Performance Bonus Payments Sample Clauses

Performance Bonus Payments. 5.8.1 An individual performance bonus payment is available to employees based on the following criteria: (a) All performance indicators shall be based on individual results and participation in the system shall be voluntary. (b) The Bonus Payment Period will be considered as three (3) calendar months. (c) The Performance Bonus payment shall equate to either 3%, 5% or 7%, depending on the employee’s performance results and will apply to ordinary time hours only. (d) An individual must achieve all Performance Indicators, in order to be eligible to receive the bonus payment. 5.8.2 The percentage payments will be calculated and paid in arrears and will apply to ordinary time hours only, worked during the period for which the performance figures apply and will be inclusive of all superannuation and other taxation that applies to bonus payments.
Sample 1
AutoNDA by SimpleDocs
Performance Bonus Payments. Within thirty (30) days after University’s intercollegiate athletics team achieves any performance goal identified below, Licensee will pay University the specified cash performance bonus amount. Licensee will pay the cash performance bonus amount to University each time a University intercollegiate athletics team achieves on of the performance goals.
Sample 1
Performance Bonus Payments. Employee shall be eligible to participate in the Company's bonus program. Commencing with the Fourth Quarter of Calendar Year 2000, Employee's target bonus will be 105%.
Sample 1
Performance Bonus Payments. (1) The Performance Bonus provided for in this Subsec- tion recognizes the principle that a continuing im- provement in the standard of living of employees depends upon technological progress, better tools, methods processes and equipment, and a coopera- tive attitude on the part of all parties in such progress. It further recognizes the principle that to produce more with the same amount of human effort is a sound economic and social objective.
Sample 1
Performance Bonus Payments. A performance bonus payment will be paid to employees covered by this Agreement of up to 1.5% (before tax) on the first full pay period in July 2012 of this Agreement, subject to the achievement of the targets set out below. This bonus will become part of the base salary. Zero (0) Notification of Occurrences as per the Occupational Health, Safety and Welfare Regulations (SA), 1995. (50% value of Bonus). In the event that One (1) Notification of Occurrences as per the Occupational Health, Safety and Welfare Regulations (SA), 1995 is received, the value will reduce to 25%.
Sample 1
Performance Bonus Payments. Subject to Section 3.4, the Company shall pay the Employee a performance bonus in the amount of $195,000 in twelve (12) equal monthly installments as bonus pay (“Performance Bonus Pay”). The unpaid portion of the bonus payment due will accrue simple interest at the rate of 18%. The monthly payments shall be payable starting in March 2007 and will continue until the Performance Bonus Pay is made in full (“Performance Bonus Payment Term”). The Performance Bonus stands alone, and is in no way tied to any future Salvage Bonus that the Board of Directors may award to honor the accomplishments of the salvage team.
Sample 1
Performance Bonus Payments. Sign On Bonus: Target Performance Bonus(s):
Sample 1
AutoNDA by SimpleDocs
Performance Bonus Payments. Payments shall be based on the Final Evaluation in subsection B and shall be payable by August 31. a. Overall Rating of Needs Improvement shall result in no Performance Bonus payment, in addition to any other sanctions authorized in this agreement. b. Overall Rating of Meets Expectation shall result in a Performance Bonus payment equal to 3 % of the employee’s annual base pay. c. Overall Rating of Exceeds Expectation shall result in a Performance Bonus payment equal to 3.5 % of the employee’s base pay. d. Overall Rating of Exceptional shall result in a Performance Bonus payment equal to 4.5% of the employee’s base pay. e. Base pay shall be calculated by multiplying the employee’s hourly wage, as of July 1, by the number of regular hours schedule to work (2184 hours for uniformed officers; 2184 hours for dispatchers; 2132 hours for investigators) and then multiplying by the appropriate bonus payment in (a) through (d) of this subsection C.
Sample 1

Related to Performance Bonus Payments

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

  • Performance Bonus The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

  • Bonus Payments No employee shall be required or requested to make any written or verbal agreement that will conflict with the terms of this Agreement. All employees must be paid weekly for all hours worked as provided in this Agreement. Any bonuses, commissions or other methods of payments over and above the requirements of this Agreement shall be in addition to the requirements of this Agreement and may not be used to offset such contractual requirements and shall not be subject to negotiations.

  • Bonus Payment Executive will receive a lump-sum payment equal to one hundred fifty percent (150%) of the higher of (A) the greater of (x) Executive’s target bonus for the fiscal year in which the Change of Control occurs (as in effect immediately prior to the Change of Control) or (y) Executive’s target bonus as in effect for the fiscal year in which Executive’s termination of employment occurs, or (B) Executive’s actual bonus for performance during the calendar year prior to the calendar year during which the termination of employment occurs. For avoidance of doubt, the amount paid to Executive pursuant to this Section 3(b)(iii) will not be prorated based on the actual amount of time Executive is employed by the Company during the fiscal year (or the relevant performance period if something different than a fiscal year) during which the termination occurs.

  • Annual Performance Bonus During the Employment Term, the Executive shall be entitled to participate in the STIP, with such opportunities as may be determined by the Chief Executive Officer in his sole discretion (“Target Bonuses”), and as may be increased (but not decreased, except for across-the-board reductions generally applicable to the Company’s senior executives) from time to time, and the Executive shall be entitled to receive full payment of any award under the STIP, determined pursuant to the STIP (a “Bonus Award”).

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

  • Cash Bonus Executive shall be entitled to a fraction of any Cash Bonus for the fiscal year of the Company within which Executive’s termination of employment occurs which, based upon the criteria established for such Cash Bonus, would have been payable to Executive had he remained employed through the date of payment, the numerator of which is the number of days of such fiscal year prior to his termination of employment and the denominator of which is three hundred and sixty-five (365); and

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • 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.

  • Incentive Bonuses After the Company attains profitability, the Employee shall be eligible to be considered for an annual incentive bonus. Such bonus (if any) shall be awarded based on objective or subjective criteria established in advance by the Board or its Compensation Committee. The determinations of the Board or its Compensation Committee with respect to such bonus shall be final and binding. Except as expressly provided in this Agreement, the Employee shall not be entitled to an incentive bonus if he is not employed by the Company on the date when such bonus is payable.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!