Merit salary increase definition

Merit salary increase means an increase in compensation to:
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Merit salary increase means the performance-based advancement of an employee’s salary to a higher salary level within the established salary range for the employee’s classification.
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Merit salary increase means an increase in
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Examples of Merit salary increase in a sentence

  • Regular Part-Time Employees shall receive prorated Annual Leave, Sick Leave and Merit salary increase benefits according to the number of hours worked.

  • Merit salary increase consists of an increase in the employee's base salary within the range of the employee's salary group.

  • If within three (3) months the Employee has corrected the deficiency, the Merit salary increase will be granted and paid from that date.

  • The following actions are not covered by the disciplinary proceedings outlined below: Failure to promote or appoint to another position; Merit salary increase (or lack thereof); Non-renewals of limited appointment or of continuing contract eligible appointments (i.e., within the first six years in a continuing contract eligible position); Reassignment to a different position with equivalent salary; Modification of duties or hours of work.


More Definitions of Merit salary increase

Merit salary increase means the performance-based advancement of an employee's salary to a higher salary level within the established salary range for the employee's classification.
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Merit salary increase means an increase in 17-65 compensation to:
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Related to Merit salary increase

  • Annual increase means, initially, fifty-nine cents per month

  • Annual Salary means the salary given under this Part.

  • Base Salary shall have the meaning set forth in Section 3(a) hereof.

  • Monthly Base Salary means 1/12th of the greater of (i) Executive’s annual base salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Change in Control Termination or a Covered Termination, as applicable, or (ii) in the case of a Change in Control Termination, Executive’s annual base salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Change in Control.

  • Monthly salary means the portion of a member’s annual compensation which is paid to him or her per month.

  • Termination Base Salary means that amount equal to Executive’s annual base salary with the Company at the rate in effect immediately prior to the Change of Control or, if a greater amount, Executive’s annual base salary at the rate in effect at any time thereafter.

  • Annual Base Salary shall have the meaning set forth in Section 3(a).

  • CPI Increase means the percentage increase in CPI over the preceding Lease Year as calculated by the fraction whose numerator is (a) the most current CPI available on the date of calculation minus (b) the most current CPI available on the first day of the immediately preceding Lease Year in question (the “Base CPI”), and whose denominator is the Base CPI, but in no event shall the “CPI Increase” be less than zero.

  • Base Compensation means the amount equal to the sum of (i) the greater of Executive’s then-current Annual Base Salary or Executive’s Annual Base Salary as of the date one (1) day prior to the Change of Control; and (ii) the average of the Incentive Bonus paid (or payable) for the three (3) most recently completed fiscal years of the Company.

  • Merit Increase means an increase in the rate of pay of an employee within the employee’s pay range which may be granted in recognition of satisfactory service on the employee’s anniversary date.

  • Accrued Base Salary means the amount of Executive's Base Salary which is accrued but not yet paid as of the Date of Termination.

  • Salary as defined in Section 3.1(a).

  • Basic Salary shall have the meaning assigned to it in Section 5 of this Agreement.

  • Salary reduction plan means a benefit plan whereby state and

  • Annual Cash Compensation means the sum of (a) the highest annual Base Salary in effect for the Executive and (b) the greater of (i) the Executive’s bonus for the most recently-completed year, if any, or (ii) the annualized amount of the Executive’s target bonus for the then current year.

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

  • Monthly Salary Rate means the amount agreed to by Owner that can be used on Applications for Payment throughout the Construction Phase to account for the monthly salary costs of Contractor’s salaried personnel assigned to the Project. A Monthly Salary Rate must be established for each salaried person and must be approved in writing by Owner in advance of any Application for Payment for that person. The Monthly Salary Rate is for convenience only and any payments made for Contractor’s personnel are subject to audit to determine the actual cost of the wages and allowable employer contributions incurred by Contractor for services performed. The initial Monthly Salary Rate is included in Exhibit “G” attached to this Agreement.

  • Incremental Increase has the meaning specified in Section 2.16(a).

  • Basic Compensation means Salary and Benefits.

  • Target Annual Bonus has the meaning set forth in Subsection 3b.

  • Incremental Revolving Increase has the meaning set forth in Section 2.16(a).

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Final Salary means the average annual salary for service for which

  • Annual Bonus shall have the meaning set forth in Section 4(b) hereof.

  • Increase Amount is defined in Section 2.3(a).

  • Deferral Amount means the sum of all of a Participant's Annual Deferral Amounts.