Performance Rewards Clause Samples
Performance Rewards. The parties recognize that management has the right and authority to reward or compensate members for performance considered to be superior as determined by a formal performance appraisal process.
Performance Rewards. All parties to this agreement support and actively participate in all formal and informal improvement programs which increase productivity, efficiency and flexibility and reduce costs on the sites. It is noted that during the life of this Agreement the company agrees to participate in discussions regarding the basis of productivity sharing and in conjunction with the parties to this Agreement will establish a suitable forum (possibly to include all or part of the new JCC) whereby productivity gain sharing can be discussed. In relation to the general concept of productivity gain sharing, it is noted that;
(a) the company will continue to explore opportunities for productivity gain-sharing, having regard to the nature and scope of the productivity gains and the overall performance of the business;
(b) productivity sharing should be undertaken on a company-wide basis, not by individual department or work area
Performance Rewards. Where applicable and individual or workplace group performance warrants, the General Manager may approve rewards and conditions in addition to base salary for individuals or workplace groups performance. Such rewards will require justification in line with company policy audit procedures.
Performance Rewards. After the three-year performance covenant period expires, provided that the net profit accumulatively achieved by the Subject Company reaches the operating target, that is, the net profit accumulatively achieved in such 3 years reaches RMB 152,000,000 and above, the parties agree to allocate at one time 20% of the part exceeding the operating target as rewards to the management team, however, to the extent of 10% of the total amount of this investment. (The list of personnel to whom rewards are granted and rewards proportion and implementation plan shall be proposed by the Board of Directors of the Subject Company and reviewed by the General Meeting of Shareholders), The specific amount of rewards is calculated as follows: Amount of rewards = (net profit accumulatively achieved by the Subject Company during the performance covenant period –RMB 152,000,000) *20%
Performance Rewards. To encourage good performance, the department has granted the following performance rewards during the year under review. The information is presented in terms of race, gender, disability, salary bands and critical occupations (see definition in notes below).