Common use of Compensation Committee Development of New Compensation System Clause in Contracts

Compensation Committee Development of New Compensation System. 1. The parties will continue meeting to develop a new compensation system (to replace the Pay for Performance (P4P) Program). Each party may designate up to seven (7) representatives to serve on the committee. The Assistant Director of Human Resource Services and the President of OCMA will serve as co-chairs of the committee. The purpose of the committee will be to review the current compensation and evaluation systems and recommend modifications to these systems as circumstances merit. 2. Other provisions of the MOU that affect compensation and evaluation, such as Article I, Section 2, may be changed as a result of the committee’s recommendations. 3. The committee will meet on an as-needed basis, and have as its goal to complete its work no later than May 31, 2020.

Appears in 6 contracts

Samples: Memorandum of Understanding, Memorandum of Understanding, Memorandum of Understanding

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!