Mid-Year Bonus Sample Clauses
The Mid-Year Bonus clause establishes the terms under which an employee is eligible to receive a bonus payment partway through the year. Typically, this clause outlines the criteria for qualification, such as performance metrics, company profitability, or continued employment as of a certain date. By clearly defining the conditions and timing for bonus distribution, the clause incentivizes employee performance and retention while providing transparency regarding additional compensation.
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Mid-Year Bonus. Employee additionally is entitled to a mid-year bonus ("Mid-Year Bonus") upon the Company's attainment of its June 30, 2000 financial goals as established by the Company in its sole discretion in the event that such a bonus is generally established for other employees of the Company. Employee's Mid-Year Bonus will be according to the same percentage of compensation calculation that applies to other employees of the Company.
Mid-Year Bonus. Full-time Active School Bus/Van Drivers and Driver Assistants who have completed one (1) continuous year of active full-time service shall be eligible to receive a winter recess (mid-year bonus) on the February after their anniversary date of hire . To qualify for this bonus, the individual must work a minimum of sixteen full weeks in the current school year prior to the February break, and must report to work the day before and the day after this break in order to receive this bonus . Absences due to bereavement or official Union business shall not result in the loss of the mid-year bonus . Additionally, absences due to Jury Duty shall not result in the loss of the mid- year bonus, provided that an employee called for jury duty makes a good faith effort to seek postponement of Jury Duty, but is unsuccessful . Bonuses to be paid two (2) weeks after the winter break . The employee must be in a guaranteed department to be eligible for the bonus .
Mid-Year Bonus. Full-time school bus/van drivers and driver assistants who have completed one (1) consecutive year of active full-time serviceshall be eligible to receive a winter recess (mid-year bonus) on the February after their anniversary date of hire. To qualify for this bonus, the individual must work a minimum of sixteen full weeks in the current school year prior to the February break, and must report to work the day before and the day after this break in order to receive this bonus. Absences due to bereavement or official Union business shall not result in the loss of the mid-year bonus. Additionally, absences due to Jury Duty shall not result in the loss of the mid-year bonus, provided that an employee called for jury duty makes a good faith effort to seek postponement of Jury Duty, but is unsuccessful. Bonuses to be paid the week after the winter break. The employee must be in a guaranteed department to be eligible for the bonus. The mid-year bonus shall be paid in accordance with the following schedule: Years of Service February 2011 2012 2014 Van/Bus 2-3 N/A $150 $200 4-5 N/A $250 $300 6-7 N/A $350 $400 8+ $400 $450 $500 2-3 N/A $125 $175 4-5 N/A $200 $250 Assistants 6-7 N/A $275 $325 8+ $300 $350 $400