PERFORMANCE PREMIUM Sample Clauses

PERFORMANCE PREMIUM. All employees in the ranks of Park Sergeant and Park Patrol Officer who have completed their probationary period with the MPRB shall be entitled to a lump sum payment upon receiving a satisfactory performance evaluation. The performance evaluation shall be completed with notification of satisfactory performance sent to payroll by November 15 with the premium being paid by December 31 of each year. The performance premium shall be equal to two percent (2%) of the employee’s base annual wage, exclusive of shift differential, overtime or other forms of additional compensation. If the MPRB does not conduct a performance evaluation, the employee shall be considered to have received a satisfactory evaluation. An eligible employee who does not receive a satisfactory performance evaluation may, within thirty (30) calendar days of receipt of the evaluation, appeal the evaluation to the Director, Park Safety and Security for a final decision.

PERFORMANCE PREMIUM. Effective January 1, 2017, performance premium shall no longer be payable to Police Officers under this Section. In lieu thereof, as of that date and after the application of the negotiated wage adjustment effective on that date, the wage schedule for the rank of Police Officer shall be adjusted as follows: 1% shall be added to each step of the wage schedule; except that 2% shall be added to the top step of the wage schedule. Employees in the rank of Sergeant shall be entitled to a lump sum payment upon receiving a satisfactory or higher performance evaluation using job expectations and performance standards established by the Director, Park Safety and Security. The performance evaluation shall be completed with notification of satisfactory performance sent to payroll by November 15 with the premium being paid by December 31 of each year. The performance premium shall be equal to two percent (2%) of the employee’s base pay, exclusive of shift differential, overtime or other forms of additional compensation. The performance premium shall be prorated for each scheduling cycle during which no work was performed for the majority of hours which would normally have been scheduled, excluding the use of sick leave, vacation leave, military leave (payable upon return), documented FMLA leave or compensatory time. If a supervisor does not conduct a performance evaluation, the employee shall be considered to have received a satisfactory evaluation. An eligible employee who does not receive a satisfactory performance evaluation may, within thirty (30) days of receipt of evaluation, appeal the subjective portions of the evaluation to the appropriate Director, Park Safety and Security for a final decision. The issue of whether a performance evaluation was conducted shall be subject to provisions of Article 5. Effective January 1, 2019, performance premium shall no longer be payable under this Section and, in lieu thereof, 2% shall be added to each step of the wage schedule for the rank of Sergeant after application of the negotiated wage adjustment effective on that date.

PERFORMANCE PREMIUM. Provided that: (i) LPI meets the quantity, quality, and delivery date requirements for the monthly purchase order placed by Collagen pursuant to Section 3.2, and (ii) LPI has no outstanding unfulfilled orders for Products, Collagen agrees to pay to LPI a premium equal to [***] of the total amount of the purchase order, exclusive of Value Added Tax ("VAT"), made by Collagen and fulfilled by LPI during such month (the "Premium Payment"). If LPI: (A) fails to meet any quantity, quality, or delivery date requirement for any month; or (B) has outstanding unfulfilled orders for Products as of that month, it shall be disqualified from receiving, and Collagen shall be relieved from its obligation *** Confidential treatment has been requested

PERFORMANCE PREMIUM. The Company agrees to implement a “performance pay premium” effective January Performance pay premium will be based on the following:. April 18/99to August 7/99 August 8/99 to October October 31/99 forward premium ten cents (1 per hour worked premium fifteen cents (1 per hour worked Quality comprises shortages, overages and selection errors on outbound selected orders. 24/99 July 1-6) July 1/99 22/00 23/00 July 8/00 July 9/00 forward error free error free error error free Premium will be paid on a period basis on first available payroll run once targets are verified. Note: If the year to date target (client fiscal year end) is met for quality the Company Will pay pay for periods where targets were not met. This payment will be paid on the first ▇▇▇▇▇ available payroll run once target is verified.

PERFORMANCE PREMIUM. The Commission is prepared to award a "P.erformance premium" t o employees in certain jobs where productivity and quality of work meet and exceed standards consistently. It may take up to a month to establish where and when such a premium is warranted and shall be considered after the employee has demonstrated that he or she is qualified. Likewise, it does not apply automatically to an employee who may be relieving on a job or shift where the employee being relieved was in receipt of such premium. It does not apply to work on a day to day basis. It is intended as a reward for continued excellent performance.

PERFORMANCE PREMIUM. 3.5.1 Subject to achievement of the PERFORMANCE PREMIUM EBITDA, MACDERMID shall pay HERCULES a premium of Fifteen Million Dollars ($15,000,000) as additional consideration for the E&PD BUSINESS ITEMS (the "PERFORMANCE PREMIUM"), all in accordance with the following: (A) HERCULES shall earn and be entitled to and MACDERMID shall be obligated to pay the PERFORMANCE PREMIUM if, and only if, the aggregate Earnings Before Interest, Taxes, Depreciation And Amortization ("EBITDA") of MACDERMID for the first, second, third and fourth MACDERMID Full Fiscal Years following the CLOSING DATE is equal to or greater than Two Hundred Fifty Million Dollars ($250,000,000.) (the "PERFORMANCE PREMIUM EBITDA"). (B) The PERFORMANCE PREMIUM, if payable, shall be paid ninety (90) days after the end of the seventh (7th) MACDERMID Full Fiscal Year following the CLOSING DATE; provided, however, if such payment exceeds the sum of fifty percent (50%) of MACDERMID's cumulative Consolidated Net Income After Tax ("NIAT") for the period from the first day of the month immediately before the CLOSING DATE if the CLOSING DATE is a day before the 15th of the month or the first day of the month immediately after the CLOSING DATE if the CLOSING DATE is the 15th or a later day of the month less all redemptions of the MACDERMID PREFERRED STOCK pursuant to the SERIES A PREFERRED STOCK AGREEMENT through the date of such payment, then any portion in excess of the said fifty percent shall be paid ninety (90) days after the end of the next MACDERMID Full Fiscal Year and each subsequent MACDERMID Full Fiscal Year until paid in full, subject in the case of each MACDERMID Full Fiscal Year to the said fifty percent NIAT limitation less redemptions and amounts theretofore paid on account of the PERFORMANCE PREMIUM. The NIAT limitation-portion carryover payment process shall continue year after year until the entire $15 million PERFORMANCE PREMIUM has been paid in full. (C) If after the CLOSING DATE and on or before the end of the fourth MACDERMID Full Fiscal Year following the CLOSING DATE (the "Interim Performance Period") there shall occur an event described in Section 3.5.1 (D) (as hereinafter defined) of MACDERMID, and further, if, and only if, the aggregate EBITDA of MACDERMID during that portion of the Interim Performance Period preceding the CHANGE IN CONTROL equals or exceeds the applicable amount in Column 4 of Schedule 3.5.1, then HERCULES shall be deemed to have earned and be entitled to, and M...

PERFORMANCE PREMIUM. Supervisory employees are responsible for assuring that employees perform their jobs consistent with the expectations and values of the Minneapolis Police Department and the City of Minneapolis. As part of the performance evaluation process, supervisory employees are also responsible for communicating reasonable performance expectations prior to April 1 of each year, and for documenting and notifying employees of inappropriate conduct as soon after the conduct as possible, giving the employee guidance and time to correct behavior. Employees in the ranks of patrol officer and sergeant shall be entitled to a lump sum payment upon receiving a satisfactory or higher performance evaluation using job expectations and performance standards established by the Chief of Police or his/her designee. The performance evaluation shall be completed with notification of satisfactory performance sent to payroll by November 15 with the premium being paid by December 31 of each year. For sergeants and patrol officers and who have completed seven years of service with the Department, the performance premium shall be equal to two percent (2%) of the employee’s base pay, exclusive of shift differential, overtime or other forms of additional compensation. For patrol officers who have not yet completed seven years of service with the Department, the performance premium shall be equal to one percent (1%) of the employee’s base annual wage, exclusive of shift differential, overtime or other forms of additional compensation. The performance premium shall be prorated for each scheduling cycle during which no work was performed for the majority of the hours which would normally have been scheduled, excluding the use of sick leave, vacation leave, military leave (payable upon return), documented FMLA leave or compensatory time. If a supervisor does not conduct a performance evaluation, the employee shall be considered to have received a satisfactory evaluation. An eligible employee who does not receive a satisfactory performance evaluation may, within thirty (30) days of receipt of the evaluation, appeal the subjective portions of the evaluation to the appropriate Bureau Head for a final decision. The issue of whether a performance evaluation was conducted shall be subject to the provisions of Article 5.

PERFORMANCE PREMIUM. It will be due, annually, to BNDES by the BENEFICIARY, a Performance Premium, in the amount equivalent to 0.5% (half of a percent) of the outstanding balance, calculated on December 31, of each year, whenever its EBITDA, as defined in Clause 14, is higher than or equal to the values set forth in the table below, which correspond to the projected EBITDA of BENEFICIARY increased by 10% (ten percent): Referential EBITDA 4,425,911 5,097,604 5,369,501 5,873,540 6,067,110 6,531,243 6,728,549 7,240,406 The Performance Premium contemplated in this Clause shall be paid to BNDES in 8 (eight) installments, monthly and successive, the first falling due on May 15 of each year in which it is due.

PERFORMANCE PREMIUM. 8 3.1 DECEMBER 31, 1997 PERFORMANCE PREMIUM 8 3.2 DECEMBER 31, 1998 PERFORMANCE PREMIUM 8 3.3 ALLOCATION 9 3.4 CASH OR SMC COMMON STOCK 9 3.5 DELIVERY OF PERFORMANCE PREMIUMS 9 3.6 ARBITRATION 10 3.7 ASSIGNABILITY 10 3.8 CONTINGENT PAYMENT COMMITTEE 10 3.9 RIGHT TO OFFSET 11