Achievement Incentive Sample Clauses

Achievement Incentive. (a) As soon as practicable following June 30, 1999, the Employee shall be entitled to receive the amount determined under paragraph (c) below (the "Achievement Incentive"), provided that: (i) the Employee is employed by the Company on June 30, 1999 or his employment has been terminated prior to such date by the Company other than for Cause or by the Employee following a Material Employment Change or by reason of the Employee's death or Disability; and (ii) the average closing price of the Common Stock on the Exchange during the Closing Period is at least $2.00 per share. (b) If (i) the average closing price of the Common Stock on the Exchange during the Closing Period is less than $2.00 per share or (ii) the Employee's employment is terminated prior to June 30, 1999 by the Company for Cause or by the Employee other than (A) following a Material Employment Change or (B) on account of the Employee's death or Disability, no Achievement Incentive shall be paid to the Employee. (c) If an Achievement Incentive becomes payable in accordance with paragraph (a) above, the amount of such Achievement Incentive shall be equal to the sum of (i) $99,655 plus (ii) the product of (A) $99,655 multiplied by (B) a fraction, the numerator of which is the excess, if any, of the average closing price of the Common Stock on the Exchange during the Closing Period over $2.00, and the denominator of which is $3.00 (provided, however, that in no event shall such fraction exceed 1). (d) If an Achievement Incentive becomes payable to the Employee, then (i) the first 40% of such Achievement Incentive shall be paid in cash and (ii) the remaining 60% of such Achievement Incentive shall be paid in cash, Common stock or a combination thereof, as determined in the sole discretion of the Company. (e) Appropriate adjustments in the dollar amounts set forth in Sections 3(a)(ii), 3(b)(i) and 3(c)(ii)(B) shall be made by the Company to give effect to changes in the Common Stock resulting from subdivisions, consolidations or reclassifications of the Common Stock, the payment of dividends or other distributions by the Company (other than dividends or other distributions determined by the Company to be in the ordinary course), mergers, consolidations, combinations or similar transactions or other relevant changes in the capital of the Company.
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Achievement Incentive. Student achievement incentive Schools that reach the top two (2) colors (green or lime green rating) or the top two (2) letter grades (A or B) as results reported by the Michigan Department of Education, would have a stipend awarded to their teaching staff in the amounts of $300, $350, $400 or $450 dollars, each year of the contract as long as the school maintains that status. Teachers must be present 98% of the work days with the school year to receive the bonus.
Sample 1
Achievement Incentive. The Board believes that competition for recognition of our schools from outside the District can serve as a catalyst for the improvement of our schools and for the growth of our administrative, teaching, and support staff as well. Consequently, the Board wishes to encourage District Administrators and their schools to engage in the pursuit of outside recognition. 1. If a school competes for a Blue Ribbon award (or its equivalent according to the USDOE), a Star School award, or a National Green Ribbon award, the Board will provide extra secretarial help to complete the application(s). The amounts and uses of this extra secretarial help will be defined and approved in advance by the Superintendent in each case. 2. When a building receives a Blue Ribbon award (or equivalent), a Star School award or a National Green Ribbon Award, the Board will pay: a. a one-time stipend to the administrator of the building ($2,500.00) for Blue Ribbon award (or equivalent) ; ($1,750.00) for Star School award); and ($1,000.00) for a National Green Ribbon award. b. a one-time building grant for the school ($5,000.00) for Blue Ribbon award (or equivalent); ($3,000.00 for Star School award; ($2,000.00) for National Green Ribbon award, the expenditure of which shall be approved by the Superintendent in advance.
Sample 1

Related to Achievement Incentive

  • Performance Incentive 4.10.1 If the Seller delivers Coal to the Purchaser in excess of ninety percent (90%) of the ACQ in a particular Year, the Purchaser shall pay the Seller an incentive (“Performance Incentive”/ “PI”), to be determined as follows: PI = P x Additional Deliveries x Multiplier Where: PI = The Performance Incentive payable by the Purchaser to the Seller P = The Base Price of Highest Grade, as shown in Schedule II Additional Deliveries = Quantity [in tonnes] of Coal delivered by the Seller in the relevant Year in excess of 90% of the ACQ. Multiplier shall be 0.15 for Additional Deliveries between 90%-95% of ACQ and 0.30 for Additional Deliveries in excess of 95% of ACQ. 4.10.2 With respect to part of a Year in which the term of this Agreement begins or ends, the relevant quantities in Clause 4.10.1, except the Multiplier, shall apply pro-rata. 4.10.3 Within thirty (30) days of expiry of a Year, the Seller shall submit an invoice to the Purchaser with respect to the PI payable in terms of Clause 4.10.1 and the Purchaser shall pay the amount so due within thirty (30) days of the receipt of the invoice. In the event of non-payment of PI by the due date, the Seller shall have the right to suspend Coal supplies without absolving the Purchaser of its obligations under this Agreement.

  • Incentive Bonus Plan Employee shall be eligible for a bonus opportunity of up to 65% of his annual base salary in accordance with the Company’s Incentive Bonus Plan as modified from time to time, payable in cash and/or equity of the Company (at the Company’s discretion). The bonus payment and the Company’s targeted performance shall be determined and approved by the Board or the compensation committee thereof.

  • Retirement Incentive a) If an employee gives the Board an irrevocable notice of retirement by February 1st four (4) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining four (4) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st three (3) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining three (3) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st two (2) years prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for each of his/her remaining two (2) years of service. If an employee gives the Board an irrevocable notice of retirement by February 1st one (1) year prior to the school year of retirement, the Board shall pay him/her a six percent (6%) retirement incentive, inclusive of all other increases in TRS creditable compensation, for his/her remaining year of service. Once an employee submits an irrevocable notice of retirement by February 1st, that employee shall be removed from the salary schedule contained in Article IX of this Agreement. All calculations for increased TRS creditable earnings will be based on the TRS creditable earnings in the year prior to the submission of the irrevocable notice of retirement. Once the employee submits an irrevocable notice of retirement an employee’s creditable earnings shall be increased by six percent (6%) of the previous year, but in no case will the employee’s TRS creditable earnings increase exceed six percent (6%) of the previous year. If, after submitting an irrevocable notice of retirement by February 1st, the employee resigns from, or is dismissed from duties for which the employee was paid a stipend or additional compensation the previous year, the retirement incentive for that employee will be recalculated accordingly. b) To be eligible, an employee must submit an irrevocable notice of retirement by February 1st which must be accompanied by a Teachers’ Retirement System (TRS) member requested “Personal Statement of Benefits” and a “Benefit Estimate” confirmation of total years of service. An employee with ten (10) years of full-time service with Neoga C.U.S.D. No. 3 is considered to be eligible for the retirement incentive by meeting one of the following conditions at the time of retirement: 1) The employee is sixty (60) years of age and has ten (10) years of creditable TRS service. 2) The employee is at least fifty-five (55) years of age and has thirty- five (35) years of creditable TRS service. c) If, during the term of this Agreement, any legislation and/or TRS rules/regulations are enacted or not reenacted and/or adopted or amended that result in a greater cost to the District than the costs generated by this Agreement, or that change the definition of what is subject to the 6% TRS cap, the parties agree that this Section shall be null and void and upon the demand of any party shall meet to bargain language to succeed this paragraph.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

  • Management Incentive Plan “Management Incentive Plan” shall mean the Company’s bonus program, as implemented by the Company’s board of directors from time to time and pursuant to which the Executive may receive incentive-based compensation at fiscal year end.

  • Performance Incentives As a bonus, to supplement Assistant Coach’s compensation, as set out herein, the University agrees to pay the following sums upon attainment of each specified goal, provided the Program is in compliance with all Governing Athletics Rules and University Rules, and there are no pending or active NCAA or __________ Conference investigations or major violations of which Assistant Coach knew or should have known. Assistant Coach must also complete the _________ [insert sport] season as an Assistant [Men’s/Women’s] [delete if sport is football] __________ Coach to receive any performance incentives for that season. Payment will be made to Assistant Coach within 60 days after goal is accomplished. (a) $_________ in any contract year in which the team wins the __________ Conference championship. (b) $_________ in any contract year in which the team participates in post-season NCAA competition. (c) $_________ for each game that the team wins in NCAA post-season competition. (d) $_________ in any contract year in which the team wins the NCAA championship.]

  • Performance Bonus The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

  • Incentive Bonuses After the Company attains profitability, the Employee shall be eligible to be considered for an annual incentive bonus. Such bonus (if any) shall be awarded based on objective or subjective criteria established in advance by the Board or its Compensation Committee. The determinations of the Board or its Compensation Committee with respect to such bonus shall be final and binding. Except as expressly provided in this Agreement, the Employee shall not be entitled to an incentive bonus if he is not employed by the Company on the date when such bonus is payable.

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

  • Annual Incentive Bonus The Company shall, in addition to Executive’s Base Salary, pay Executive an Annual Incentive Bonus, which shall be payable within 120 days of the end of each fiscal year in accordance with the formula set forth on Exhibit A, attached hereto and made a part hereof.

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