20-270 20-270 . . . Executive Incentive Plan under which corporation can award restricted stock and units. Restricted stock consists of common stock of corporation which contains restrictions on transfer and forfeiture in event of termination of employment prior to expiration of time period specified in grant. units are equivalent of corporation's book value per share and are issued and credited on corporation's books to employees on condition that said units must be resold to corporation. Corporation must purchase units at end of 5 year incentive period or upon termination of employment (whichever comes first) for amount equivalent to book value at that time plus dividends declared during incentive period and less book value on date of grant
North Carolina Executive Incentive Plan
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US-CC-20-270
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The News & Observer obtained the pay levels through a public-records request to the legislature. Officials provided the salary levels as they stood on June 30, 2023, before raises provided by a new state budget that became law in October.
The average State of North Carolina salary ranges from approximately $38,209 per year for an Office Assistant to $139,301 per year for a Director. The average State of North Carolina hourly pay ranges from approximately $22 per hour for an Administrative Assistant to $66 per hour for a Director.
Description of Work. Salary Grade: NC08 Salary Range: $35,788 - $62,628. As of June 1,2023, the new salary range will be $36,682 - $64,194.
The bonus will be paid in two equal installments, the first in October 2023 to employees continuously employed since July 1, 2023, and the second in April 2024 to employees continuously employed since October 1, 2023.
Salary Grade: NC08 Salary Range: $35,788 - $62,628.
Permanent, full time employees employed on or before February 1 2024, and have maintained employment through April 5, 2024, will receive a retention bonus of $2,000.
The new raises are retroactive to July 1, so they will be paid out in future paychecks. Senate Republicans say the new budget will increase the average pay for teachers to $60,671 by the 2024-25 school year. That figure includes the money that counties provide to supplement the state pay.
The budget gives larger raises to beginning teachers, with raises decreasing with years of experience. Those base salary raises range from 3.6 to 10.8% over the biennium. Beginning teacher pay is set to increase from $37,000 to $41,000 over the next two years, ing to the budget ? an increase of 10.8%.