Incentive System Sample Clauses

Incentive System. The Parties agree that, should the Company desire to reintroduce the incentive pay system, the language in the previous collective agreement shall be reinstated. The Parties further agree that the Company reserves the right to establish production output requirements. Any changes to the requirements shall be communicated to the affected employees. When requested by the Union, the Company will provide its justification for any increase in the production requirement, which may be increased due to changes made in the methods, materials, tools, equipment, or where such rate has not been adjusted to reflect prior changes, or where a reasonable production requirement has not been previously established.
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Incentive System. The Union agrees that the Company may introduce an incentive system in the future if it is on a basis mutually acceptable to the Company and the Union.
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Incentive System. (a) The Company and the Union agree to set up a Joint committee composed of members from each of the parties to review the Incentive System; (constitution of the Committee to be determined following ratification of the Agreement); (b) The parties agree that the objective of this Committee is to eliminate partially or wholly, the current Incentive System. (c) This Committee will be constituted within three months of the ratification of the Collective Agreement and its mandate will terminate at the end of the second year of the Collective Agreement, unless there is a mutual agreement in writing to extend the mandate of the Committee. (d) No new jobs will be added to the Incentive System. If a new job is created the Company will establish the hourly rate, and will discuss the reasons for the establishment of such rate with the Union. If the parties cannot reach agreement on the rate set, the Grievance and Arbitration procedure may be used. Any rate change will become effective from the date the grievance was filed. (e) Jobs currently on a fixed rate will be studied first. True incentive jobs will then be studied. (f) The appropriate and required expertise to accomplish the desired result will be provided by both parties.
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Incentive System incentive system, incorporating a curve with a ratio of one for one has been installed. These standards include personal and fatigue allowances of not less than as well as all other allowances provided in the supplement. The effort required to attain FULL incentive is the same although actual production standards may vary. The incentive earnings opportunity level is defined at and the “base” and “add on” rates are no longer applicable.
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Incentive System. The Company does not have any equity incentive, stock option, profit sharing or other similar incentive arrangement that involves the Company and any employee or former employee.
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Incentive System. (a) The Company will establish Incentive Time 28 Spouse, Xxxxxx Children or former Xxxxxx Children who resided with the employee for at least ten (10) years. The one day is to be the day of the funeral. 20:04 Leave of absence without pay may be granted for good and sufficient reasons upon adequate prior application to and approval by the Human Resources Manager, provided a suitable replacement is reasonably available. Normally vacation should be used before leave of absence is requested. The granting of leave of absence shall be at the discretion of the Company having consideration for the Company's obligation to its customers and the exigency of the operations.
Sample 1
Incentive System. Unless otherwise agreed by the Parties, Neither the Target Company nor the Ultimate Target Company has (or proposes to have) any equity incentive system, equity option system or profit sharing system for any of their directors, senior executives or other employees. The incentive mechanism that is disclosed and in place has nothing to do with the Transferee, and the Transferee is not required to be bound by it.
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Incentive System incentive system, incorporating a
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Incentive System. Behaviours of the Contractor’s Employees and/or persons performing work for the Contractor on basis other than an employment contract, and/or the Subcontractor’s Employees and/or persons performing work for the Subcontractor on basis other than an employment contract using the cards, thus reminders in the form of Yellow or Red Cards aim at eliminating improper behaviours of such persons, against OHS regulations and/or principles.
Sample 1

Related to Incentive System

  • Management Incentive Plan “Management Incentive Plan” shall mean the Company’s bonus program, as implemented by the Company’s board of directors from time to time and pursuant to which the Executive may receive incentive-based compensation at fiscal year end.

  • 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 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.

  • 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.

  • Regulation D Compensation Each Bank may require the Company to pay, contemporaneously with each payment of interest on the Euro-Dollar Loans, additional interest on the related Euro-Dollar Loan of such Bank at a rate per annum determined by such Bank up to but not exceeding the excess of (i) (A) the applicable London Interbank Offered Rate divided by (B) one minus the Euro-Dollar Reserve Percentage over (ii) the applicable London Interbank Offered Rate. Any Bank wishing to require payment of such additional interest (x) shall so notify the Company and the Administrative Agent, in which case such additional interest on the Euro-Dollar Loans of such Bank shall be payable to such Bank at the place indicated in such notice with respect to each Interest Period commencing at least three Euro-Dollar Business Days after the giving of such notice and (y) shall notify the Company at least five Euro-Dollar Business Days prior to each date on which interest is payable on the Euro-Dollar Loans of the amount then due it under this Section.

  • Incentive Plan During the Term, the Employee shall be eligible for incentive compensation in accordance with the following incentive plan (the “Incentive Plan”). Shortly after the beginning of each calendar year, the Company’s Board of Directors will establish a target of the Company Net Income (as defined below) for such calendar year (the “Annual Net Income Target”). In no event shall Employee earn any amount under the Incentive Plan for any calendar year during the Term unless the actual Company Net Income for such calendar year equals or exceeds ninety percent (90%) of the Annual Net Income Target for such calendar year. The threshold referred to in the immediately preceding sentence shall hereinafter be referred to as the “Annual Net Income Threshold.” For all purposes of this Employment Agreement, “Company Net Income” shall mean the net income of the Company and its subsidiaries on a consolidated basis, determined in accordance with generally accepted accounting principles consistently applied, as adjusted to exclude (x) any extraordinary non-cash or nonrecurring non-cash charges or losses incurred by the Company and its subsidiaries other than in the ordinary course of business, including but not limited to losses or expenses resulting from redemptions or repayments of indebtedness, or modifications or amendments of the Company’s credit facility, in each case net of related tax benefit, and (y) other appropriate items as determined by the Board of Directors or the Executive Compensation Committee of the Board of Directors (the “Compensation Committee”). The amount payable under the Incentive Plan to Employee for each full calendar year during the Term shall equal the Base Salary actually paid to the Employee for such calendar year multiplied by the sum of the Department Performance Percentage and the Company Performance Percentage (as determined below) for such calendar year. Not later than March 15 of each calendar year, the maximum percentages for each of the Department Performance Percentage (the “Department Maximum Performance Percentage”) and the Company Performance Percentage (the “Company Maximum Performance Percentage”) shall be established by the Compensation Committee for such calendar year within a range of forty percent (40%) and sixty percent (60%); provided that the sum of such percentages shall equal one hundred percent (100%) each calendar year. If the Compensation Committee shall not timely establish either or both of the Department Maximum Performance Percentage or the Company Maximum Performance Percentage for the calendar year 2008, each of such percentages shall be fifty percent (50%). If the Compensation Committee shall not timely establish either or both of the Department Maximum Performance Percentage or the Company Maximum Performance Percentage for any future calendar year during the Term, the respective percentages that were applicable for the prior calendar year shall apply for such calendar year. The sum of the Department Performance Percentage and the Company Performance Percentage for each calendar year shall be referred to herein as the “Incentive Percentage.” For each calendar year the maximum Incentive Percentage shall be one hundred percent (100%).

  • Stock Incentive Plans Nothing in this Agreement shall be construed or applied to preclude or restrain the General Partner from adopting, modifying or terminating stock incentive plans for the benefit of employees, directors or other business associates of the General Partner, the Partnership or any of their Affiliates or from issuing REIT Shares, Capital Shares or New Securities pursuant to any such plans. The General Partner may implement such plans and any actions taken under such plans (such as the grant or exercise of options to acquire REIT Shares, or the issuance of restricted REIT Shares), whether taken with respect to or by an employee or other service provider of the General Partner, the Partnership or its Subsidiaries, in a manner determined by the General Partner, which may be set forth in plan implementation guidelines that the General Partner may establish or amend from time to time. The Partners acknowledge and agree that, in the event that any such plan is adopted, modified or terminated by the General Partner, amendments to this Agreement may become necessary or advisable and that any approval or Consent to any such amendments requested by the General Partner shall be deemed granted by the Limited Partners. The Partnership is expressly authorized to issue Partnership Units (i) in accordance with the terms of any such stock incentive plans, or (ii) in an amount equal to the number of REIT Shares, Capital Shares or New Securities issued pursuant to any such stock incentive plans, without any further act, approval or vote of any Partner or any other Persons.

  • Short-Term Incentive Compensation In addition to the foregoing Base Salary, the Executive shall be eligible during the Term to receive cash short-term incentive compensation, determined and payable in the discretion of the Compensation Committee of the Board. At least annually, the Compensation Committee shall consider awarding short-term incentive compensation to the Executive.

  • 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.

  • Reporting Subawards and Executive Compensation a. Reporting of first-tier subawards.

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