Compensation Distribution Pool Sample Clauses
The Compensation Distribution Pool clause establishes a designated fund or account from which compensation payments are distributed to eligible parties. Typically, this pool aggregates monetary contributions from various sources, such as company profits or specific revenue streams, and outlines the criteria for how and when distributions are made to employees, contractors, or stakeholders. Its core practical function is to ensure a transparent and equitable process for allocating compensation, thereby reducing disputes and clarifying expectations regarding payment distribution.
Compensation Distribution Pool. For the purpose of calculating the amount available in fiscal years FY 22, FY 23 and FY 24 for EAGWIs and merit distributions out of the Compensation Pool as set forth in Article 13, the following procedures will apply:
A) taking the totbSalaries of all bargaining unit members as of the first Thursday in April in the preceding fiscal year and
B) deducting from that calculated number the totbSalaries of all bargaining unit members hired after December 31st of the preceding fiscal year and the totbSalaries of bargaining unit members participating in the Alternative Bonus Plans (ABP).
i) In FY 22, FY 23, and FY 24,, the Compensation Distribution Pool shall be 4.5% of that resulting number or the Distribution Pool Floor, whichever is higher. For the purpose of allocating the Distribution Pool or Distribution Pool floor (if used), the Pool shall be proportionally divided between the SOM and the SODM based upon the ratio of totbSalaries from each used to calculate the Distribution Pool; in this division the EAGWIs for faculty in the ABP will not be considered.
Compensation Distribution Pool. For the purpose of calculating the amount available in fiscal years FY 20 and FY 21 for EAGWIs and merit distributions out of the Compensation Pool as set forth in Article 12, the following procedures will apply:
A) taking the totbSalaries of all bargaining unit members as of the first Thursday in April in the preceding fiscal year and
B) deducting from that calculated number the totbSalaries of all bargaining unit members hired after December 31st of the preceding fiscal year and the totbSalaries of bargaining unit members participating in the Alternative Bonus Plans (ABP).
i) In FY 20, the Compensation Distribution Pool shall be 5.5% of that resulting number or the Distribution Pool Floor, whichever is higher.
ii) In FY 21, the Compensation Distribution Pool shall be 5.5% of that resulting number or the Distribution Pool Floor, whichever is higher. For the purpose of allocating the Distribution Pool or Distribution Pool floor (if used), the Pool shall be proportionally divided between the SOM and the SODM based upon the ratio of totbSalaries from each used to calculate the Distribution Pool; in this division the EAGWIs for faculty in the ABP will not be considered.
Compensation Distribution Pool. For the purpose of calculating the amount available in each fiscal year for EAGWIs and merit distributions out of the 5% of the bargaining unit base salary account, the following procedures will apply: