Daily wages definition

Daily wages means: 1/365 x 12 x the monthly wages.

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Daily wages for an hourly employee shall be calculated by multiplying such employee’s hourly wage rate times 8.0, and the Daily Wages of a salaried employee shall be calculated by dividing such salaried employee’s monthly salary by 22. To the extent that Purchaser is credited with the value of such accrued vacation and sick leave, determined as set forth above, Purchaser shall likewise provide such affected employee with accrued vacation and sick leave for which credit has been given by Seller, as set forth above. Notwithstanding the foregoing, for all purposes under the employee benefit plans of the Purchaser and its Affiliates providing benefits after the Closing Date, each Person who is as of the Closing Date an employee of the Seller and who is hired by the Purchase or its Affiliates shall be credited with his or her years of service with the Seller, as applicable, before the Closing Date, to the same extent as such Person was entitled, before the Closing Date, to credit for such service under any similar plans, except to the extent such credit would result in a duplication of benefits. In addition, and without limiting the generality of the foregoing: (a) each such Person shall be immediately eligible to participate, without any waiting time, in any and all employee benefit plans sponsored by the Purchaser and its Affiliates for the benefit of its employees (such plans, collectively, the “New Plans”) to the extent coverage under such New Plan replaces the coverage under a comparable plan in which such Person participated immediately before the Closing Date (such plans, collectively, the “Old Plans”); and (b) for purposes of each New Plan providing medical, dental, pharmaceutical or vision benefits to any such Person, the Purchaser and its Affiliates shall cause all pre-existing condition exclusions and actively-at-work requirements of such New Plan to be waived for such employee and his or her covered dependents, and the Purchaser and its Affiliates shall cause any eligible expenses incurred by such employee and his or her covered dependents during the portion of the plan year of the Old Plan ending on the date such employee’s participation in the corresponding New Plan begins to be taken into account under such New Plan for purposes of satisfying all deductible, coinsurance and maximum out-of-pocket requirements applicable to such employee and his or her covered dependents for the applicable plan year as if such amounts had been paid in accordance with such New ...

Daily wages shall have the meaning assigned thereto in Article 15.1.

Examples of Daily wages in a sentence

• Daily wages will not be reduced while the employee is involved in the approved training.

• Daily wages will be computed by dividing the unit member’s annual wage by the number of work days.

• Daily wages will be computed by dividing the unit member’s annual wage (placement on the current “Unit Member Salary Schedule for the Regular School Year”) by the number of work days (currently one hundred eighty-three (183) days).

• Inclement Weather Regular Daily wages Regular Daily wages Regular Daily wages ❖ On any working day when routes are cancelled due to weather or other board directives, employees will receive their regular daily wages for that day.

• School Board Strike/Lockout Regular Daily wages Regular Daily wages Regular Daily wages ❖ In the event that there is a strike, walkout or lockout with school district/board, and the buses are not running, employees will receive their regular daily wages for each day, subject to provisions of the school board contract.

• Daily wages will be received by the employee while on assault leave.

• Daily Wages Rate – Daily wages will be computed by dividing the unit member’s annual wage (placement on the current “Unit Member Salary Schedule for the Regular School Year”) by the number of work days (currently one hundred eighty-three (183) days).

• Underground workers (Daily wages for 350 workers) x (5 days/week x 52 weeks/yr.) ($24,618.20/day) x (260 days/yr) = $6,400,732.00/yr.