PERFORMANCE RECOGNITION PLAN Sample Clauses

PERFORMANCE RECOGNITION PLAN. 11.1 The Performance Recognition Plan (the “Plan”) is designed to encourage and recognize teamwork and exceptional employee performance. The Plan affords employees a means of participating in the growth and success of the Company resulting from improved customer service, productivity and operating competitiveness, and rewards employees with additional income for their efforts. 11.2 The Performance Recognition Plan will be implemented during each calendar year this Agreement is in effect, beginning in 2016 (the “Plan Years” or, individually, “Plan Year”). 11.3 For each Plan Year, all non-commissioned employees will be assigned to teams and covered by the Performance Recognition Plan. The Plan will include bonus components, with relative weightings and objectives, as assigned by the Company. The Company will establish and communicate the Plan structure (bonus teams, components, objectives, weightings, etc.) no later than March 31 of the Plan Year for which they apply. 11.4 For each Plan Year, the available bonus pool will be 4% of the gross annual base pay at the top rate for the employee’s classification. The annual payout may be higher or lower than the available bonus pool based on team performance. The maximum annual payout percentage is 120% of the available bonus pool for each classification. The Company and Union have agreed to set aside from this bonus pool a minimum annual payout amount of $600 per eligible and participating employee and to use those monies to instead provide annual Company funding for Healthcare Reimbursement Accounts of $600 for each eligible active employee participating in the Plan. Individual team bonus awards will be reduced accordingly, but not below zero. 11.5 Performance Recognition Plan bonus awards will be paid to eligible and participating employees no later than March 31 of the year following the Plan Year. A. In order to be eligible for this payment, employees must be on the payroll as of October 1 of the Plan Year (e.g., October 1, 2016 for the bonus paid in March 2017). For employees who are laid off or who retire during the Plan Year, and for employees who resign before the payout date, this October 1 eligibility date does not apply; for those employees, the bonus will instead be prorated based on the number of full months the employee worked during the Plan Year. B. For new hires, the bonus will be prorated based on the number of full months worked by the employee during the Plan Year. C. For employees who are not ...
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PERFORMANCE RECOGNITION PLAN. 30.1 The Performance Recognition Plan (“PRP” or the “Plan”) is designed to encourage and recognize teamwork and exceptional employee performance. The Plan affords eligible employees a means of participating in the growth and success of the Company by encouraging and rewarding improved customer service, productivity and operating competitiveness as well as providing the potential for increased income for eligible employees. 30.2 The PRP will be in effect during 2018, 2019 and 2020 (the “Plan Years” or, individually, “Plan Year”). For each Plan Year all employees in the bargaining unit will be assigned to teams and covered by the Plan. 30.3 The PRP will include a variety of business-related bonus components, with relative weightings and objectives, as assigned by the Company. The Company will establish and communicate the Plan features (components, weightings, objectives, etc.) to the Union and employees. 30.4 The potential bonus pool for each Plan Year will be 1% of the employee’s year- end base wage rate multiplied by 2080 hours. For each Plan Year the payout percentage within each team will range from a minimum of 0% to a maximum of 150% of the available bonus pool, depending upon that team’s results, as compared to that team’s objectives. PRP results will be measured, and PRP awards will be paid out to eligible employees, on an annual basis.
Sample 1
PERFORMANCE RECOGNITION PLAN. 33.1 The Performance Recognition Plan (the “Plan”) is designed to encourage and recognize teamwork and exceptional employee performance. The Plan affords employees a means of participating in the growth and success of the Company resulting from improved customer service, productivity and operating competitiveness, and rewards employees with additional income for their efforts. 33.2 The Performance Recognition Plan will be implemented during each calendar year this Agreement is in effect, beginning in 2014 (the “Plan Years” or, individually, “Plan Year”). 33.3 For each Plan Year, all non-commissioned employees will be assigned to teams and covered by the Performance Recognition Plan; employees who participate in other incentive compensation plans are not eligible to participate in the Performance Recognition Plan. The Plan will include bonus components, with relative weightings and objectives, as assigned by the Company. The Company will establish and communicate the Plan structure (bonus teams, components, objectives, weightings, etc.) no later than March 31 of the Plan Year for which they apply. 33.4 For each Plan Year, the available bonus pool will be 0% of the employees’ gross annual base pay at the end of that plan year. The annual payout may be higher or lower than the available bonus pool based on team performance. The maximum annual payout percentage is 120% of the available bonus pool for each classification. 33.5 Performance Recognition Plan bonus awards will be paid to eligible and participating employees no later than March 31 of the year following the Plan Year.
Sample 1

Related to PERFORMANCE RECOGNITION PLAN

  • Service Recognition For purposes of any Seaport Entertainment Benefit Arrangements providing benefits to any Transferring Employees, the Seaport Entertainment Group shall, from and after the applicable Benefit Commencement Date: (i) provide or cause to be provided to each Transferring Employee full credit for purposes of eligibility to participate, vesting and level of benefits under each Seaport Entertainment Benefit Arrangement under which such Transferring Employee is eligible to participate on or after the applicable Benefit Commencement Date for service accrued on or prior to the applicable Benefit Commencement Date with the HHH Group to the same extent that such credit was recognized by the HHH Group under comparable HHH Benefit Arrangements; (ii) use commercially reasonable efforts to waive all pre-existing conditions, exclusions and waiting periods with respect to participation and coverage requirements applicable to the Transferring Employees and their eligible dependents under any Seaport Entertainment Benefit Arrangements in which such Transferring Employees may be eligible to participate after the Distribution Date, except, with respect to pre-existing conditions or exclusions, to the extent such pre-existing conditions or exclusions would apply under the analogous HHH Benefit Arrangement; and (iii) use commercially reasonable efforts to provide each Transferring Employee and their eligible dependents under any Seaport Entertainment Benefit Arrangement with credit for any co-payments and deductibles paid during the portion of the plan year of the corresponding HHH Benefit Arrangement, as applicable, ending on the date such Transferring Employee’s participation in the Seaport Entertainment Benefit Arrangement begins (to the same extent that such credit was given under the analogous HHH Benefit Arrangement, as applicable, prior to the date that the Transferring Employee first participates in the Seaport Entertainment Benefit Arrangement) in satisfying any applicable deductible or out-of-pocket requirements under the Seaport Entertainment Benefit Arrangement; provided, however, that no such credit shall be provided under the foregoing provisions (A) to the extent it would result in duplication of benefits, or (B) for any purpose with respect to any defined benefit pension plan, postretirement welfare plan or any Seaport Entertainment Benefit Arrangement under which similarly situated employees do not receive credit for prior service or that is grandfathered or frozen, either with respect to level of benefits or participation.

  • Transition Plan In the event of termination by the LHIN pursuant to this section, the LHIN and the HSP will develop a Transition Plan. The HSP agrees that it will take all actions, and provide all information, required by the LHIN to facilitate the transition of the HSP’s clients.

  • Compensation Plan 1. Subject to any applicable regulation and the Company's/its contractor approval, the applicant shall choose a Compensation Plan on the Affiliate Participation Form. An Affiliate may not change the elected Compensation Plan. 2. The Company/its contractor may change an Affiliate's Compensation Plan, at any time and at its sole and absolute discretion, by sending such Affiliate a notice to such effect by e-mail. In the event Affiliate does not agree to such change, it shall notify the Company by return e-mail within three (3) days of receiving such notice from the Company, and the Agreement shall terminate immediately. In the event Affiliate does not notify the Company within three (3) days from the notice, it shall be deemed as an approval by the Affiliate to such change in the Compensation Plan. It is hereby clarified that Affiliate will continue to receive payment with respect to Traders identified by a Tracker ID prior to the date of any such change in the Compensation Plan, in accordance with the applicable Compensation Plan at the date such Traders registered to the Site(s).

  • Service Plan 2.1 The Customer shall use the following applicable Service Plan and services during the Term: a) the Service Plan specified in the Sales and Services Agreement or a service plan with monthly fee above the Service Plan amount specified in the Sales and Agreement (not applicable to SIM Only service plan & SuperCare Unbundled Smartphone Plan); and any of the services (“Selected Services”) specified in the Company’s web site “Terms and Conditions” relating to this offer and the aggregate monthly fee (after deduction of any rebate) of such Selected Services is equal to or above the amount specified in the Sales and Services Agreement (if applicable); or b) A Service Plan within the “iPhone SuperCare Smartphone Plans” (applicable to upgrade to a higher monthly fee during the Term) as specified in the Company’s web site “Terms and Conditions” relating to this plan group. 2.2 Service Plan with specified data usage 2.2.1 Whenever the local data usage of the Customer under the relevant Service Plan nearly reaches the specified local data usage (“Specified Data Usage”) the Company will notify the Customer by SMS. The Customer may by return SMS purchase a top-up at the charge as specified in the SMS received (“Top Up”). If the Customer does not wish to purchase the Top Up, local data service under the relevant Service Plan will be automatically suspended when the data usage has reached the Specified Data Usage. The Customer may purchase the Top Up at that time or wait until the beginning of the next bill month for the new Specified Data Usage allowance under the relevant Service Plan. Any unused top-up local mobile data can be carried forward for free and can be used before the end of the next bill month. This is only applicable to designated service plans (1GB or above) with an “Advise & Consent” mechanism for the purchase of top-up data. 2.2.2 Where the Customer has registered more than one Service Plan in an Account, the Company will notify Customer's primary service number (i.e. the first registered service number) by SMS whenever a Top Up is confirmed. 2.3 Applicable to Customer who stacks a new iPhone Contract： 2.3.1 Under Term (i.e. outstanding months under unexpired Previous Contract Term + iPhone Contract Term), the monthly fee and entitlement of new iPhone Contract takes effect immediately and will apply until the expiration of the new iPhone Contract. 2.3.2 If Customer has an existing contract of FUP Unlimited Data Plan stacks a new iPhone Contract, Customer is required to sign a new contract for FUP Unlimited Data Plan. The monthly fee of new FUP Unlimited Data Plan specified in the Sales and Services Agreement takes effect simultaneously when the new iPhone Contract commences and will apply until the expiration of the Term. 2.3.3 (If applicable) If the Customer has a Multi-SIM Plan under an unexpired Previous Contract Term stacks a new iPhone Contract, the monthly fee and service entitlement under the unexpired Previous Contract Term will be superseded and replaced by the monthly fee and service entitlement of the prevailing Multi-SIM Plan at the time of the stacking of the new iPhone Contract (“New Multi-SIM Plan”). The New Multi-SIM Plan shall take effect simultaneously when the new iPhone Contract commences and will apply until the expiration of the Previous Contract Term of the Multi-SIM Plan. 2.4 This Service Plan is charged on a monthly basis. The monthly charges for the first month will be charged on a pro-rata basis from the service effective date to the first bill date. The monthly charges are payable in advance and non-refundable under whatever circumstances. 2.5 This Service Plan is not applicable to 2G phones / connected devices or any phones / connected devices which have manually opted for 2G network. However, if customers opt for FUP unlimited data, in addition to the above conditions, the plan will also not applicable to other connected devices (including but not limited to USB modem / pocket wi-fi / TV box). 2.6 Offer detail Credit offer Credit Amount Wi-Fi Service Plan* full credit back during the Term WiFi Service monthly fee $60 *Customer is required to register for WiFi service 2.7 If the Customer does not notify the Company of termination of the WiFi services specified above prior to the expiry of the Term, the Company shall automatically charge the Customer for the free services specified above at the prevailing monthly fee after the expiry of the Term. 2.8 The Customer shall use Credit Card auto pay to settle monthly fee during the Term. If the Customer does not settle his monthly payment by credit card autopay or uses a 3rd party credit card for payment, a prepayment is required (if applicable).

  • Incentive Programs During the Term of Employment, the ------------------ Executive shall be entitled to participate in any annual and long-term incentive programs adopted by the Company and which cover employees in positions comparable to that of the Executive.

  • EMPLOYEE PERFORMANCE REVIEW AND EMPLOYEE FILES 19.01 (a) When a formal assessment of an employee’s performance is made, the employee concerned must be given an opportunity to discuss and then sign the assessment form in question upon its completion to indicate that its contents have been read. A copy of the assessment form will be provided to the employee at that time. An employee’s signature on his or her assessment form will be considered to be an indication only that its contents have been read and shall not indicate the employee’s concurrence with the statements contained on the form.

  • Performance Assurance Seller agrees to deliver to Buyer Performance Assurance in a form acceptable to Buyer to secure its obligations under this Agreement, which Performance Assurance Seller shall maintain in full force and effect for the period posted with Buyer, as follows:

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