Linear Sharing Rule Sample Clauses

Linear Sharing Rule. ‌ As a general assumption throughout Rayo [2007]’s model, linear sharing is the most commonly seen sharing in real life because of its simplicity. However, whether linear sharing can be optimal is not clear. The restriction makes our search for optimality much easier but the comfort might be on the cost of efficiency. Thus in this section we would try to disclose whether anything is lost by assuming linearity in the sharing rule. From now on we would assume linear sharing and search for the optimal linear sharing to see if there is any efficiency loss by putting linearity restriction on the sharing rule. For each i, we assume si(F) = αiF + βi and Σ αi = 1, Σ βi = 0. In general sharing, we need to specify shares for each agent and each output level. However for each individual we only need to solve two parameters. With linear sharing constraint 4.7 would be affected by both parameter α and β, the utility among agents are no-longer transferable. Any constant transfers of output will affect individual IC constraints. Thus, the maximization of total team surplus can only support certain distribution outcomes under linear sharing. In this sense if we restrict to linear sharing rules, maximizing team surplus is merely a typ- ical case with a specific social welfare function. While there might exist other outcomes that some specific agents might prefer while don’t maximize the team surplus. Which social welfare function the team would choose depends on the organization structure, it might be principal-agent structure where there is one agent who dominates and put his own welfare as the priority, or it could be a Xxxx bargaining process. We raise this issue here to make critical argument about the surplus maximization in Rayo [2007]. When individuals’ surpluses enter their IC constraints endogenously, utilities are no longer transferable. Which specific target effort will be preferable depends on the social welfare function of the team, thus we will leave the efficiency issue to the future study and focus on solving the optimal contract first. Due to the budget balancing constraint, it’s impossible to increase every agent’s share to 1. The problem is then how to derive an optimal sharing rule to create the maximum surplus possible. We start by simplifying our IC constraints
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Linear Sharing Rule. ‌ Here we would restrict our attention to a special kind of sharing rule which is most commonly seem in real life - linear sharing rule. 3.1. A sharing rule S : R → Rn, where n = 2, 3, . . . is said to be linear if: 1. For any Y ∈ R, the share to each team member i has the following struc- ture: si(Y ) = αiY + βi, where αi and βi are constants or functions that are independent of Y , where the share is non-negative: αi ≥ 0. 2. The budget is balanced such that Σ αi = 1 and Σ βi = 0. The definition says, a linear sharing rule contains two parts, for each team member i it specifies a portion αi of the output which must sum up to 1 and a constant income/payment βi which must sum up to 0. The simple structure of linear sharing rules makes them easily enforced by courts. Moreover, by using a linear sharing rule the team members are pretty sure that the shares they get si(Y ) is monotone increasing with the output Y , since Sij(Y ) = αi ≥ 0. However, the incentive provided by linear sharing rule is not strong enough to produce the first best outcome ( Xxxxxxxxx [1982]). This is due to the fact that any agent’s xxxxx will save his/her effort cost fully while the negative impact on the output will be shared with others. If we stick to balancing the budget, the punishment from a linear sharing rule can never be strong enough to achieve an efficient outcome. In the static model in Xxxxxxxxx [1982], the action vector of the team aˆ constitutes a Xxxx equilibrium if and only if for each i, aˆi solves xxx xx(f (ai, aˆ−i)) − ci(ai), subject to for each i, individual rationality is satisfied that is πi ≥ π¯i.

Related to Linear Sharing Rule

  • Profit Sharing Plan Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the Executive tier under the Plan’s Responsibility Factors. If Employer is required to prepare an accounting restatement due to “material noncompliance of the Employer,” the Employer will recover from the Executive any incentive compensation during the three (3) years prior to the date of the restatement, in excess of what would have been paid under the restatement. Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer due to such restatement(s).

  • Profit Sharing Profit sharing, bonuses, or other similar compensation of any kind paid by CM/GC to its employees.

  • Job Sharing / Time Sharing (a) Job sharing shall be interpreted to mean two employees sharing one full- time position (10 shifts bi-weekly). (b) Time sharing shall be interpreted to mean two employees sharing one full line (14 shifts bi-weekly). Clarifying Note: One full-time and a regular part-time “shadow” does not constitute a time sharing arrangement. (c) The introduction of job/time sharing arrangements in a Home will be subject to mutual agreement between the Union and the Employer. Job/time sharing requests shall be considered on an individual basis. Such approval will not be unreasonably withheld. (d) The employees involved in job share/ time sharing are entitled to all the regular part-time provisions except those which are modified as follows: i) Schedules and scheduling language shall be established by the mutual agreement of the Union and the Home. This will include the division of hours between the job/time sharers. ii) Each job/time sharer may exchange shifts with her or his partner as well as other employees as provided by the Collective Agreement. Employees who are currently in a job/time sharing arrangement and are full-time will retain that status and be covered by the full-time provisions of the collective agreement. For clarity, this grandparents employees in time sharing arrangements, not positions. When individuals leave these positions, the vacant position will be posted under (f) and (g) below.

  • Nonqualified Distributions If you do not meet the requirements for a qualified distribution, any earnings you withdraw from your Xxxx XXX will be included in your gross income and, if you are under age 59½, may be subject to an early distribution penalty tax. However, when you take a distribution, the amounts you contributed annually to any Xxxx XXX and any military death gratuity or Servicemembers’ Group Life Insurance (SGLI) payments that you rolled over to a Xxxx XXX, will be deemed to be removed first, followed by conversion and employer-sponsored retirement plan rollover contributions made to any Xxxx XXX on a first-in, first-out basis. Therefore, your nonqualified distributions will not be taxable to you until your withdrawals exceed the amount of your annual contributions, military death gratuity or SGLI payments and your conversions and employer-sponsored retirement plan rollovers.

  • Elective Deferrals (a) The Committee may establish procedures pursuant to which Employee may elect to defer, until a time or times later than the vesting of a Performance Share Unit, receipt of all or a portion of the shares of Common Stock deliverable in respect of a Performance Share Unit, all on such terms and conditions as the Committee (or its designee) shall determine in its sole discretion. If any such deferrals are permitted for Employee, then notwithstanding any provision of this Agreement or the Plan to the contrary, an Employee who elects such deferral shall not have any rights as a stockholder with respect to any such deferred shares of Common Stock unless and until the date the deferral expires and certificates representing such shares are required to be delivered to Employee. The foregoing notwithstanding, no deferrals of Dividend Equivalents related to any Performance Share Units under this Award will be permitted. Moreover, the Committee further retains the authority and discretion to modify and/or terminate existing deferral elections, procedures and distribution options. (b) Notwithstanding any provision to the contrary in this Agreement, if deferral of Performance Share Units is permitted, each provision of this Agreement shall be interpreted to permit the deferral of compensation only as allowed in compliance with the requirements of Section 409A of the Internal Revenue Code and any provision that would conflict with such requirements shall not be valid or enforceable. Employee acknowledges, without limitation, and consents that application of Section 409A of the Internal Revenue Code to this Agreement may require additional delay of payments otherwise payable under this Agreement. Employee and the Company further hereby agree to execute such further instruments and take such further action as reasonably may be necessary to comply with Section 409A of the Internal Revenue Code.

  • Rollover Contributions A rollover is a tax-free distribution of cash or other assets from one retirement program to another. There are two kinds of rollover contributions to an IRA. Xx one, you contribute amounts distributed to you from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. However, you may not deduct a rollover contribution to your IRA xx your tax return. If you receive a distribution from the qualified plan of your employer or former employer, the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part of the distribution over to your IRA. Xxe portion you contribute to your IRA xxxl not be taxable to you until you withdraw it from the IRA. Xxur employer or former employer will give you the opportunity to roll over the distribution directly from the plan to the IRA. Xx you elect, instead, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in your IRA xxx been contributed in a tax-free rollover from your employer's or former employer's qualified plan or 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxets.

  • Highly Compensated Employee The term Highly Compensated Employee includes highly compensated active employees and highly compensated former employees.

  • Retirement Contributions On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including Chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.

  • Retirement Contribution 1. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay its cost of the 6.5% or 7.5% retirement contribution for employees in the bargaining unit who are covered under special Law Enforcement retirement plans. 2. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay the cost of the 6.5% or 7.5% retirement contribution for employees in the following classifications.

  • JOB SHARING North Bay; Perth-Huron; Peterborough, Victoria & Haliburton; Sarnia- Lambton Taking into consideration the fact that the Employer wishes to retain well- qualified staff who are unable or prefer not to provide a full-time commitment and the job-sharing can enable this to happen, the parties agree to the following provisions: (a) Job-sharing requests with regard to full-time positions shall be considered on an individual basis, and the Employer shall reserve the right to determine the appropriateness of such arrangements, including the number of job-shared positions after discussions with the Union at the Labour Management Committee. (b) Any incumbent full-time Nurse wishing to share their position may do so without having their half (½) of the position posted. The other half (½) of the job-sharing position will be posted, and selection will be in accordance with the Collective Agreement. (c) Save and except as provided for herein, all job-sharers shall be treated as part-time employees and shall receive percentage in lieu of benefits. (d) If one (1) of the job-sharers leaves the arrangement, their position will be posted. If there is no successful applicant to the position, the shared position must revert to a full-time position. The remaining Nurse will have the option of continuing the full-time position or reverting to a part-time position for which they are qualified. If they do not continue full-time, the position must be posted in accordance with the Collective Agreement. (e) Posted schedules for the job-sharers shall be based on the schedules that would apply to a full-time Nurse holding that position. Such schedule shall conform to the scheduling provisions for full- time. (f) Total hours worked by the two job-sharers shall be equal to one full- time position. The division of these hours over the schedule shall be determined by mutual agreement between the two Nurses and the immediate Supervisor. This does not exclude the Nurses from opportunities for extra available work. (g) Each job-sharer may exchange shifts with their partner, as well as with other Nurses in accordance with the Collective Agreement, provided such exchange creates no additional labour cost to the Employer and meets continuity requirements. (h) It is expected that both job-sharers will cover each other’s absences including incidental illnesses and vacation. If, because of unavoidable circumstances, one cannot cover the other, the Supervisor must be notified to book coverage. Job-sharers are not required to cover for their partners in the case or prolonged or extended absences but may be offered the opportunity to do so. (i) Job-sharers will not be required to work in total more paid holidays than would one full-time Nurse, unless mutually agreed otherwise. Job-sharers will have the right to determine which partner works the scheduled holidays. (j) Either party may discontinue the arrangement with one month’s written notice and the employees shall revert to their former status without posting if such positions are still available. 14.14 Christmas/New Year’s Xxxxxxxxxxxx, Xxxxxxxx & Haliburton

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