The yearly salaries for each contractual year will be paid in twenty-six (26) equal installments, payable every other Friday with the first pay period beginning the second Friday after the first work day of each contract year. All non-bargaining unit salaried employees shall be paid on this schedule.

The annualization of pay constitutes deferred compensation, and is subject to the Internal Revenue Service 409A regulations. The District must create a writing or writings that specify the amount of an employee's salary, how it is paid, and any possible changes to the schedule of payment. This policy, along with each employee's annual salary notice, satisfies the requirements of 409A.

In the event that separation from service occurs before the end of the 12 month payment period, an employee will be entitled to additional payment for the amount actually earned from the beginning of the 12 month payment period until the date of separation from service, but for which no payment has been given. This additional payment will be included in the employee's final paycheck. For purposes of this policy "separation from service" has the same meaning as in §1.409A-1(h) of the Treasury Regulations (e.g. death, retirement, etc.)

SUPPLEMENTAL PAY SCHEDULE

Any person contracted for a supplemental position shall receive a lump sum payment at the conclusion of the activity for that school year.

R.C. 9.40, 3319.36

Revised 4/9/08