KPI Incentives. In order to improve overall plant and warehouse performance, it is intended to award bonus payments of 1% in each year of this Agreement for the achievement of KPIs as in Appendix A. These Bonus payments will be "one-off" payments paid either in normal payroll or by increased employer funded superannuation by wages sacrifice to a superannuation fund of choice. These payments do not increase the base rate and are to be calculated on the annualised base wage rates applying immediately prior to payment. Bonus payments are to be paid within one pay week after the parties agree on an appropriate incentive after the end of the 6th month, 12th month and 24th month of the agreement (as from 1st January 2008) and will be calculated on a pro-rata basis on the level of achievement of the targets (as compared to the Base/Reference targets). Each bonus payment will be calculated on the overall average performance figures achieved within the 12 months immediately prior to the payment of the bonus and will be weighted as shown in Appendix A. Note that some KPI targets change from one year to the next. In the event that target performance indicators are not achieved, the Joint Consultative Committee will meet to discuss a suitable bonus, which takes into account all factors affecting the progress made towards achieving these targets. If agreement can not be reached between the “Parties”, the matter will be referred to the Australian Industrial Relations Commission. This Clause is to be read in conjunction with Appendix ‘G’ in the case of Waste and Down time indicators. The Joint Consultative Committee will agree to meet to review the KPI targets for each financial year. The basis of the KPIs from the review will be as they are set out in Appendix A (these KPIs are the fallback position). The review is designed to take into consideration changing business objectives, unachievable KPIs and performance in the previous year. The intent of this review is not to diminish targets but to set realistic targets in the event of current objectives not being achievable or changes to the business having an impact on KPI achievement. KPI bonus payments are payable to those employees who have been employed for the full twelve months of the relevant bonus period and who are employed at the time of the bonus payment. New permanent employees who commence employment during a bonus period will be eligible to be paid on a pro-rata time period basis. Any outcome determined by the AIRC must be c...
KPI Incentives. COMPANY shall pay CONTRACTOR the KPI INCENTIVES in accordance with Clause 20 and Appendix 2 to Section III - O&M CONTRACT Prices and Schedules for Variations.
