Salaries and Bonus Programs Sample Clauses

Salaries and Bonus Programs. A. Salary Increases: B. Pay for Performance Program 1) the employee receives a total of at least eight (8) points for the ratings of performance categories, valued as follows: two points for each rating of “Exceeds Often” (EP) and one point for each rating of “exceeds sometimes” (ES); and 2) the employee does not receive any performance rating of “Unsatisfactory.” If an employee is evaluated in nine (9) of the ten (10) categories on the evaluation, they will be eligible for PFP pay if they receive a total of at least seven (7) points for the ratings on the performance categories. If they are evaluated in either eight (8) or seven (7) of the ten (10) categories on the evaluation, they will be eligible for PFP pay if they receive a total of at least six (6) points. In addition, the parties agree to a reopener regarding the City’s modification to the Performance Evaluation process (including the form) and its impact on the Pay for Performance Program during the term of this MOU. If negotiations regarding modifications to the Performance Evaluation process (including the form) are not completed prior to June 30, 2024, the parties agree that the above shall continue until such time those negotiations are completed. Employees are eligible to receive up to five percent (5%) of their base salary for Pay for Performance in a lump sum payment. If the employee is eligible for Pay for Performance, the Department Head of the employee will determine the Pay for Performance award. Evaluations will be issued in accordance with the employee’s normal evaluation period. However, the determination of PFP awards for all employees who meet the established eligibility criteria will be made following the end of each fiscal year (no later than 60 days following the end of the fiscal year). As an example: An employee whose evaluation period is January 15th – January 14th each year will be eligible for PFP after the end of the Fiscal Year (no later than September 1). The parties agree that to the extent permitted by law, Pay for Performance pay is special compensation for “classic member” employees as defined in Exhibit C to this MOU and shall be reported as such pursuant to Title 2 CCR, Section 571(a)(1) Incentive Pay - Bonus.
Sample 1
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Salaries and Bonus Programs 
Sample 1

Related to Salaries and Bonus Programs

  • Bonus Programs Employee may participate in any incentive program which may be made available from time to time to Corporation’s employees at Employee’s level; provided, however, that Employee’s participation is subject to the applicable terms, conditions and eligibility requirements of the program, as they may exist from time to time.

  • Bonus Program You will be eligible for an annual target bonus of 35% of your annual base salary as determined by the Board in its sole discretion based upon, among other things, the achievement of pre-determined performance milestones. Any annual bonus, if earned, shall be paid no later than March 15th of the year immediately following the year to which the applicable annual bonus relates.

  • Bonus Plans A bonus is a lump sum payment that is not a permanent increase to the salary base of the individual and may be granted at the discretion of the President. A bonus may be awarded at any time and may be used for a variety of salary adjustments including, but not limited to, the following:

  • 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.

  • Bonus and Incentive Compensation Executive shall be entitled to equitable participation in incentive compensation and bonuses in any plan or arrangement of the Bank or the Company in which Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

  • Bonus Plan Such bonus, if any, as shall be determined upon the recommendation of the CEO by the Board (or any designated Committee of the Board comprised solely of independent directors), shall be paid in accordance with the terms and conditions of the bonus plan established for the Company (“Bonus Plan”).

  • Long-Term Incentive Compensation Subject to the Executive’s continued employment hereunder, the Executive shall be eligible to participate in any equity incentive plan for executives of the Firm as may be in effect from time to time, in accordance with the terms of any such plan.

  • Short-Term Incentive Compensation In addition to the foregoing Base Salary, the Executive shall be eligible during the Term to receive cash short-term incentive compensation, determined and payable in the discretion of the Compensation Committee of the Board. At least annually, the Compensation Committee shall consider awarding short-term incentive compensation to the Executive.

  • Incentive Compensation During the Term, the Executive shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executive’s target annual incentive compensation shall be thirty-five percent (35%) of his Base Salary. To earn incentive compensation, the Executive must be employed by the Company on the day such incentive compensation is paid.

  • Incentive Compensation Plan In addition to receipt of Basic Compensation under the Employment Agreement, you shall participate in the Incentive Compensation Plan for Executive Officers of the Company (the “Compensation Plan”) and shall be eligible to receive incentive compensation under the Compensation Plan as may be awarded in accordance with its terms.

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