Performance -Based Bonus Systems Sample Clauses

Performance -Based Bonus Systems. (Flexible Wage Packaging) No employee will be paid an ordinary rate of pay that is less than the ordinary rate they were paid prior to the certification of the agreement. The Company recognises the work performance of individual employees. It also recognises the commitment of individual employees to increase their skill level and improve the work practices and procedures. To this extent individual employee’s skills, performance and duties may be assessed from time to time by the Company against the Company’s performance criteria standards and the duties relevant to the classification structure contained in clause 3.1 classifications of this agreement. An additional supplementary rate may be determined based on the individual assessment and added to the minimum base rate contained in SCHEDULE “A” of this agreement for the said employee. Whenever the company considers an additional supplementary rate is appropriate they shall notify the Consultative Committee in advance of it being applied.
Sample 1
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Performance -Based Bonus Systems. Employees agree that increases in productivity are fundamental to increases in remuneration, and are committed to aim for an improvement in productivity over the life of the agreement. The Company also recognises the work performance of individual employees and the commitment of individual employees to increase productivity and their skill levels. To this extent an individual employee’s skills, and work performance may be assessed every six (6) months by the Company against predetermined criteria. Such criteria shall include but are not limited to: • Overall work performance • Communication • Level of skill obtained • Adaptability • Initiative An additional bonus rate may be determined based on the individual assessment and added to the minimum base rate contained in SCHEDULE “A” of this agreement for the said employee. Bonus payment may be withdrawn at the discretion of the Company. When considering the withdrawal of the bonus the Company will take into consideration the continued performance of an employee and the financial constraints of the Company.
Sample 1

Related to Performance -Based Bonus Systems

  • Performance Pay In accordance with Section 8 of the General Appropriations Act for Fiscal Year 2020-2021, contingent upon the availability of funds and at the Agency Head’s discretion, each agency is authorized to grant merit pay increases based on the employee’s exemplary performance, as evidenced by a performance evaluation conducted pursuant to Rule 60L-35, Florida Administrative Code.

  • PERFORMANCE OBJECTIVES 4.1 The Performance Plan (Annexure A) sets out-

  • Performance Incentive 4.9.1 If the Seller delivers Coal to the Purchaser in excess of ninety percent (90%) of the ACQ in a particular Year, the Purchaser shall pay the Seller an incentive (“Performance Incentive”/ “PI”), to be determined as follows: PI = P x Additional Deliveries x Multiplier Where: PI = The Performance Incentive payable by the Purchaser to the Seller P = The Base Price of Highest Grade, as shown in Schedule II Additional Deliveries = Quantity [in tonnes] of Coal delivered by the Seller in the relevant Year in excess of 90% of the ACQ. Multiplier shall be 0.15 for Additional Deliveries between 90%-95% of ACQ and 0.30 for Additional Deliveries in excess of 95% of ACQ.

  • Performance Targets Threshold, target and maximum performance levels for each performance measure of the performance period are contained in Appendix B.

  • Performance Measurement Satisfactory performance of this Contract will be measured by:

  • Performance Incentives Provided that sufficient funds are available from athletics revenue or gifts for the unrestricted use of the Department of Athletics, Athletics Director shall be entitled to receive additional non-salary compensation from the University in the form of the following stated bonuses for increased responsibilities, provided that all varsity sports are in compliance with all Governing Athletics Rules and University Rules, and there are no pending or active NCAA or __________ Conference investigations or major violations of which Athletics Director knew or should have known. [Insert Incentives – See examples below

  • Performance Metrics In the event Grantee fails to timely achieve the following performance metrics (the “Performance Metrics”), then in accordance with Section 8.4 below Grantee shall upon written demand by Triumph repay to Triumph all portions of Grant theretofore funded to and received by Grantee:

  • Performance Goals A. The Trust and State Street have developed mutually acceptable performance goals dated March 1, 2011 , and as may be amended from time to time, regarding the manner in which they expect to deliver and receive the services under this Agreement (hereinafter referred to as “Service Level Agreement”). The parties agree that such Service Level Agreement reflects performance goals and any failure to perform in accordance with the provisions thereof shall not be considered a breach of contract that gives rise to contractual or other remedies. It is the intention of the parties that the sole remedy for failure to perform in accordance with the provisions of the Service Level Agreement, or any dispute relating to performance goals set forth in the Service Level Agreement, will be a meeting of the parties to resolve the failure pursuant to the consultation procedure described in Sections V. B. and V.C. below. Notwithstanding the foregoing, the parties hereby acknowledge that any party’s failure (or lack thereof) to meet the provisions of the Service Level Agreement, while not in and of itself a breach of contract giving rise to contractual or other remedies, may factor into the Trust’s reasonably determined belief regarding the standard of care exercised by State Street hereunder.

  • PERFORMANCE MEASUREMENTS Upon a particular Commission’s issuance of an Order pertaining to Performance Measurements in a proceeding expressly applicable to all CLECs generally, BellSouth shall implement in that state such Performance Measurements as of the date specified by the Commission. Performance Measurements that have been Ordered in a particular state can currently be accessed via the internet at xxxx://xxxx.xxxxxxxxx.xxx. The following Service Quality Measurements (SQM) plan as it presently exists and as it may be modified in the future, is being included as the performance measurements currently in place for the state of Tennessee. At such time that the TRA issues a subsequent Order pertaining to Performance Measurements, such Performance Measurements shall supersede the SQM contained in the Agreement. BellSouth Service Quality Measurement Plan‌ (SQM) Tennessee Performance Metrics Measurement Descriptions Version 2.00 Issue Date: July 1, 2003 Introduction

  • Performance Schedule The Parties will perform their respective responsibilities in accordance with the Performance Schedule. By executing this Agreement, Customer authorizes Motorola to proceed with contract performance.

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