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BOARD OF TRUSTEES RESOLUTION TO AWARD MERIT INCREASES WHEREAS, it is the policy of the University to recognize and promote excellence in employee work performance through the annual granting of merit salary increases; and WHEREAS, the University has not been able to award merit increases to employees for several years because of the unavailability of funds; and WHEREAS, it is both desirable and equitable to take into account the past meritorious performance of employees when future funds become available to award merit increases, and WHEREAS, this policy of the University's Board of Trustees is not intended to guarantee future merit increases to employees in the absence of funds to pay for such increases, but is intended to make it possible for an employee to receive future credit for past meritorious performance for which no increase was awarded due to a lack of available funds; NOW THEREFORE BE IT RESOLVED AS FOLLOWS: A The Board of Trustees of the University hereby approves, reaffirms and adopts the following policy on merit increases: (a) It is the policy of the University to include in its annual budget submission to the Legislature a request for funds to cover the cost of merit increases awarded to UVI employees. (b) It also is the policy of the University to award merit increases annually to deserving employees to the extent that funds are available for that purpose. (c) Subject to the availability of funds, as determined by the President in the exercise of his judgment, it is the goal of the University to award annually a merit increase of 4.5% to any employee whose overall performance is rated as “excellent” for the year, a merit increase of 3% to any employee whose overall performance is rated as “very good” for the year, and a merit increase of 1.5% to any employee whose overall performance is rated as “good/satisfactory” for the year. (d) Performance for which an employee is eligible to receive a merit increase under this policy is called “meritorious performance.” Merit increases are deemed to be awarded in the year in which funds are available, not in the year in which meritorious performance is rendered. 3. This Resolution shall take effect immediately upon its adoption. The President and Vice President for Business and Financial Affairs are hereby authorized to take such action as may be necessary to implement this policy. CERTIFICATION The undersigned does hereby certify that the foregoing is a true and exact copy of the resolution of the Board of Trustees of the University of the Virgin Islands adopted at its meeting on Saturday, October 17, 1998, as recorded in the minutes of said meeting. Secretary of the Board