Average rate of earnings definition

Average rate of earnings means an employee’s current wage rate (salary) per day, the Internet incentive (average per day), plus the per-day average of the sum of the commissions and other payments in lieu of commissions paid to the employee for the sales periods which are included in the Payroll department’s latest twelve (12) month report (or for the sales periods during which the employee has been actually engaged in selling if he has been so engaged for less than the full period covered by said report). The per-day average is computed based on the number of working days plus Employer- authorized holidays in the twelve (12) month or shorter period.
Sample 1
Average rate of earnings means an employee's current wage rate (salary) per day, plus the sum of the commissions and other payments in lieu of commissions paid to the employee for the sales periods which are included in the most current Corporate Performance department's latest twelve (12)-month report, divided by 260 days (26 pay periods x 10 working days). The calculation of an employee’s Average Daily Earnings will occur annually on the first pay period after January 1 each year and remain in effect until replaced by the next period's calculation. For an employee with less than twelve (12) months of service within the bargaining unit, the average rate of earnings shall be calculated as per the above but based on the sales periods during which the employee has been actually engaged in selling if less than the full twelve (12)-month period covered by said report. In the event that an employee is off work for greater than (two) months due to sick leave, maternity or parental leave, calculation will be made using a twelve (12) month worked average.
Sample 1
Average rate of earnings means an employee's current wage rate (salary) per day, plus the sum of the commissions and other payments in lieu of commissions paid to employee for the sales periods which are included in the Budget and Results department's latest 12-month report, divided by 260 days (26 pay periods x 10 working days). For an employee with less that 12 months of service within the bargaining unit, the average rate of earnings shall be calculated as per the above, but based on the sales periods during which the employee has been actually engaged in selling if less than the full 12-month period covered by said report. (f)
Sample 1

More Definitions of Average rate of earnings

Average rate of earnings means an employee's current wage rate (salary) per day, plus the sum of the commissions and other payments in lieu of commissions paid to the employee for the sales periods which are included in the most current Corporate Performance department's 12-month report at the time of the calculation, divided by 260 days (26 pay periods x 10 working days). The calculation of an employee’s Average rate of earnings will occur bi-annually on the first pay period after January 1st and July 1st each year and will remain in effect until replaced by the next period’s calculation. For an employee with less than 12 months of service within the bargaining unit, the average rate of earnings shall be calculated as per the above, but based on the sales periods during which the employee has been actually engaged in selling if less than the full 12-month period covered by said report.
Sample 1
Average rate of earnings means an employee's current wage rate (salary) per day, plus the sum of the commissions and other payments in lieu of commissions paid to the employee for the sales periods which are included in the most current Corporate Performance department's latest 12-month report, divided by 260 days (26 pay periods x 10 working days). The calculation of an employee’s Average rate of earnings will occur bi-annually on the first pay period after January 1st and July 1st each year and remain in effect until replaced by the next period’s calculation. For an employee with less that 12 months of service within the bargaining unit, the average rate of earnings shall be calculated as per the above, but based on the sales periods during which the employee has been actually engaged in selling if less than the full 12-month period covered by said report. Other payments, as referred to above, include the average rate of commissions paid in respect of vacations, holidays, sickness benefits and any other days of entitlement as specified in this Agreement.
Sample 1
Average rate of earnings means an employee's current wage rate (salary) per day, plus the sum of the commissions and other payments in lieu of commissions paid to employee for the sales periods which are included in the Budget and Results department's latest 12-month report, divided by 260 days (26 pay periods x 10 working days). For an employee with less that 12 months of service within the bargaining unit, the average rate of earnings shall be calculated as per the above, but based on the sales periods during which the employee has been actually engaged in selling if less than the full 12-month period covered by said report. (f) Average rate of earnings means an employee's current wage rate (salary) per day, plus the sum of the commissions and other payments in lieu of commissions paid to the employee for the sales periods which are included in the most current Corporate Performance department's 12-month report at the time of the calculation, divided by 260 days (26 pay periods x 10 working days). The calculation of an employee’s Average rate of earnings will occur bi-annually on the first pay period after January 1st and July 1st each year and will remain in effect until replaced by the next period’s calculation. For an employee with less than 12 months of service within the bargaining unit, the average rate of earnings shall be calculated as per the above, but based on the sales periods during which the employee has been actually engaged in selling if less than the full 12-month period covered by said report.
Sample 1

Related to Average rate of earnings

  • Average Rate means the simple arithmetic mean of the bank rates in effect at 4:00 p.m. Eastern Standard Time each day during the calendar month which immediately precedes the calendar month in which payment is made, where the "bank rate" means the rate of interest established from time to time by the Bank of Canada as the minimum rate at which the Bank of Canada makes short term advances to members of the Canadian Payments Association;

  • Rate of Gross Profit means the gross profit earned expressed as a percentage of the turnover during the period between the date of the commencement of the business and the date of the incident.

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  • total earnings means all of the dentist's gross earnings from the practice of dentistry by him in person, and "NHS earnings" means the dentist's gross earnings from the provision by him in person of general dental services under the National Health Service (Scotland) Act 1978, as amended, including where the dentist's name is included in sub-part A of the first part, or Part A prior to 2 July 2010, of two or more dental lists in Scotland, but neither his total earnings nor his NHS earnings shall be taken to include any remuneration by way of salary;

  • Maximum Leverage Ratio shall have the meaning assigned thereto in the Pricing Side Letter.

  • Average Excess Availability means, with respect to any period, the sum of the aggregate amount of Excess Availability for each Business Day in such period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such period.

  • Average Monthly Limit means the maximum allowable "Average Monthly Concentration" as defined in Section 22a-430-3(a) of the RCSA when expressed as a concentration (e.g. mg/l); otherwise, it means "Average Monthly Discharge Limitation" as defined in Section 22a-430-3(a) of the RCSA.

  • Reference Year shall have the meaning given it in the Summary.

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  • Annualized EBITDA means, for the four consecutive quarters ending on each Reporting Date, the Operating Partnership’s Pro Rata Share (as defined below) of earnings before interest, taxes, depreciation and amortization (“EBITDA”), with other adjustments as are necessary to exclude the effect of all realized or unrealized gains and losses related to hedging obligations, items classified as extraordinary items and impairment charges in accordance with generally accepted accounting principles, adjusted to reflect the assumption that (i) any EBITDA related to any assets acquired or placed in service since the first day of such four-quarter period had been earned, on an annualized basis, from the beginning of such period, and (ii) any assets disposed of during such four-quarter period had been disposed of as of the first day of such period and no EBITDA related to such assets had been earned during such period.

  • Adjusted Leverage Ratio means, as of any date, the ratio of (a) Consolidated Total Funded Debt outstanding as of such date minus any Unrestricted Cash over $3,000,000 to (b) EBITDA for the period of four consecutive fiscal quarters ending on such date.

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  • Reference Month means the calendar month for which the level of the Inflation Index is reported as specified in the applicable Final Terms, regardless of when this information is published or announced, except that if the period for which the Relevant Level was reported is a period other than a month, the Reference Month shall be the period for which the Relevant Level is reported.

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  • EBITDA Coverage Ratio defined as EBITDA divided by the aggregate of total interest expense plus the prior period current maturity of long-term debt and the prior period current maturity of subordinated debt.

  • Excess Rate With respect to each ARD Loan, the excess of (i) the applicable Revised Rate over (ii) the applicable Mortgage Rate, each as set forth in the Mortgage Loan Schedule.

  • Calculation Rate For each Distribution Date, in the case of the Class A and Class B Interests, the product of (i) 10 and (ii) the weighted average rate of the outstanding Class A and Class B Interests, treating each Class A Interest as capped at zero or reduced by a fixed percentage of 100% of the interest accruing on such Class.

  • Reference Day means each Business Day in the relevant Interest Period, other than any Business Day in the Lock-out Period;

  • Total Leverage Ratio means, on any date, the ratio of (a) Consolidated Total Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • Straight-time rate means the hourly rate of remuneration.