What is coverage award?

Celestino O'Connell asked a question: What is coverage award?
Asked By: Celestino O'Connell
Date created: Mon, May 3, 2021 11:14 AM
Date updated: Mon, Jan 30, 2023 5:39 PM


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Abp news receives the best news coverage award

Top best answers to the question «What is coverage award»

Covered Award means an Award, other than an Option or other Award with an exercise price per Share not less than the Fair Market Value of a Share on the date of grant of such Award, to a Covered Employee, if it is designated as such by the Committee at the time it is granted.


Those who are looking for an answer to the question «What is coverage award?» often ask the following questions:

😎 What does award coverage mean?

A modern award covers an employee if the modern award is expressed to cover the employee. Each modern award contains a coverage clause (usually at clause 4) that defines who is covered by the award.

😎 How do you determine award coverage?

Coverage in most modern awards is defined according to industry however some modern awards apply on an occupational basis. The relevant modern award can be determined by considering the industry of the employer and comparing the duties performed by the employees to the classification definitions in the modern award.

😎 Can a contract change the award coverage of an employee?

  • The award coverage of an employee cannot be altered by ‘agreement’ or based on any contractual provisions to that effect. However, employers and employees sometimes mistakenly refer in an employment contract to an award that would not objectively cover the employee.

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