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.
Sample 1Sample 2Sample 3
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 Stage Description 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. Progression Criteria 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...
Sample 1

Examples of Top of Grade or Value Range Payment in a sentence

  • The Board may disclose any relevant information that it holds for the purpose of, or in connection with, performing a function under this Act to any person or body that it considers appropriate who is carrying out, or who proposes to carry out, research involving students.

  • 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.

  • 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.

  • Achieving Progression or Top of Grade or Value Range Payment Progression between progression steps or amounts or the payment of a Top of Grade or Value Range payment will occur if the Employee: meets the eligibility requirements set out in clause 29.5 or clause 29.6(as relevant); and is assessed as having met their Progression Criteria at the End of Cycle Performance Review.

  • Eligibility requirements for Progression or a Top of Grade or Value Range Payment 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.

Related to Top of Grade or Value Range Payment

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

  • Class C Par Value Ratio means, as of any Measurement Date on and after the Effective Date, the ratio (expressed as a percentage) obtained by dividing (a) the amount equal to the Adjusted Collateral Principal Amount by (b) the sum of the Principal Amount Outstanding of each of the Class A Notes, the Class B Notes and the Class C Notes.

  • SBI 1 Year MCLR Rate means 1 year Marginal Cost of Funds Based Lending Rate (MCLR) fixed by State Bank of India (SBI) / any replacement thereof by SBI for the time being in effect applicable for 1 year period, as on 1st April of the respective financial year in accordance with regulations and guidelines of Reserve Bank of India. In absence of such rate, any other arrangement that substitutes such rate as mutually agreed to by the Parties.

  • Class D Par Value Ratio means, as of any Measurement Date, the ratio (expressed as a percentage) obtained by dividing (a) the amount equal to the Aggregate Collateral Balance less the Par Value Test Excess Adjustment Amount by (b) the sum of the Principal Amount Outstanding of each of the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes.

  • Maximum Basic Grant Amount’ has the same meaning as set out in item 1 of Schedule 1 of HESA; ‘National Law’ means (a) for a state or territory other than Western Australia – the Health Practitioner Regulation National Law as set out in the Schedule to the Health Practitioner Regulation National Law Act 2009 (Qld) as it applies (with or without modification) as a law of the State or Territory; and (b) for Western Australia – the legislation enacted by the Health Regulation National Law (WA) Xxx 0000 that corresponds to the Health Practitioner Regulation National Law;

  • 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.

  • Class D Par Value Test means the test which will be satisfied as of any Measurement Date if, on such Measurement Date, the Class D Par Value Ratio is at least equal to the percentage specified in the definition of "Coverage Test".

  • 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).

  • Class C Par Value Test means the test which will be satisfied as of any Measurement Date if, on such Measurement Date, the Class C Par Value Ratio is at least equal to the percentage specified in the definition of "Coverage Test".

  • 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 5.0%.

  • 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:

  • AHYDO Catch-Up Payment means any payment, including payments made on subordinated debt obligations, in each case to the extent such payment is necessary to avoid the application of Section 163(e)(5) of the Code.

  • 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.

  • 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 day if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such day is equal to or greater than 5.5%

  • 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.

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

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

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

  • SPS AER Value means the Underlying Reference Value.