Incentive Program Participation Options Sample Clauses

Incentive Program Participation Options. A. (One Year Notice) In order to participate, the teacher must submit an irrevocable letter of resignation to the Board of Education by June 30th, one (1) year prior to retirement. The teacher shall then be removed from the salary schedule and receive a six percent (6%) increase over his/her TRS creditable earnings for work done as a District employee for the prior year, for his/her regular teaching duties only, as compensation for the last year of employment. For example: $50,000 + ($50,000 X 6%) = $53,000 B. (Two Year Notice) In order to participate, the teacher must submit an irrevocable letter of resignation to the Board of Education by June 30th, two (2) years prior to retirement. The teacher shall then be removed from the salary schedule and receive a six percent (6%) increase over his/her TRS creditable earnings for work done as a District employee for the prior year, for his/her regular teaching duties only, as compensation for the last two (2) years of employment. C. *(Three Year Notice) In order to participate, the teacher must submit an irrevocable letter of resignation to the Board of Education by June 30th, three (3) years prior to retirement. The teacher shall then be removed from the salary schedule and receive a six percent (6%) increase over his/her TRS creditable earnings for work done as a District employee for the prior year as compensation, for his/her regular teaching duties only, for the last three years of employment. $56,180 + ($56,180 X 6%) = $59,551 – year three
Sample 1
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Related to Incentive Program Participation Options

  • Incentive Program Members who are rated as either Level I, Level II or Level III in every phase of the Physical Fitness Test are eligible to participate in the Incentive Program.

  • Incentive Programs During the Term of Employment, the ------------------ Executive shall be entitled to participate in any annual and long-term incentive programs adopted by the Company and which cover employees in positions comparable to that of the Executive.

  • Long-Term Incentive Program During the Term, the Employee shall participate in all long-term incentive plans and programs of the Group that are applicable to its senior executives in accordance with their terms and in a manner consistent with his position with the Company.

  • Incentive Plans During the Term of this Agreement, Executive shall be entitled to participate in all bonus, incentive compensation and performance based compensation plans, and other similar policies, practices, programs and arrangements of the Company, now in effect or as hereafter amended or established, on a basis that is commensurate with his position and no less favorable than those generally applicable or made available to other executives of the Company. The Executive's participation shall be in accordance with the terms and provisions of such plans and programs. Participation shall include, but not be limited to:

  • Incentive Bonus Plan Employee shall be eligible for a bonus opportunity of up to 65% of his annual base salary in accordance with the Company’s Incentive Bonus Plan as modified from time to time, payable in cash and/or equity of the Company (at the Company’s discretion). The bonus payment and the Company’s targeted performance shall be determined and approved by the Board or the compensation committee thereof.

  • Long-Term Incentive Awards The Executive shall participate in any long-term incentive awards offered to senior executives of the Company, as determined by the Compensation Committee.

  • Long-Term Incentive Plans During the Employment Period, the Executive shall be eligible to participate in any long term incentive compensation plan maintained by the Company on the terms established from time to time by the Board or the Compensation Committee of the Board, as applicable.

  • Incentive ‌ Incentives are defined under FAR Subpart 16.4, Incentive Contracts, and other applicable agency-unique regulatory supplements. The OCO will determine fair and reasonable pricing for all Incentive Task Orders and develop a plan to implement and monitor an Award-Fee, Incentive-Fee, or Award-Term result in accordance with FAR 15.4, Pricing.

  • Incentive Awards a) The Executive shall participate in the Company's annual incentive plan for senior-level executives as in effect from time to time, subject to the performance standards set by the Compensation Committee. Payment of any annual incentive award shall be made at the same time that such awards are paid to other senior-level executives of the Company. The Executive's annual incentive award target shall be set by the Compensation Committee. b) The Executive shall be eligible to receive grants under the Company's long-term incentive plans as in effect from time to time; provided, however, that the size, type and other terms and conditions of any such grant to the Executive shall be determined by the Compensation Committee.

  • Long-Term Incentive Award During the Term, Executive shall be eligible to participate in the Company’s long-term incentive plan, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

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