Effective Date: 1/1/2007

2.12 Salary Administration

The salary administration program at Grubstake was created to achieve consistent pay practices, comply with federal and state laws, and offer competitive salaries within our labor market. Because recruiting and retaining talented employees is critical to our success, Grubstake is committed to paying its employees equitable wages that reflect the requirements and responsibilities of their positions.

Compensation for every position is determined by several factors, including job analysis and evaluation, the essential duties and responsibilities of the job, and salary survey data on pay practices of other employers. Grubstake periodically reviews its salary administration program and restructures it as necessary. Merit-based pay adjustments may be awarded in conjunction with superior employee performance documented by the performance evaluation process. Incentive bonuses may be awarded depending on the overall profitability of Grubstake and based on each employee's individual contributions to the organization.

Employees should bring their pay-related questions or concerns to the attention of their immediate supervisors, who are responsible for the fair administration of departmental pay practices. The Personnel Manager is also available to answer specific questions about the salary administration program.

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