Pay Rise Agreement Made Easy: Free Template for Transparent Salary Increases
This document is a Pay Rise Agreement, designed to formalize an increase in an employee's salary. It serves as an amendment to an existing employment contract, specifying the new salary amount and its effective date. The agreement clarifies that it supplements, rather than replaces, the original contract, with most of the original terms remaining in effect.
PAY RISE AGREEMENT
This Pay Rise Agreement (hereinafter referred to as the "Agreement") is made and effective on [effective date] (the “Effective Date”), and is entered into
BY AND BETWEEN: | [employer], hereinafter referred to as the “Employer”. |
AND: | [employee], hereinafter referred to as the “Employee”, collectively referred to as the “Parties”. |
Background:
The relationship between the Employer and Employee is governed by the original contract of employment, which is amended as of [effective date].
This Agreement supplements the original contract of employment and should not be considered a replacement.
Consideration:
In consideration of the following conditions agreed upon by the parties to this Agreement, for which the receipt and sufficiency have been acknowledged, the parties agree as follows:
This Agreement amends the terms and conditions of the original contract of employment.
The employee’s salary is increased from [old salary] to [new salary].
The revised salary will be in force from [effective date].
The salary is payable per the original contract of employment, and any deductions from the salary will be deducted as required by law.
The terms and conditions of the original contract of employment will govern the relationship between the parties, except where the context requires otherwise.
Until a new employment agreement is created, this Agreement will precede the original contract of employment.
The parties to this Agreement acknowledge that the terms and conditions of this Agreement are valid, reasonable, and are enforceable. Any dispute arising from this Agreement will be put before the forum stipulated in the original contract of employment.
In case any of the provisions of this Agreement, either in full or part, become unenforceable or invalid, the Agreement will cease to exist to the extent of that provision. The rest of the Agreement will be in force until its expiration date.
Signatures
Employer | Employee |
Signed [signature] | Signed [signature] |
Print Name | Print Name |
Date | Date |
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