Bonus Eligibility and Payment. Executive is currently eligible to receive a bonus based on application of the terms of the executive bonus plan (i.e. if the Company fails to meet minimum financial objectives or Executive fails to complete personal objectives under the plan, no bonus will be paid). Such bonus, if any, will be paid to Executive at approximately the same time other Company Executives receive their bonuses.
Bonus Eligibility and Payment. The target amount of Executive's fiscal year 2000 bonus will be $ 45,000.00. Actual payments under the bonus plan will be based on application of the terms of the Executive Bonus Plan in effect at the time of this Agreement.
Bonus Eligibility and Payment. The target amount of Key Executive's fiscal year 2000 bonus will be $100,000.00. Actual payments under the bonus plan will be based on application of the terms of the published Executive Bonus Plan.
Bonus Eligibility and Payment. The target amount of Executive's ----------------------------- fiscal year 2001 bonus will be $____________. Actual payments under the bonus plan will be based on application of the terms of the published Executive Bonus Plan and the achievement of performance targets for both Company and Executive.
Bonus Eligibility and Payment. 1. In order to receive the hiring bonus, the employee must have successfully passed probation or received an overall Satisfactory rating on the employee’s most recent performance rating.
2. In order to receive the hiring bonus, a qualified employee must have received no disciplinary action beyond a written reprimand during the first 6 months of the employee’s employment.
3. The hiring bonus shall be paid in a lump sum after six (6) months of satisfactory employment.
4. The hiring bonus will be paid only to employees who are in active employment status at the time the bonus payment is processed. If the employee leaves State service before payment of the hiring bonus is due the employee forfeits the bonus.
5. If an eligible employee transfers from one unit to another during the measurement period, the employee’s current unit will pay the bonus if the employee qualifies for it.
6. A qualified employee may receive both a hiring bonus and a bonus pursuant to the Registered Nurse Retention and Attendance Bonus Program if the employee meets the eligibility requirements for both bonuses.
1. Bonuses will be prorated for part-time employees.
2. A payment made pursuant to the Registered Nurse Hiring Bonus will affect the regular rate of pay for the purposes of calculating overtime for FLSA non-exempt employees. A new hourly rate must be calculated to include the full amount of the bonus. The difference between the recalculated rate and the normal base rate must be applied to any overtime worked during the measurement period.
