seven thousand two hundred dollars ($7,200). However, the total super maximum increment shall not exceed twelve thousand dollars ($12,000). B. This super maximum service increment will be paid only during the last year of service to the District and only if the professional staff member is eligible for an annuity pension under the terms of the existing retirement legislation. Section 2. The professional staff member must apply for the super maximum increment by May 15, of the intended final year of service. The request will be submitted to the Board of School Directors for approval. If a professional staff member elects to receive the super maximum increment, the professional staff member must also submit a letter indicating that the professional staff member intends to retire from service that year. Final salary checks (not to exceed the amount of the super maximum for long term service) will be withheld from the professional staff member until all retirement forms are completed and the professional staff member officially retires from service to the School District. Payment of super maximum will be made in the last month of employment with the District. However, professional staff members may opt to apply super maximum payments toward the payment of medical premiums after retirement.
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Super Maximum. In recognition of the value of continued years of service to the Winthrop School System, a “Super Maximum” salary schedule is set forth: 10 Years 15 Years 20 Years $800 $1000 $1200
Sample 1
Super Maximum. Section 1. Each bargaining unit member having served the District ten (10) years or more shall be eligible for a super maximum increment for long term service to be paid during the last year of employment in the District. A. The super maximum increment shall be based the following calculation: forty dollars ($40) per day for the first one hundred twenty (120) days of accumulated sick leave to a maximum of four thousand eight hundred dollars ($4,800), and sixty dollars ($60) per day for the next one hundred twenty (120) days of accumulated sick leave for an additional maximum increment of seven thousand two hundred dollars (7,200). However, the total super maximum increment shall not exceed twelve thousand dollars ($12,000). B. This super maximum service increment will be paid only during the last year of service to the District and only if the bargaining unit member is eligible for an annuity pension under the terms of the existing retirement legislation. Section 2. The bargaining unit member must apply for the super maximum increment by May 15, of the intended final year of service. The request will be submitted to the Board of School Directors for approval. If a bargaining unit member elects to receive the super maximum increment, the bargaining unit member must also submit a letter indicating that the bargaining unit member intends to retire from service that year. Final salary checks (not to exceed the amount of the super maximum for long tern service) will be withheld from the bargaining unit member until all retirement forms are completed and the bargaining unit member officially retires from service to the School District. Payment of super maximum will be made the last month of employment with the District. However, the bargaining unit member may at his/her option apply super maximum payments toward the payment of medical premiums after retirement.
Sample 1
Super Maximum. Each member of the bargaining unit will receive a super-maximum increment after completion of their 10th, 15th, 20th, 25th and 30th years as a full-time professional employee in the public schools of the Commonwealth of Pennsylvania. During this contract, the maximum amount that will be added as super-maximum increment to an individual’s salary is $800. An employee becomes eligible after service, according to the above stipulations, as listed below: $100 after the 10th year; $100 after the 15th year; $200 after the 20th year; $200 after the 25th year; $200 after the 30th year; No changes will be made in an employee’s salary at mid-term. Such super-maximum increments shall be made a part of the attached salary schedules and shall become a permanent part of the employee’s salary. This is added to the employee’s salary after all other computations have been made.
Sample 1

Related to Super Maximum

  • MAXIMUM OUT-OF POCKET EXPENSE means the total amount you pay each plan year for covered healthcare services. We will pay up to 100% of our allowance for the covered healthcare service for the rest of the plan year once you have met the maximum out-of-pocket expense. See the Summary of Medical Benefits for your maximum out-of-pocket expenses.

  • Maximum In no event shall any holder be entitled to exercise any Warrant Shares to the extent that, after such exercise, the sum of the number of shares of Common Stock beneficially owned by any holder and its affiliates (other than shares of Common Stock which may be deemed beneficially owned through the ownership of the unexercised portion of the Warrant Shares or any unexercised right held by any holder subject to a similar limitation), would result in beneficial ownership by any holder and its affiliates of more than 4.99% of the outstanding shares of Common Stock (after taking into account the shares to be issued to the holder upon such exercise). For purposes of this Section 2(c), beneficial ownership shall be determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended. Nothing herein shall preclude the holder from disposing of a sufficient number of other shares of Common Stock beneficially owned by the holder so as to thereafter permit the continued exercise of this Warrant.

  • Minimum Amounts and Maximum Number of Tranches All borrowings, prepayments, conversions and continuations of Loans hereunder and all selections of Interest Periods hereunder shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, the aggregate principal amount of the Loans comprising each Eurodollar Tranche shall be equal to $10,000,000 or a whole multiple of $1,000,000 in excess thereof. In no event shall there be more than five Eurodollar Tranches outstanding at any time.

  • Minimum Amounts and Maximum Number of Eurodollar Tranches Notwithstanding anything to the contrary in this Agreement, all borrowings, conversions, continuations and optional prepayments of Eurodollar Loans and all selections of Interest Periods shall be in such amounts and be made pursuant to such elections so that, (a) after giving effect thereto, the aggregate principal amount of the Eurodollar Loans comprising each Eurodollar Tranche shall be equal to $3,000,000 or a whole multiple of $500,000 in excess thereof and (b) no more than 20 Eurodollar Tranches shall be outstanding at any one time.

  • Aggregate Limit The issuance and sale of the Shares issuable pursuant to such Fixed Request Notice or Optional Amount shall not violate Sections 2.2, 2.12 and 5.5 hereof.

  • Maximum Credit Patheon's liability for Active Materials calculated in accordance with this Section 2.2 for any Product in a Year will not exceed, in the aggregate, the Maximum Credit Value set forth in Schedule D to a Product Agreement.

  • Reallocation to a Class with a Lower Salary Range Maximum 1. If the employee meets the skills and abilities requirements of the position and chooses to remain in the reallocated position, the employee retains the existing appointment status and has the right to be placed on the Employer’s internal layoff list for the classification occupied prior to the reallocation. 2. If the employee chooses to vacate the position or does not meet the skills and abilities requirements of the position, the layoff procedure specified in Article 31 of this Agreement applies.

  • Maximum Percentage A holder of a Warrant may notify the Company in writing in the event it elects to be subject to the provisions contained in this subsection 3.3.5; however, no holder of a Warrant shall be subject to this subsection 3.3.5 unless he, she or it makes such election. If the election is made by a holder, the Warrant Agent shall not effect the exercise of the holder’s Warrant, and such holder shall not have the right to exercise such Warrant, to the extent that after giving effect to such exercise, such person (together with such person’s affiliates), to the Warrant Agent’s actual knowledge, would beneficially own in excess of 9.8% (the “Maximum Percentage”) of the Ordinary Shares outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of Ordinary Shares beneficially owned by such person and its affiliates shall include the number of Ordinary Shares issuable upon exercise of the Warrant with respect to which the determination of such sentence is being made, but shall exclude Ordinary Shares that would be issuable upon (x) exercise of the remaining, unexercised portion of the Warrant beneficially owned by such person and its affiliates and (y) exercise or conversion of the unexercised or unconverted portion of any other securities of the Company beneficially owned by such person and its affiliates (including, without limitation, any convertible notes or convertible preferred shares or warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein. Except as set forth in the preceding sentence, for purposes of this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). For purposes of the Warrant, in determining the number of outstanding Ordinary Shares, the holder may rely on the number of outstanding Ordinary Shares as reflected in (1) the Company’s most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Current Report on Form 8-K or other public filing with the Commission as the case may be, (2) a more recent public announcement by the Company or (3) any other notice by the Company or Continental Stock Transfer & Trust Company, as transfer agent (in such capacity, the “Transfer Agent”), setting forth the number of Ordinary Shares outstanding. For any reason at any time, upon the written request of the holder of the Warrant, the Company shall, within two (2) Business Days, confirm orally and in writing to such holder the number of Ordinary Shares then outstanding. In any case, the number of issued and outstanding Ordinary Shares shall be determined after giving effect to the conversion or exercise of equity securities of the Company by the holder and its affiliates since the date as of which such number of issued and outstanding Ordinary Shares was reported. By written notice to the Company, the holder of a Warrant may from time to time increase or decrease the Maximum Percentage applicable to such holder to any other percentage specified in such notice; provided, however, that any such increase shall not be effective until the sixty-first (61st) day after such notice is delivered to the Company.

  • Maximum number of Loans The Borrower may not deliver a Utilisation Request if as a result of the proposed Utilisation more than one Loan would be outstanding.

  • Maximum or Minimum Interest Rate If specified on the face hereof, this Note may have either or both of a Maximum Interest Rate or a Minimum Interest Rate. If a Maximum Interest Rate is so designated, the interest rate for a Floating Rate Note cannot ever exceed such Maximum Interest Rate and in the event that the interest rate on any Interest Reset Date would exceed such Maximum Interest Rate (as if no Maximum Interest Rate were in effect) then the interest rate on such Interest Reset Date shall be the Maximum Interest Rate. If a Minimum Interest Rate is so designated, the interest rate for a Floating Rate Note cannot ever be less than such Minimum Interest Rate and in the event that the interest rate on any Interest Reset Date would be less than such Minimum Interest Rate (as if no Minimum Interest Rate were in effect) then the interest rate on such Interest Reset Date shall be the Minimum Interest Rate. Notwithstanding anything to the contrary contained herein, the interest rate on a Floating Rate Note shall not exceed the maximum interest rate permitted by applicable law.

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