Annual Salary Rate means, with respect to each Plan Year: (i) if the Salary Measurement Date is December 1 of the year preceding such Plan Year, the Salary payable to an Employee during or in respect of the month of December of the year preceding such Plan Year multiplied by twelve (12), or (ii) if the Salary Measurement Date is an Eligibility Date, the Salary payable to an Employee during or in respect of such person’s first full month of Employment multiplied by twelve.
Annual Salary Rate shall, in respect of each member of the bargaining unit, mean the annual salary rate payable to such member of the bargaining unit on July 1, 2017, or on the date of the unit member’s first employment as such (whichever shall be the later), and as it is adjusted from time to time thereafter in accordance with the provisions of this Article. For each FLSA non-exempt unit member, “annual salary rate” shall mean the member’s hourly rate, annualized over a year based on the member’s scheduled hours and annual weeks of service. Except as is provided in the next paragraph, the provisions of this Article V shall be of no application to any person except insofar as such person is a member of the bargaining unit on and/or after the date of execution of this Agreement; for these purposes a person shall not cease to be a member of the bargaining unit merely by reason of the unit member being on a leave of absence, whether with or without pay. In the event that a unit member who shall have been employed as a member of the bargaining unit on or after January 1, 2012, shall have died after said date but prior to the execution of this Agreement, the unit member’s estate shall be entitled to receive all of the salary adjustments for which the unit member would have been eligible in accordance with the provisions of this Article V to and including the date of the unit member’s death. Payments to the estate of such salary adjustments shall be made on a pro rata basis commencing with the effective date of the salary adjustment and ending on the date of death.
Annual Salary Rate means the member’s hourly rate, annualized over a year based on the member’s scheduled hours and annual weeks of service. Except as is provided in the next paragraph, the provisions of this Article V shall be of no application to any person except insofar as such person is a member of the bargaining unit on and/or after the date of execution of this Agreement; for these purposes a person shall not cease to be a member of the bargaining unit merely by reason of the unit member being on a leave of absence, whether with or without pay. In the event that a unit member who shall have been employed as a member of the bargaining unit on or after January 1, 2012, shall have died after said date but prior to the execution of this Agreement, the unit member’s estate shall be entitled to receive all of the salary adjustments for which the unit member would have been eligible in accordance with the provisions of this Article V to and including the date of the unit member’s death. Payments to the estate of such salary adjustments shall be made on a pro rata basis commencing with the effective date of the salary adjustment and ending on the date of death.
Examples of Annual Salary Rate in a sentence
For positions regularly required to be staffed on holidays (i.e. certain positions at ESD), should a holiday fall on the rest day of an employee which is other than Saturday or Sunday, he/she shall be compensated for that day at the straight time rate.
Compassionate grants are calculated as a proportion of the annual rate of salary (including any permanent salary allowances) payable to the principal at the time of death as follows: Length of Service(in New Zealand state schools) Proportion of Annual Salary Rate 20 years or more One-eighth 10 years but less than 20 years One-twelfth Under 10 years No grant payable For the purposes of this clause, "service" means service in New Zealand state or state- integrated schools.
His Annual Salary Rate shall be the rate in effect when he ceased full-time employment.
The per diem rate shall be derived from the annual rate in accordance with the following formula:Per Diem Rate = Annual Salary Rate ÷ 12 months ÷ 21 Average Working Days Per Month.
The amount payable to a Participant at Salary Grade 24 and above (as of December 31 of that year) shall be determined by multiplying his Annual Salary Rate times the Team Award percentage (determined from Exhibit 1 for non-Officer Participants in Salary Grades 24 and above, and from Exhibit 2 for Officers), for his salary grade as of December 31, times the applicable Corporate Performance Factor, plus the amount of his Individual Award, if any.
More Definitions of Annual Salary Rate
Annual Salary Rate means the Participant's base salary rate in effect on the earlier of the date of the Participant's Separation from Service, death or Disability.
Annual Salary Rate shall, in respect of each member of the bargaining unit, mean the annual salary rate payable to such member of the bargaining unit on January 1, 2012, or on the date of his/her first employment as such (whichever shall be the later), and as it is adjusted from time to time thereafter in accordance with the provisions of this Article. Except as is provided in the next paragraph, the provisions of this Article V shall be of no application to any person except insofar as such person is a member of the bargaining unit on and/or after the date of execution of this Agreement; for these purposes a person shall not cease to be a member of the bargaining unit merely by reason of his/her being on a leave of absence, whether with or without pay. In the event that a unit member who shall have been employed as a member of the bargaining unit on or after January 1, 2012, shall have died after said date but prior to the execution of this Agreement, his or her estate shall be entitled to receive all of the salary adjustments for which the unit member would have been eligible in accordance with the provisions of this Article V to and including the date of his or her death. Payments to the estate of such salary adjustments shall be made on a pro rata basis commencing with the effective date of the salary adjustment and ending on the date of death.
Annual Salary Rate means the monetary compensation authorized salary estimated to be paid or actually paid a position or positions on an annualized basis. The term does not include moneys authorized for benefits associated with the position. In calculating salary rate, a vacant position shall be calculated at the minimum of the pay grade for that position.
Annual Salary Rate means the hourly, weekly or other rate at which a person's salary is paid expressed as an annual salary according to such consistently applied formula as the Board considers appropriate having regard to the hours regularly worked by a full-time employee in the position occupied by the person for whom the annual salary rate is determined or in a comparable position;
Annual Salary Rate or (Rate) means the monetary compensation authorized to be paid a position on an annualized basis.
Annual Salary Rate means the monetary compensation authorized to be paid a position on an annualized basis. The term does not include moneys author- ized for benefits associated with the position.
Annual Salary Rate means the Participant's base salary rate in effect on the earlier of (i) or (ii) where (i) is the earlier of the Participant's Separation from Service, date of death, or Disability Date and (ii) is June 30, 2013.