Performance Compensation a. The Union acknowledges the right of The City University of New York to pay additional compensation for outstanding performance.
Performance Compensation. There will be no performance compensation for the term of this contract, except by board approval, and at the Board’s sole discretion.
Performance Compensation. Employee will be eligible to receive an annual bonus of a minimum of 10% and a maximum of 100% of the then applicable base salary, less applicable withholding taxes, upon achievement of annual performance objectives to be determined in good faith by the Compensation Committee or the Board and the Employee, which objectives for the first year of this Agreement will be established within thirty (30) days of the Effective Date. Objectives for subsequent years will be determined as set forth herein within thirty (30) days of each anniversary of this Agreement. Bonus payments will be paid to the Employee not later than thirty (30) days following achievement of annual performance objectives, but in no event later than thirty (30) days following each anniversary of this Agreement. At the option of the Employee, such bonus payments may be paid in cash or in shares of common stock of the Company at the fair market value on the date the bonus is earned.
Performance Compensation. The maximum amount of your Performance Compensation will depend on the level at which the Performance Goals are satisfied. For fiscal year 2001 ("Performance Period"), this amount will not exceed the lesser of $3,000,000 or 1.75% of pre-tax, pre-incentive earnings. The Committee will evaluate performance under one or more of three specific performance elements: after tax net earnings, return on invested capital percentage, and return on equity relative to return of the comparator peer group. The Performance Compensation and Performance Goals under which the 2000/01 Performance Award will be made are set forth on the attached performance goals spreadsheet If the Performance Goal or Goals are satisfied during the Performance Period, you will be entitled to receive the Performance Compensation provided by this paragraph, subject to the discretionary adjustment provisions of paragraph 3. If the Performance Goal evaluation is not satisfied at the minimum level, you will not be entitled to receive any performance-based compensation. Your Performance Compensation, if any, will be paid to you as soon as administratively feasible following the date the Committee certifies that the Performance Goals for the Performance Period have been satisfied.
Performance Compensation. The City acknowledges that each of the uniformed forces performs an important service that reflects the diverse missions of the City’s uniformed agencies. In order to reward service of an outstanding, exceptional nature, each of the uniformed agencies will establish a performance compensation program to recognize and reward such service, tailored to the unique missions of the individual uniformed agency. The parties agree that additional compensation may be paid to employees performing outstanding, exemplary, difficult and/or unique assignments. The City will notify and discuss with each affected union of its intent to pay such additional compensation and the individuals to be compensated. The criteria for the granting of performance-based compensation shall be based upon outstanding performance in the work assigned, and/or performance of unique and difficult work. The performance-based compensation payments provided for in this section shall be one-time, non-recurring cash payments subject to applicable pension law. An employee can receive no more than one payment annually. This provision shall not affect any existing productivity programs covered in any existing collective bargaining agreements. Nor shall this provision be construed to waive any obligation of the City to negotiate over future productivity programs as required by applicable law.
Performance Compensation. The Union acknowledges the Employer’s right to pay additional compensation for outstanding performance. The Employer agrees to notify the Union of its intent to pay such additional compensation.
Performance Compensation. The Executive will be eligible to receive an annual bonus of a minimum of 50% and a maximum of 100% of the then applicable Base Salary, less applicable withholding taxes, upon achievement of annual performance objectives to be determined in good faith by the Compensation Committee or the Board and the Executive, which objectives for the first year of this Agreement will be established within thirty (30) days of the Effective Date. Objectives for subsequent years will be determined as set forth herein within thirty (30) days of each anniversary of this Agreement. Bonus payments will be paid to the Employee not later than thirty (30) days following achievement of annual performance objectives, but in no event later than thirty (30) days following each anniversary of this Agreement.
Performance Compensation. Employee will be eligible to receive an annual bonus, less applicable withholding taxes, upon achievement of annual performance objectives to be determined by the Board and Employee, which such objectives for the first year of this Agreement will be established within thirty (30) days of the Effective Date. Objectives for subsequent years will be determined as set forth herein within thirty (30) days of each anniversary of this Agreement.
Performance Compensation. (i) For the first two years of the Employment Term after the Merger Closing Date, Employee shall receive bonuses as set forth in Exhibit B hereto (the "Initial Bonus Plan"), and shall not be eligible for any bonus determined in accordance with clause (ii) below.
Performance Compensation. Association Members will receive performance compensation provided they submit and complete their one to three-year goals and report the results of those goals. Association Members must also participate in an annual Collegial Conference as described in Section 15.1. Failure to submit, complete, and report on goals on time or failure to participate in the annual Collegial Conference within the specified time frame will result in no increase in compensation and placement on a PIP.
