Common use of Existing Incentives Clause in Contracts

Existing Incentives. a. A “Conversion to Base Rate of Pay factor” (CBF) will be used to convert existing incentive plan performance to a percentage of Base Rate of Pay. This conversion is calculated by multiplying the incentive plan percent performance above the August 1, 1999 USS-USW Basic Labor Agreement incentive calculation rate (ICR) by the CBF. The CBF shall be 0.37 as of the Effective Date of this Agreement. Conversion Example 55% x 0.37 (CBF) = 20 % of Base Rate of Pay. Example plan average performance = 155% Percent Performance above the ICR = 55% Conversion to a percentage of Base Rate of Pay: b. Incentive earnings shall be calculated by multiplying the CBF by the incentive plan percent performance above the ICR and multiplying the resultant product by the appropriate Base Rate of Pay.

Existing Incentives. a. A “Conversion to Base Rate of Pay factor” (CBF) will be used to convert existing incentive plan performance to a percentage of Base Rate of Pay. This conversion is calculated by multiplying the incentive plan percent performance above the August 1, 1999 USS-USW Basic Labor Agreement incentive calculation rate (ICR) by the CBF. The CBF shall be 0.37 as of the Effective Date of this Agreement. Conversion Example 55% x 0.37 (CBF) = 20 % of Base Rate of Pay. Example plan average performance = 155% Percent Performance above the ICR = 55% Conversion to a percentage of Base Rate of Pay:: 55% x 0.37 (CBF) = 20 % of Base Rate of Pay. b. Incentive earnings shall be calculated by multiplying the CBF by the incentive plan percent performance above the ICR and multiplying the resultant product by the appropriate Base Rate of Pay.