Merit Lump Sum Bonus Sample Clauses

Merit Lump Sum Bonus. The University will provide a pool of funds to each department for a payment of Two-Thousand Dollars ($2,000), which will be distributed on the date described in Section 23.1E as a one-time lump-sum performance based bonus payment to each eligible employee as defined in Section 23.1A2 and 23.1D2. Such bonus payment shall not be added to the base.

Merit Lump Sum Bonus. 1. The University will provide a pool of funds to each department for a payment of Two-Thousand Dollars ($2,000), which will be distributed on the date described in Section 23.1E as a one-time lump- sum performance based bonus payment to each eligible employee as defined in Section 23.1A2 and 23.1D2. Such bonus payment shall not be added to the base. 2. Eligible employees in Section 23.1A1 are those employees who meet the following criteria: a) Are continuously employed as ranked faculty, non-ranked faculty, and in-unit administration employees prior to August 7, 2021 and through the date the bonus is paid; and b) Have received a satisfactory and above (a minimum score on the most recent annual evaluation of at least 3.0 on a 5.0 point numerical rating scale). New hires with no evaluation are excluded from this pool as are employees with no evaluation on file within two academic years of full ratification. This pool shall be distributed at the department level. c) Do not have any active performance improvement plans on records; d) Are actively employed on the date the bonus is paid, and e) Do not fall within Section 23.1D2.