Incentive Scheme. 6.2.1.1 The employee will be eligible to participate in the Incentive Scheme for Top Management as approved by the Board from time to time. For the 2005/06 financial year, the basis for the Incentive Scheme will be the Team Award and the Individual Award as approved by the Board. (The Board of Directors is currently reviewing the Team Award. Once a decision is made on the Team Award it will be communicated to you.)
6.2.1.2 The Team Award constitutes 80% and the Individual Award 20% of the overall award. Achievement of 80% or less of the Team Award or Individual Award targets, will result in an overall award of 0%. If the Team Award is achieved but the Individual Award is 80% or less, the overall award is 0% and vice versa.
6.2.1.3 The employee will qualify for the following pro-rata bonus, calculated over the period 1 September 2005 to 31 March 2006, if 100% actual performance is achieved: Guaranteed package R3,698,788 x 70% x 100% = R2,587,752 Pro-rata bonus = (R2,578,752 ÷ 12 x 7) = R1,509,522
6.2.1.4 A bonus pool has been created which is equal to the total of each member of top management’s on target bonus where 100% of EBIT is achieved. The bonus pool is geared to increase by 3% for every 1% addition EBIT and decrease by 10% for every 1% below EBIT. The bonus pool goes to zero if EBIT is 90% or less. The Bonus Pool is capped at 1% of actual EBIT.
6.2.1.5 The Team Award is the same for all members of Top Management, e.g. actual achievement will be the same for all. On the other hand, the Individual Award is different for all and will depend on the performance of each individual. For every 1% actual performance above 100%, an additional 1% is added, e.g. if actual performance is 105%, the Individual Award is calculated at 110%. Similarly, for every 1% below 100%, the percentage bonus will decrease by a further 1%, e.g. if actual performance is 95%, the Individual Award is calculated at 90%. Where one or more individuals do not qualify for an Individual Award (performance below 80%), their portion of the bonus pool is divided between the other members of top management.
Incentive Scheme. Sony Pictures Networks India Private Limited, having its registered office at 4th Floor, Interface Building Xx. 0, Xxx Xxxx Xxxx, Xxxxx Xxxx, Xxxxxx - 000000 (“Broadcaster”), through its authorized agent, Sony Pictures Networks Distribution India Private Limited (formerly known as MSM Media Distribution Private Limited), a company incorporated under the laws of India having its office at 4th Floor, Interface Building Xx. 0, Xxx Xxxx Xxxx, Xxxxx Xxxx, Xxxxxx - 000000 (“SPN Distribution”), is offering certain incentive schemes for the digital addressable distribution platform operators, subject to the terms and conditions specified hereunder (“Scheme”).
Incentive Scheme. Permanent employees have the opportunity of receiving incentive payments subject to the achievement of the targets contained in Appendix C.
Incentive Scheme. At the discretion of the employer, an incentive scheme may be introduced during the life of the project where mutually beneficial outcomes to the employer and employees can be achieved.
Incentive Scheme. (1) For the period of this agreement an incentive scheme will be implemented which will require targets to be achieved in the areas of spoilage in the press room and customer credits in the pre- press area.
(2) The target figure is in accordance with the budgeted figure for spoilage in each financial year. For the year 2006 – 2007 the target is 9%.
(3) Future year’s targets will be advised prior to July each year.
(4) Any monies saved in these incentive initiatives will be divided equally between the company and production employees.
(5) Monies so gained from the incentive scheme will be paid at quarterly intervals in the form of a one-off bonus.
(6) Casual employees who are employed for at least 75% of the hours in each three month period will be a part of the incentive scheme.
(7) Measurements of targets/criteria will commence from 1 July 2006.
Incentive Scheme. There is not any share incentive scheme, share option scheme or profit sharing, bonus, commission or other such incentive scheme for all or any of the employees.
Incentive Scheme. Employees will be eligible to participate in the employer’s incentive scheme for portable service technicians. The employer may begin, change or end the incentive scheme at any time following consultation.
Incentive Scheme. 5.1 The Employee will participate in the Employer’s Incentive scheme according to the terms set forth in the scheme as applicable from time to time. In each financial year of the Employer, the Employee shall, when he has realized his target, receive a bonus that shall not exceed 50% of the annual salary excluding holiday allowance specified in Article 4.1
5.2 The target will be set by the Employer and can be changed each year.
5.3 If the Employee has not actually worked during the full financial year, his bonus entitlement shall be pro rata to the portion of the financial year during which the Employee has actually worked. For the purposes of this Article “actual work” shall be deemed to include periods of holiday leave and periods of incapacity to work on account of illness or disablement, in so far as any such period does not exceed 6 months.
Incentive Scheme. If Party B successfully achieves the sales target by 100%, Party A will pay Party B RMB One Yuan per piece as bonus for the over-fulfilled sales part. These prizes can be used as the payment for the product or in the form of return of profit.
Incentive Scheme. The clause below sets out the incentive payment scheme operating within the Bendigo Facility. The Union and the Company will review the incentive scheme with the involvement of the union delegates and other Consultative Committee representatives within 12 months of the commencement of this Agreement, with a view to reaching agreement regarding its operation and any required changes. The incentive payment for ‘downtime’ and ‘rejects’ is as specified in the following tables: Downtime Level Payment Reject Level Payment 0.00% $8 0.001% $8 0.01% $7 0.002% $7 0.02% $6 0.003% $6 0.03% $5 0.004% $5 0.04% $4 0.005% $4 0.05% $3 0.006% $3 0.06% $2 0.007% $2 0.07% $1 0.008% $1 0.08% $0 0.009% $0 • The following efficiency incentive payment will apply: Efficiency Level Payment 96% $5.00 97% $10.00 98% $15.00 99% $20.00 100% $25.00 101% $30.00 102% $35.00 103% $40.00 104% $45.00 105% $50.00 106% $55.00 107% $60.00 • The average incentive payment made over the six-month preceding the date on which annual leave is taken will be paid during annual leave,
20.1 Process for Disputed Minute Rates • Within 2 weeks of the commencement of the Agreement (or as soon as reasonably practicable), the Union and the Company will meet to agree on a process to retime disputed minutes. • The review of all disputed timings is to be completed within 3 months of the commencement of the Agreement. • The Company will provide monthly updates and details of each timed garment to Union delegates and employees, as completed. Allowance for rest breaks are to be transparently included within the timing of a garment. The Company will post on noticeboards all new and altered minute rates of garments, with allowances for rest breaks highlighted. Details of the Factory Daily and Weekly Results will be displayed on the production boards.
