Gain Sharing Program Sample Clauses

Gain Sharing Program. 17 The Company and Union will continue the current productivity-based incentive plan. This Gain Sharing 18 Program is designed to motivate employees to meet or exceed production goals, established by 19 management, with a payment not to exceed twice their normal weekly pay. Changes in the gain sharing 20 formula, criteria, or structure shall be made at Company discretion after consultation with the Gain 21 Sharing Committee and Business Representative. 22
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Gain Sharing Program. Each participant will receive payment based on [*]
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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...
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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;
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Related to Gain Sharing Program

  • Profit Sharing Plan Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the Executive tier under the Plan’s Responsibility Factors. If Employer is required to prepare an accounting restatement due to “material noncompliance of the Employer,” the Employer will recover from the Executive any incentive compensation during the three (3) years prior to the date of the restatement, in excess of what would have been paid under the restatement. Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer due to such restatement(s).

  • 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.

  • 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: