Performance Incentive Pay Sample Clauses

Performance Incentive Pay. A. The performance incentive pay determined in accordance with Section 1 above shall be equal to one point-two five percent (1.25%) of the employee's base pay. B. The performance incentive pay shall be issued to those employees’ earning the pay and is to be included with the first paycheck in December with the appropriate number of deductions for the employee.
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Performance Incentive Pay. The Superintendent of Schools shall qualify to receive Performance Incentive Pay if he receives an overall evaluation rating of Effective or Highly Effective for each of the two evaluation periods. The Performance Incentive Pay will be based on the following weighted factors: (A) Evaluation (Indiana School Boards Association Tool or some other mutually agreeable evaluation tool) – 45%; (B)
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Performance Incentive Pay. The Chief Executive Officer may grant any person employed in any class in the CRAMA Management Unit a lump sum bonus of up to 5% of the annual amount of the appropriate step rate of the salary range prescribed for that class subject to the following conditions: 1. The bonuses shall be paid in a lump sum in the last quarter of the fiscal year and shall not exceed 5% of the total pay received for the previous 12 month period. 2. The number of persons receiving bonuses may not exceed one-third (1/3) of the bargaining unit as of June 1 each year; however, there is no obligation to provide bonuses to the maximum number of employees or to any at all. 3. The bonuses shall not be included in the salary base; if allowed by XxxXXXX, the lump sum amount may be included in the pension base. 4. In deciding who shall receive bonuses and the amount thereof, the Chief Executive Officer shall consider performance criteria established by a committee consisting of three management and three CRAMA representatives plus one joint appointment. The members of the committee shall be designated by December 15 of each year. The committee shall immediately convene to establish criteria and submit its conclusions to the Chief Executive Officer no later than February 15. If the committee is unable to reach a consensus by February 15, the Chief Executive Officer shall establish the guidelines. Such guidelines shall be communicated to all employees by March 1st of each year. 5. Individual employees may self-nominate by submitting a Memorandum of Justification for Incentive Pay to the Chief Executive Officer no later than March 31 of each year. 6. The Chief Executive Officer shall have full authority to decide which employees shall receive the bonuses and the amount of the bonuses so received. 7. No later than June 1 of each fiscal year, the Chief Executive Officer shall certify to the payroll master and the CAO the names of persons in these classes to receive bonuses and specific bonus amounts. 8. Employees who receive bonuses will also receive a Certificate of Merit. 9. The decision of the Chief Executive Officer shall be final and not subject to the grievance procedure. 10. An employee may not receive both Performance Incentive Pay under this Article and Incentive Program Award as provided in Article 16.5 in the same fiscal year.
Sample 1
Performance Incentive Pay. In addition to the base salary established by the “salary schedule”, each principal shall be eligible for performance incentive compensation at the end of each contract year, implemented as follows: 1. The principal and superintendent shall mutually establish school performance goals and growth plan at the beginning of the contract year. The principal’s school performance goals and growth plan will be documented and become components of the principal’s evaluation. 2. The principal and superintendent will meet at least once during the school year to evaluate progress toward meeting the performance goals and growth plan. 3. At the end of the school year, the principal and superintendent will meet to review achievement of the school performance goals, completion of the growth plan and review and discuss the principal’s evaluation summary. The superintendent will document the results of this review, will determine a performance rating based upon the overall final score on the principal’s evaluation, and file them in the principal’s personnel file. The rating will determine the annual level of performance incentive pay, as follows: Rating Definition Compensation Compensation Performance Area Criteria Principal Assistant Principal/ Knights Academy Superintendent Performance Rating 3.00-4.00 $3,000* $2,500* School Performance Goal No. 1 School Performance Goal No. Progress towards goal $900* for each goal $900* for each goal *Compensation will be prorated for part-time principal. **Kindergarten only building principal will have State Level Measure compensation split between the School Performance Goals. 4. Performance incentive pay is a one time payment and will not be added to the employee’s base salary. 5. Performance incentive pay, when achieved, will be payable on June 30 of each year. 6. The principal for that building shall provide input to the superintendent on the annual school performance goals and growth plan for the assistant principal. The building principal shall provide input and recommendation to the superintendent for mid-year and end of school year achievement of the school performance goals and growth plans for the assistant principal. The principal will complete the assistant principal evaluation which shall be reviewed with the superintendent who will make the final determination of the performance rating.
Sample 1
Performance Incentive Pay. All employees shall be eligible to receive an amount not to exceed $3,000 in in performance incentive pay for the completion of up to (3) three performance objectives. Performance objectives will be established with the employee’s immediate supervisor and shall align with current District initiatives. The amount of the performance incentive which an employee may receive will be pro-rated depending on the number of objectives completed. Payment will occur on the pay period immediately following the successful completion of the objectives. Objectives must be completed by the end of the fiscal year in which they were developed to be eligible for the associated payment.
Sample 1
Performance Incentive Pay. In addition to the compensation described in section 3.1 above, the Superintendent shall be eligible for up to a Seven Thousand Five Hundred and No/100 ($7,500.00) performance bonus for the 2018–2019 school year. The amount of the $7,500.00 performance bonus awarded will be determined by the Board, pursuant to a written performance plan that is agreed to and based upon the Superintendent’s performance against his 2018-2019 performance goals. Upon satisfaction of these conditions, the performance incentive pay will be made in full no later than the next regular pay cycle after the official confirmation of the ratings by the Texas Education Agency.
Sample 1
Performance Incentive Pay. The quarterly performance incentive pay will be determined and paid as follows: 3.2.1. AMOUNT: Incentive Bonus of up to $18,750 each quarter.
Sample 1
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Performance Incentive Pay. The Superintendent shall qualify to receive Performance Incentive Pay during the term of this Contract as follows: 1. A one-time lump sum payment in the amount of Ten Thousand and 00/100 Dollars ($10,000.00) in the event that SBCSC receives during the 2020-2021 school year an overall corporation grade of “B” under the A-F metric then established by the Indiana State Board of Education (based upon academic achievement that occurs during the 2019-2020 school year). 2. A one-time lump sum payment in the amount of Twenty-five Thousand and 00/100 Dollars ($25,000.00) in the event that SBCSC receives during the 2020- 2021 school year an overall corporation grade of “A” under the A-F metric then established by the Indiana State Board of Education (based upon academic achievement that occurs during the 2019-2020 school year). 3. A one-time lump sum payment in the amount of Twenty-five Thousand and 00/100 Dollars ($25,000.00) in the event that SBCSC is successful in passing a 4. The sum total of the Performance Incentive Pay received by the Superintendent will not exceed Twenty-five Thousand and 00/100 Dollars ($25,000.00) during the term of this Contract. 5. As a prerequisite to the receipt of the Performance Incentive Pay, the Superintendent must have received an overall performance evaluation rating of at least Effective for the contract year in question. The Board will contribute the Performance Incentive Pay into the 401(a) plan on behalf of the Superintendent in a lump sum within forty-five (45) days of the end of the applicable contract year. 6. In the event that the Superintendent qualifies to receive Performance Incentive Pay in the amount of Twenty-five Thousand and 00/100 Dollars ($25,000.00), the Board will reduce this contribution to the 401(a) plan in the amount of Five Thousand and 00/100 Dollars ($5,000.00), which the Board will instead pay to the SBCSC Education Foundation in order to advance their mission and operations.
Sample 1

Related to Performance Incentive Pay

  • Performance Incentive 4.10.1 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. 4.10.2 With respect to part of a Year in which the term of this Agreement begins or ends, the relevant quantities in Clause 4.10.1, except the Multiplier, shall apply pro-rata. 4.10.3 Within thirty (30) days of expiry of a Year, the Seller shall submit an invoice to the Purchaser with respect to the PI payable in terms of Clause 4.10.1 and the Purchaser shall pay the amount so due within thirty (30) days of the receipt of the invoice. In the event of non-payment of PI by the due date, the Seller shall have the right to suspend Coal supplies without absolving the Purchaser of its obligations under this Agreement.

  • Performance Incentives As a bonus, to supplement Assistant Coach’s compensation, as set out herein, the University agrees to pay the following sums upon attainment of each specified goal, provided the Program is 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 Assistant Coach knew or should have known. Assistant Coach must also complete the _________ [insert sport] season as an Assistant [Men’s/Women’s] [delete if sport is football] __________ Coach to receive any performance incentives for that season. Payment will be made to Assistant Coach within 60 days after goal is accomplished. (a) $_________ in any contract year in which the team wins the __________ Conference championship. (b) $_________ in any contract year in which the team participates in post-season NCAA competition. (c) $_________ for each game that the team wins in NCAA post-season competition. (d) $_________ in any contract year in which the team wins the NCAA championship.]

  • 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.

  • Annual Incentive Payment The Executive shall participate in the Company's Management Incentive Plan (or such alternative, successor, or replacement plan or program in which the Company's principal operating executives, other than the Chief Executive Officer, generally participate) and shall have a targeted incentive thereunder of not less than $240,000 per year; provided, however, that the Executive's actual incentive payment for any year shall be measured by the Company's performance against goals established for that year and that such performance may produce an incentive payment ranging from none to 200% of the targeted amount. The Executive's incentive payment for any year will be appropriately pro-rated to reflect a partial year of employment.

  • Incentive Pay (1) For any calendar year: in which twenty-five percent (25%) of the number of members employed as of January 1 of each year are rated as either Level II or Level III in every phase of the PFT then (a) Members who are rated at Level II in all phases of the PFT will receive three hundred dollars ($300.00) in a one-time lump sum payment. (b) Members who are rated at Level III in all phases of the PFT will receive six hundred dollars ($600.00) in a one-time lump sum payment. (2) For any calendar year in which fifty percent (50%) of the number of members employed as of January 1 of each year are rated as either Level II or Level III in every phase of the PFT then: (a) Members who are rated at Level II in all phases of the PFT will receive six hundred dollars ($600.00) in a one-time lump sum payment. (b) Members who are rated at Level III in all phases of the PFT will receive nine hundred dollars ($900.00) in a one-time lump sum payment. (3) All lump sum payments referenced herein will be paid in February of the following year.

  • Annual Incentive Awards The Executive shall participate in the Company's annual incentive compensation plan with a target annual incentive award opportunity of no less than 40% of Base Salary and a maximum annual incentive award opportunity of 80% of Base Salary. Payment of annual incentive awards shall be made at the same time that other senior-level executives receive their incentive awards.

  • Annual Incentive Bonus The Company shall, in addition to Executive’s Base Salary, pay Executive an Annual Incentive Bonus, which shall be payable within 120 days of the end of each fiscal year in accordance with the formula set forth on Exhibit A, attached hereto and made a part hereof.

  • 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.

  • 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”).

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