Top of Grade or Value Range Payment definition

Top of Grade or Value Range Payment means the 1 per cent lump sum of the Employee’s Salary as at 30 June of the Performance Cycle, paid in accordance with this clause to an Employee at the top of their Grade or Value Range in lieu of Progression.
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Top of Grade or Value Range Payment means the 1 per cent lump sum of the Employee’s Salary as at 30 June of the Performance Cycle, paid in accordance with this clause to an Employee at the top of their Grade or Value Range in lieu of Progression. The Performance Cycle is twelve months (1 July to 30 June). All Employees must participate in the performance development and review process, including in the development of performance development plans and conduct of performance discussions and reviews. Employees who refuse to participate in the performance development and review process will be ineligible for Progression or Top of Grade or Value Range Payment, unless the Employee’s lack of participation is due to the Employer’s failure to initiate the performance development process. The performance development and review process has three formal stages: Table 11: Performance development and review process Commencement of the Performance Cycle Employer and Employee agree a performance development plan outlining: the agreed performance goals appropriate to the Employee’s role; and the agreed learning and development goals required for the Employee’s role and/or to build the Employee’s professional capacity and career opportunities. In addition, the Employee is expected to comply with the Public Sector Values and Code of Conduct for Victorian Public Sector Employees. Collectively these three elements constitute the Employee’s Progression Criteria. The expected standard for the setting of Progression Criteria is outlined in clause 29.3. Mid-Cycle Performance Review Undertaken around the mid-point of the Performance Cycle, the Employer and Employee meet to monitor and assess the Employee’s performance towards meeting their Progression Criteria. End of Cycle Performance Review Undertaken at the end of each Performance Cycle during which the Employee’s performance throughout the Performance Cycle is assessed to determine whether they have met the Progression Criteria. All Employees can expect informal and formal feedback about their performance throughout the Performance Cycle from their supervisor or manager. The Progression Criteria are to be agreed with each Employee at the start of the Performance Cycle or on the Employee’s commencement in a role. The Progression Criteria may be adjusted by agreement during the Performance Cycle. Progression Criteria should be sufficiently detailed and clear to enable proper assessment of performance to occur and be consistent with the Employee’s role, skills, capa...
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Examples of Top of Grade or Value Range Payment in a sentence

  • The amendment made to the Co-operative Insurance Companies Law in accordance with the Royal Decree (M/12) dated 23/1/1443H (corresponding to 01/09/2021) requires the minimum capital of insurance companies to be SAR 300 million by December 15, 2024.

  • If an Employee has been acting in a higher position for a period of twelve months at the end of the Performance Cycle and neither clause 31.4(b)(ii), 31.4(b)(iii) or 31.4(b)(iv) apply to the Employee, the Employee will be eligible to be considered for Progression or a Top of Grade or Value Range Payment for continued performance of the higher duties beyond 12 months.

  • Employees are eligible to be considered for a Progression or a Top of Grade or Value Range Payment unless any of the exclusions in clause 29.5(b) apply.

  • If an Employee has been acting in a higher position for a period of twelve months at the end of the Performance Cycle and neither clause 29.5(b)(ii), 29.5(b)(iii) or 29.5(b)(iv) apply to the Employee, the Employee will be eligible to be considered for Progression or a Top of Grade or Value Range Payment for continued performance of the higher duties beyond 12 months.

  • An Employee is eligible to be considered for a Progression or a Top of Grade or Value Range Payment when the Employee: has been continuously employed in the VPS for 12 months as at the end of the Performance Cycle; has been employed at their current substantive classification and progression point for 12 months at the end of the Performance Cycle; and has a current PDP in place (unless clause 31.7(c) is relevant).

Related to Top of Grade or Value Range Payment

  • FR Value means, in respect of a ST FR Valuation Date, Worst Value.

  • Maximum Basic Grant Amount’ has the same meaning as set out in item 1 of Schedule 1 of HESA;

  • Award Value means the value, in dollars, of an award made to a Participant and as stated in the applicable Award Agreement, which is provided under the Plan in the form of PSUs or RSUs, as the case may be.

  • SAR Value means the excess of the Fair Market Value (on the exercise date) over the exercise price that the participant would have otherwise had to pay to exercise the related Stock Option, multiplied by the number of shares for which the Stock Appreciation Right is exercised.

  • Daily Maximum Cash Amount means, with respect to the conversion of any Note, the quotient obtained by dividing (A) the Specified Dollar Amount applicable to such conversion by (B) forty (40).

  • Day-ahead Congestion Price means the Congestion Price resulting from the Day-ahead Energy Market.

  • Base Year Value means the assessed value of eligible property January 1 preceding the execution of the agreement plus the agreed upon value of eligible property improvements made after January 1 but before the execution of the agreement.

  • Minimum Weighted Average Coupon Test means a test that will be satisfied on any Measurement Date if the Weighted Average Coupon equals or exceeds 7.0%.

  • Annual Specified Amount means $400,000 escalated on each Anniversary Date by the percentage by which the CPI last published prior to such Anniversary Date has increased over the CPI last published prior to the grant of the Burswood Casino Licence.

  • Fifty-Percent or Greater Interest shall have the meaning ascribed to such term for purposes of Sections 355(d) and (e) of the Code.

  • 5-year Mid-Swap Rate means, in relation to a Reset Interest Period and the Reset Rate of Interest Determination Date in relation to such Reset Interest Period:

  • Change in Control Price means the highest price per share of Stock offered in conjunction with any transaction resulting in a Change in Control (as determined in good faith by the Committee if any part of the offered price is payable other than in cash) or, in the case of a Change in Control occurring solely by reason of a change in the composition of the Board, the highest Fair Market Value of the Stock on any of the 30 trading days immediately preceding the date on which a Change in Control occurs.

  • M5 Target Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 86.20% and (ii) the Aggregate Pool Balance for such Distribution Date determined as of the last day of the related Collection Period and (b) the amount, if any, by which (i) the Aggregate Pool Balance for such Distribution Date determined as of the last day of the related Collection Period exceeds (ii) the Targeted Overcollateralization Amount.

  • Total Exercise Price shall have the meaning set forth in Section 4(a) hereof.

  • Minimum Weighted Average Spread Test means a test that will be satisfied on any date of determination if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such date is equal to or greater than 5.00%.

  • Quarterly Average Excess Availability means, at any time, the daily average of the Excess Availability for the immediately preceding fiscal quarter as calculated by Agent in good faith.

  • Accelerated Purchase Minimum Price Threshold means, with respect to any Accelerated Purchase made pursuant to Section 2(b) hereof, any minimum per share price threshold set forth in the applicable Accelerated Purchase Notice.

  • M3 Target Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 85.50% and (ii) the Pool Balance for such Distribution Date and (b) the amount, if any, by which (i) the Pool Balance for such Distribution Date exceeds (ii) 0.50% of the Cut-off Date Balance.

  • Initial Exercise Price shall have the meaning set forth in Section 2.4.1.

  • M1 Target Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 70.00% and (ii) the Pool Balance for such Distribution Date and (b) the amount, if any, by which (i) the Pool Balance for such Distribution Date exceeds (ii) 0.50% of the Cut-off Date Balance.

  • Net Asset Value per Share means the Net Asset Value of a Fund divided by the

  • Maximum Incremental Facilities Amount means, at any date of determination, (a) the sum of (i) $500,000,000, plus (ii) an amount such that the Borrower is in Pro Forma Compliance with the Senior Secured Leverage Test (for the avoidance of doubt without netting any cash from the proceeds of any Indebtedness being incurred in reliance on such test and, if applicable, assuming the full amount of any New Revolving Credit Commitments are drawn), plus (iii) amounts used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to refinance or replace Revolving Credit Commitments and/or Term Loans (including any fees, accrued interest or other amounts owing in respect thereof), plus (iv) from and after the 2012 Extension Effective Date, the aggregate principal amount of 2014 Term Loans outstanding as of such date of determination, provided that such additional amounts pursuant to this clause (iv) are only available to the extent such amounts are used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to prepay 2014 Term Loans in accordance with Section 5.1 of this Agreement (such prepaid 2014 Term Loans, “Incremental Facility Prepaid 2014 Term Loans”) plus (v) the Dollar Equivalent principal amount of Term Loans (other than New Term Loans, Incremental Facility Prepaid 2014 Term Loans or Term Loans refinanced or replaced pursuant to clause (iii) above) voluntarily prepaid pursuant to Section 5.1 prior to such date, plus (vi) the amount of all Revolving Credit Commitments that have either been permanently reduced pursuant to Section 4.2 or have otherwise terminated in accordance with the terms of this Agreement after the 2012 Extension Effective Date (without duplication of the amounts incurred pursuant to clause (iii) above) minus (b) the sum of (i) the aggregate principal amount of New Loan Commitments incurred pursuant to Section 2.14(a) prior to such date and (ii) the aggregate principal amount of Permitted Other Indebtedness issued or incurred pursuant to Section 10.1(bb)(i)(a) prior to such date.

  • Maximum Share Amount shall have the meaning set forth in Section 2.01(c).

  • SPS AER Value means the Underlying Reference Value.

  • Quarterly Excess Available Funds Percentage means, with respect to the March 2008 Transfer Date and each Transfer Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Available Funds Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

  • Cash Interest Coverage Ratio With respect to any Loan for any Relevant Test Period, either (a) the meaning of “Cash Interest Coverage Ratio” or comparable definition set forth in the Underlying Instruments for such Loan, or (b) in the case of any Loan with respect to which the related Underlying Instruments do not include a definition of “Cash Interest Coverage Ratio” or comparable definition, the ratio of (i) EBITDA to (ii) Cash Interest Expense of such Obligor with respect to the applicable Relevant Test Period, as calculated by the Borrower and Collateral Manager in good faith.