Gain Sharing Program Sample Clauses

Gain Sharing Program. The Company and Union will continue the current productivity-based incentive plan. This Gain Sharing Program is designed to motivate employees to meet or exceed production goals, established by management, with a payment not to exceed twice their normal weekly pay. Changes in the gain sharing formula, criteria, or structure shall be made at Company discretion after consultation with the Gain Sharing Committee and Business Representative.
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Gain Sharing Program. A. Policy: Under the authority of 5 U.S.C. 4501-4503 and 4505, AOC agrees to pay a cash reward for "efficiency" or "economy." The program will be known as the Gain sharing Travel Savings Program(GTSP). It will reward employees who save the AOC money while on official travel. These savings will apply to the use of alternative lodging for official travel to the extent permissible under Federal Travel regulations, as well as any applicable Federal Travel Advisories or waivers issued by the General Services Administration. Employee participation in this program is optional. The amount of the award for the employee will be 50 percent of the savings on lodging expenses. Taxes will be withheld (Federal, State, local, FICA) on the award amount. Employees should not incur additional expenses in transportation, taxes or other miscellaneous costs in an effort to reduce lodging expenses. Employees who incur additional expenses must have those expenses deducted from their lodging savings. All hotels/motels utilized by employees within the United States, its Territories and Possessions must meet the requirements of the Hotel and Motel Fire Safety Act of 1990. B. Lodging Savings – Employees who participate in the program can receive cash awards for savings when: (1) Employees incur lodging expenses at a daily rate which is less than the authorized lodging rate for the Temporary Duty (TDY) location. The authorized lodging rate is the published GSA lodging rate for domestic travel and the published State Department lodging rate for foreign travel or the lodging rate authorized on the travel orders in cases involving TDY assignments in excess of sixty days where it has been determined in advance that lodging will be lower. The TDY location is the primary work site location (e.g. location of the base of operations for the aircraft); or (2) Employees stay with relatives or friends while on official travel and avoid lodging expenses; or (3) Employees share accommodations obtained through contract, that are prepaid or when lodging is paid for by employees. The employees should arrange to be billed separately. If this is not possible, a daily rate must be determined for each employee. Divide the total lodging costs by the number of employees and the number of nights to arrive at a daily rate for each employee. Lodging savings will not be made for lodging cost incurred on personal time such as annual leave during official travel or any other type of personal preference travel use...
Sample 1
Gain Sharing Program. It is agreed between the Union and the Corporation that the Corporation will initiate a Gain Sharing Program which will be implemented upon mutual ratification of this Final Offer. The Gain Sharing Program is founded on the belief that the Corporation’s employees know their job functions best. Frontline workers are the cornerstone of a successful and productive workplace. Horizon Utilities shall compensate all bargaining unit employees who strive for continuous improvement, with a goal of offering our customers ‘best value.,’ The terms and conditions of the implementation and the continuance of the program are as follows;
Sample 1
Gain Sharing Program. Each participant will receive payment based on [*]
Sample 1

Related to Gain Sharing Program

  • Traditional Individual Retirement Custodial Account The following constitutes an agreement establishing an Individual Retirement Account (under Section 408(a) of the Internal Revenue Code) between the depositor and the Custodian.

  • Xxxx Individual Retirement Custodial Account The following constitutes an agreement establishing a Xxxx XXX (under Section 408A of the Internal Revenue Code) between the depositor and the Custodian.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Multiple Individual Retirement Accounts In the event the depositor maintains more than one Individual Retirement Account (as defined in Section 408(a)) and elects to satisfy his or her minimum distribution requirements described in Article IV above by making a distribution from another individual retirement account in accordance with Item 6 thereof, the depositor shall be deemed to have elected to calculate the amount of his or her minimum distribution under this custodial account in the same manner as under the Individual Retirement Account from which the distribution is made.

  • SIMPLE Individual Retirement Custodial Account (Under section 408(p) of the Internal Revenue Code) The participant named above is establishing a savings incentive match plan for employees of small employers individual retirement account (SIMPLE IRA) under sections 408(a) and 408(p) to provide for his or her retirement and for the support of his or her beneficiaries after death. The custodian named above has given the participant the disclosure statement required by Regulations section 1.408-6. The participant and the custodian make the following agreement:

  • Retirement Plans (a) In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (“Qualified Plans”) (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, Transfer Agent shall provide the following administrative services: (i) Establish a record of types and reasons for distributions (i.e., attainment of eligible withdrawal age, disability, death, return of excess contributions, etc.); (ii) Record method of distribution requested and/or made; (iii) Receive and process designation of beneficiary forms requests; (iv) Examine and process requests for direct transfers between custodians/trustees, transfer and pay over to the successor assets in the account and records pertaining thereto as requested; (v) Prepare any annual reports or returns required to be prepared and/or filed by a custodian of a Retirement Plan, including, but not limited to, an annual fair market value report, Forms 1099R and 5498; and file same with the IRS and provide same to Participant/Beneficiary, as applicable; and (vi) Perform applicable federal withholding and send Participants/Beneficiaries an annual TEFRA notice regarding required federal tax withholding. (b) Transfer Agent shall arrange for PFPC Trust Company to serve as custodian for the Retirement Plans sponsored by a Fund. (c) With respect to the Retirement Plans, Transfer Agent shall provide each Fund with the associated Retirement Plan documents for use by the Fund and Transfer Agent shall be responsible for the maintenance of such documents in compliance with all applicable provisions of the Code and the regulations promulgated thereunder.

  • Distribution Plans You shall also be entitled to compensation for your services as provided in any Distribution Plan adopted as to any series and class of any Fund’s Shares pursuant to Rule 12b-1 under the 1940 Act. The compensation provided in any such Distribution Plan (a “12b-1 Plan”) may be divided into a distribution fee and a service fee, as set forth in such Plan and the Fund’s then current prospectus and statement of additional information (“SAI”), each of which is compensation for different services to be rendered to the Fund. Subject to the termination provisions in a 12b-1 Plan, any distribution fee with respect to the sale of a Share subject to such Plan shall be earned when such Share is sold and shall be payable from time to time as provided in the 12b-1 Plan. The distribution fee payable to you as provided in any 12b-1 Plan shall be payable without offset, defense or counterclaim (it being understood by the parties hereto that nothing in this sentence shall be deemed a waiver by the Fund of any claim the Fund may have against you).

  • Savings Plans Employee shall be entitled to participate in Employer’s 401(k) plan, or other retirement or savings plans as are made available to Employer’s other executives and officers and on the same terms which are available to Employer’s other executives and officers.

  • Account Balances Balances shown in your accounts may include deposits subject to verification by us. The balance reflected in the Service may differ from your records due to deposits in progress, checks outstanding, or other withdrawals, payments or charges. A transfer request may not result in immediate availability because of the time required to process the request. A transfer request must be made before the Business Day Cut-off time to be effective the same Business Day. The balances within the Service are updated periodically and the Service will display the most current "as of" date on the "accounts" summary page. There may be situations that cause a delay in an update of your balances. The Service will use the most current balance available at the time of a transaction to base our approval for account transfers.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law. (b) It is understood that the administrative intent of this Article is that the Employer contribution is made for individuals who are participants in the medical insurance coverages. Participation will mean that eligible less-than-full-time employees who drop out of coverage will be considered to participate. Additionally, employees who elect to opt out of coverage for a cash incentive will be considered to participate.

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