Earnings to be annualised definition

Earnings to be annualised means the employee’s hourly rate multiplied by the employee’s actual weekly hours multiplied by the number of weeks in the ensuing annualisation year for which the employee shall be employed; plus (a) the annual leave to which the employee is entitled; plus (b) payment of relevant daily pay for the public holidays and additional paid holidays during the ensuing calendar year which are observed on days of the week on which the employee normally works. (c) The employee and employer may agree to include the first aid allowance (clause 5.3) and/or qualifications allowance (clause 3.10), where the employee has an entitlement, in an annualisation calculation. (d) The following allowances must not be included in an annualisation calculation and shall be paid only as prescribed by the collective agreement: (i) Motor vehicle allowance (clause 5.1); (ii) Protective clothing allowance (clause 5.2); (iii) Tiaki allowance (clause 5.4); (iv) Overnight allowance (clause 5.5); (v) Meal allowance (clause 5.6).
Sample 1Sample 2Sample 3
Earnings to be annualised means the employee’s hourly rate multiplied by the employee’s actual weekly hours multiplied by the number of weeks in the ensuing annualisation year for which the employee shall be employed; plus (a) the annual leave to which the employee is entitled; plus (b) payment of relevant daily pay for the public holidays and additional paid holidays during the ensuing calendar year which are observed on days of the week on which the employee normally works.
Sample 1

Related to Earnings to be annualised

  • Average annual rainfall means a typical calendar year of precipitation as determined by the Wisconsin Department of Natural Resources for users of models such as WinSLAMM, P8 or equivalent methodology. The average annual rainfall is chosen from a department publication for the location closest to the municipality.

  • Average annual payroll means the average of the annual

  • Average Annual Debt Service means, at the time of calculation, the sum of the Annual Debt Service for the remaining years of the loan to the last scheduled maturity of the loan divided by the number of those years.

  • Semi-annual (2/Year) sampling frequency means the sampling shall be done during the months of June and December, unless specifically identified otherwise.

  • Earnings Per Share means as to any Fiscal Year, the Company’s or a business unit’s Net Income, divided by a weighted average number of common shares outstanding and dilutive common equivalent shares deemed outstanding, determined in accordance with generally accepted accounting principles.

  • Annual Revenue means the Company’s or a business unit’s net sales for the Fiscal Year, determined in accordance with generally accepted accounting principles; provided, however, that prior to the Fiscal Year, the Committee shall determine whether any significant item(s) shall be excluded or included from the calculation of Annual Revenue with respect to one or more Participants.

  • Five-Year Treasury Rate means, as of any Reset Interest Determination Date, the average of the yields on actively traded U.S. Treasury securities adjusted to constant maturity, for five-year maturities, for the most recent five Business Days appearing under the caption “Treasury Constant Maturities” in the Most Recent H.15. If the Five-year Treasury Rate cannot be determined pursuant to the preceding sentence, the Calculation Agent, after consulting such sources as it deems comparable to any of the foregoing calculations, or any such source as it deems reasonable from which to estimate the Five-year Treasury Rate, will determine the Five-year Treasury Rate in its sole discretion, provided that if the Calculation Agent determines there is an industry-accepted successor Five-year Treasury Rate, then the Calculation Agent will use such successor rate. If the Calculation Agent has determined a substitute or successor base rate in accordance with the foregoing, the Calculation Agent in its sole discretion may determine the Business Day convention, the definition of Business Day and the Reset Interest Determination Date to be used and any other relevant methodology for calculating such substitute or successor base rate, including any adjustment factor needed to make such substitute or successor base rate comparable to the Five-year Treasury Rate, in a manner that is consistent with industry-accepted practices for such substitute or successor base rate.