ARTICLE 3: SALARY SCHEDULE

3.02 Method of Pay

1.  Effective September following the parties signing the renewal of the collective agreement:

Teachers employed on a Form 2 or Teacher General contract shall receive their salary payment in twenty-four (24) equal installments payable on the last banking day on or before the 15^th of the month and the end of the month.

Teachers employed on a Limited Term Teacher contract shall receive their salary in twenty-four (24) equal installments payable on the last banking day on or before the 15^th of the month and the end of the month except for the July and August installments which shall be payable on the last teaching day in June.

2. Where applicable, the per diem rate shall be annual salary divided by the number of school days in a school year.

3. When a teacher leaves the employ of the Division or is granted long-term leave without pay, the final payment shall be the difference between the product of the number of days taught in the school year multiplied by the per diem rate and the total gross pay already received by the teacher during the school year.