Instant Bonus Program Sample Clauses

Instant Bonus Program. All employees in the Maintenance Worker, Fleet Technician I, and Custodial Worker classifications shall be eligible for an “instant bonus” in accordance with the following terms and conditions: A. Each Department may give bonuses to reward an individual employee or a team of employees for an exceptional effort in implementing and completing a project or program that: 1. Significantly enhances the efficiency or effectiveness of City operations, or; 2. Significantly exceeds expectations in the areas of performance or customer service, or; 3. Demonstrates innovation or creativity in government. B. If a bonus is awarded, it shall be awarded immediately, not at the end of the year. C. An individual employee may be eligible for one instant bonus in any calendar year. The maximum bonus amount shall not exceed $1,000.00, however, the typical bonus will be in the area of $250.00 D. Bonuses may be awarded upon written request of the employee’s supervisor, division director or department director, detailing the employee’s achievement and recommending a bonus amount. The bonus shall not be awarded unless approved by the department director and the City Manager. All decisions regarding the award of bonuses shall ultimately be at the discretion of the City Manager. E. In the event the division director and department director believe that time off with pay would be a more effective reward for excellence under this program, and the time off will not negatively affect the operation of the division, the employee may be awarded up to eight (8) hours of paid leave in lieu of a monetary bonus. The monetary value of the time off shall be deducted from the remaining balance of bonus funds available to the department. F. The division director should not inform the employee of the bonus until it is approved by the department director and City Manager. G. To be eligible for a bonus, the employee must demonstrate a clearly exceptional level of effort and achieve an outcome that is superior. H. Once a department’s bonus funds are expended in a calendar year, there will be no additional funds available to that department until the next calendar year.
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Instant Bonus Program. Eligibility to participate in this program and the receipt of any bonus awarded through this program shall be governed by the terms and conditions specified within Ordinance No. 38-04. Any City Manager or Council approved modifications to this program will also be applied to FOP/OLC members and non-bargaining unit employees alike.
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Instant Bonus Program. All members in the rank of Police Officer, Corporal, conditions: A. The Police Department may give bonuses to reward an individual member or a team of members for an exceptional effort in implementing and completing a project or program that: 1. Significantly enhances the efficiency or effectiveness of City operations; or, 2. Significantly exceeds expectations in the areas of performance or customer service; or, 3. Demonstrates innovation or creativity in government. B. If a bonus is awarded, it shall be awarded immediately, not at the end of the year. C. An individual member may be eligible for one instant bonus in any calendar year. The maximum bonus amount shall not exceed $1,000.00, however, the typical bonus will be in the area of $250.00 D. shall not be awarded unless approved by the Chief of Police and the City Manager. All decisions regarding the award of bonuses shall ultimately be at the discretion of the City Manager. E. In the event the supervisor and Chief of Police believe that time off with pay would be a more effective reward for excellence under this program, and the time off will not negatively affect the operation of the Department, the member may be awarded up to eight (8) hours of paid leave in lieu of a monetary bonus. The monetary value of the time off shall be deducted from the remaining balance of bonus funds available to the Department. F. The supervisor will not inform the member of the bonus until it is approved by the Chief of Police and City Manager. G. To be eligible for a bonus, the member must demonstrate a clearly exceptional level of effort and achieve an outcome that is superior. H. additional funds available to the Department until the next calendar year.
Sample 1

Related to Instant Bonus Program

  • Bonus Program You will be eligible for an annual target bonus of 35% of your annual base salary as determined by the Board in its sole discretion based upon, among other things, the achievement of pre-determined performance milestones. Any annual bonus, if earned, shall be paid no later than March 15th of the year immediately following the year to which the applicable annual bonus relates.

  • Bonus Programs Employee may participate in any incentive program which may be made available from time to time to Corporation’s employees at Employee’s level; provided, however, that Employee’s participation is subject to the applicable terms, conditions and eligibility requirements of the program, as they may exist from time to time.

  • 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.

  • Annual Incentive Awards The Executive shall participate in the Company's annual incentive compensation plan with a target annual incentive award opportunity of no less than 40% of Base Salary and a maximum annual incentive award opportunity of 80% of Base Salary. Payment of annual incentive awards shall be made at the same time that other senior-level executives receive their incentive awards.

  • Performance Bonus The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

  • Annual Incentive Bonus The Company shall, in addition to Executive’s Base Salary, pay Executive an Annual Incentive Bonus, which shall be payable within 120 days of the end of each fiscal year in accordance with the formula set forth on Exhibit A, attached hereto and made a part hereof.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

  • Bonus Plan Such bonus, if any, as shall be determined upon the recommendation of the CEO by the Board (or any designated Committee of the Board comprised solely of independent directors), shall be paid in accordance with the terms and conditions of the bonus plan established for the Company (“Bonus Plan”).

  • Cash Incentive Bonus The pro rata share of any Cash Incentive Bonus that would have been paid to the Executive had the Executive not been terminated Without Cause based on the extent to which performance standards are met on the last day of the year in which the Executive is terminated Without Cause.

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

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