Total Compensation Package Sample Clauses
The Total Compensation Package clause defines the full range of salary, benefits, and other forms of remuneration that an employee is entitled to receive from an employer. This typically includes base pay, bonuses, health insurance, retirement contributions, and any additional perks such as stock options or allowances. By clearly outlining all components of compensation, this clause ensures transparency and helps prevent misunderstandings or disputes regarding what the employee will receive as part of their employment agreement.
Total Compensation Package. The Executive Compensation Program provides the Executive with a competitive total compensation package that is made up of four elements; Base Salary, Executive Incentive Program (EPIP), and Benefits and Pension Programs. All aspects of the compensation plan are subject to, and must be provided in compliance with, any applicable legislation.
Total Compensation Package. The parties acknowledge that whatever is agreed upon will become part of the total compensation package for adjunct professors.
Total Compensation Package. 3.7.1 Increases in compensation will be based on a total compensation package which will include salaries and all negotiated fringe benefits.
3.7.2 Compensation will be negotiated on improvement of salary schedules by percentage or a flat rate amount per step; however, all increased compensation, including negotiated fringe benefits will be publicly reported as a "total compensation package."
3.7.3 The current salary schedules for teachers and psychologists are contained in Appendix G of this Agreement.
1. The 2012-2013 Certificated Salary Schedules (Appendix G – approved 5/24/10) shall be increased across the board by 1.75% effective July 1, 2012.
2. Unit members shall also receive a one-time, off-the-schedule payment (“bonus”) equal to 1.25% of their salary, following the adjustment in #1 above.
3. In addition, unit members shall receive a one-time, off-the-schedule payment (“bonus”) payment for the 2012-2013 school year subject to the following conditions:
Total Compensation Package. Subject to approval of the Company’s Compensation Committee, you will have an annual compensation package of $2,500,000. Total Compensation is defined as cash and equity value. The details of each component are listed below: Annual Cash: $875,000 One-Year Equity Value: $1,625,0001 Total Annual Compensation: $2,500,000 1 Due to stock price fluctuations, your actual one-year equity value and your actual four-year equity value may be more or less than this amount. Your initial equity grant will consist of an equity incentive award vesting over four years with an aggregate value of $6,500,0001.
i. Cash. Your annual cash compensation will be $875,000.00 (or $33,653.85 per bi-weekly pay period), payable in accordance with the Company's standard payroll practice and subject to applicable payroll deductions and all required withholdings. Because your position is exempt from overtime pay, your salary will compensate you for all hours worked. You will receive your full salary in any workweek that you perform work subject to deductions permitted by law as applicable to your status as a salaried exempt employee.
Total Compensation Package. Effective July 1, 2023 and each July 1 thereafter during the term of this Agreement, the Total Compensation Package for the classifications of Engineer, Assistant Chief Engineer, and Chief Engineer, shall increase by the percentage amount(s) specified below. For purposes of this Agreement, “Total Compensation Package” consists of the base hourly pay rate provided for in Article IV, Section 2; the contribution to the Health and Welfare Trust, International Union of Operating Engineers, Local 399, provided for in Article XII (which shall also include any contribution to the Health Reimbursement Account effective January 1, 2020); and the contribution to the IUOE Education and Training Fund, provided for in Article XIII. As of June 30, 2023 the Total Compensation Package consisted of the following amounts for the classifications referenced above: Engineer $58.63/hr Asst, Chief Engineer $64.52/hr Chief Engineer $69.45/hr Effective July 1, 2023 the Total Compensation Package shall increase by 4.0%. The Union shall be responsible for allocating the increase among the component parts of the Total Compensation Package and shall notify the Board of the specific allocation. Effective July 1, 2024 the Total Compensation Package shall increase by 4.0%. The Union shall be responsible for allocating the increase among the component parts of the Total Compensation Package and shall notify the Board of the specific allocation. Effective July 1, 2025 the Total Compensation Package shall increase by 3.00%, subject to the same allocation principles set forth above, except that the Union shall advise the Board of the allocation no fewer than thirty (30) days prior to July 1, 2025. Effective July 1, 2026 the Total Compensation Package shall increase by 3.50%, subject to the same allocation principles set forth above, except that the Union shall advise the Board of the allocation no fewer than thirty (30) days prior to July 1, 2026. Effective July 1, 2027 the Total Compensation Package shall increase by 3.00%, subject to the same allocation principles set forth above, except that the Union shall advise the Board of the allocation no fewer than thirty (30) days prior to July 1, 2027.