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TEAM AWARD Sample Clauses

TEAM AWARDThe Company will notify the Union each year, as soon as prac- ticable but no later than the end of the first quarter, of the measures to be used to determine the Team Award payout for that year. The Company shall determine the measures used to determine the Team Award for any year. Achievement of objec- tives will be a factor in the final percentage of Team Award to be awarded to employees; however, the Company has the sole discretion to determine if a Team Award will be paid in any per- formance year and if a Team Award will be paid, the percentage of the Team Award, which will be paid. If the Company determines that a Team Award will be paid, the value of the award will be calculated as a percentage of an employee’s actual annual base wages for the award year.
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TEAM AWARDSection 9.1 Employees on the active payroll on December 31, in wage groups 1, 2, 3 and 4 will be eligible for a team award with a target payout of 3% and a maximum payout of 3.75%. The team award will be paid based on the team meeting or exceeding the goals defined by the company. The Team Award will be calculated by multiplying the award percent against an eligible employee’s annual compensation, which includes pay for regular hours worked, overtime, differentials, commissions, individual performance bonus, excused non-paid Union time, and all paid time. The Team Award will be paid based on the team meeting or exceeding its defined goals. These goals will be defined by measurements and goals set by the Company. Prior to the implementation of the Team Award the Company will review and discuss with the Union the components, objectives and calculation methods. This payment will be subject to deductions for union dues, savings plan participation and all other deductions required by law. Company decisions regarding Team Award implementation and administration are not subject to the grievance or arbitration provisions of this agreement. The Company will meet with the Union to discuss any individual employee appeals or disputes arising under the Team Award plan. Said employee appeals shall only be allowed for issues regarding employee eligibility or regarding the amount of the employee’s award, and for no other purpose. Employee appeals shall be to the Director of Human Resources of the Company or his/her designate, and the Director’s decision shall be final and not subject to the grievance or arbitration provisions of this agreement.
TEAM AWARDSection 9.1 Employees in wage groups 1, 2, 3, and 4, on the active payroll on December 31 of a performance year are eligible to receive a Team Award (TA) of 3% if the company meets or exceeds the stated sales revenue target for the plan year(s). The TA is for years 2003, 2004, 2005, and 2006. The TA will be calculated by multiplying the award percent against an eligible employee’s annual compensation, which includes pay for regular hours worked, overtime, differentials, commissions, individual performance bonus, excused non-paid Union time, and all paid time. Eligible employees who entered the employment of the Company, were promoted to management, or moved from or returned to a participant job position during the course of the year, will receive an award based on the time that person was in the position. This payment will be subject to deductions for union dues, savings plan participation, and all other deductions required by the law. Wage Groups Payout Target Payout Date 1, 2, 3, 4 3% By March 31, 2004 By March 31, 2005 By March 31, 2006 By March 31, 2007 Company decisions regarding Team Award implementation and administration are not subject to the grievance or arbitration provisions of this agreement. The Company will meet with the Union to discuss any individual employee appeals or disputes arising under the TA plan. Said employee appeals shall only be allowed for issues regarding employee eligibility or regarding the amount of the employee’s award, and for no other purpose. Employee appeals shall be to the Director of Human Resources of the Company or his/her designate, and the Director’s decision shall be final and not subject to the grievance or arbitration provisions of this agreement.
TEAM AWARDSection 9.1 Operations employees in Wage Groups 1 and 2 who are on the active payroll on or before the 30th day of the Plan Quarter will be eligible for a Team Award with a target payout of 3%, administered in the same manner as for the Company’s management employees. The Team Award will be paid based on the team meeting or exceeding the corporate performance measures and goals defined in the Short-term Incentive Plan, as modified by the Company from time to time. The Team Award will be calculated by multiplying the award percent against an eligible employee’s paid time.
TEAM AWARD. TEAM AWARD

Related to TEAM AWARD

  • Performance Award You are hereby awarded, on the Grant Date, a Performance Award with a target value of [AMOUNT].

  • Incentive Award The three (3) year rolling average of earnings growth and Return On Equity (the "XXX") and determined as of December 31 of each plan year shall determine the Director's Incentive Award Percentage, in accordance with the attached Schedule A. The chart on Schedule A is specifically subject to change annually at the sole discretion of the Company's Board of Directors. The Incentive Award is calculated annually by taking the Director's Annual Fees for the Plan Year in which the XXX and Earnings Growth was calculated times the Incentive Award Percentage.

  • Performance Share Award If your Award includes a Performance Share Award, and you voluntarily terminate your employment prior to the end of the Performance Period, you will forfeit your entire Performance Share Award. 

  • Service Award Named Plaintiff may apply to the Court for a service award of up to ten thousand dollars ($10,000). Subject to the Court’s approval, the service award shall be paid from the Settlement Fund ten (10) days after the Effective Date.

  • Grant Award On and subject to the terms and conditions set forth herein, Triumph hereby agrees to make a grant (the “Grant”) to Grantee in the aggregate maximum amount of up to Two Hundred Thousand and 00/100 Dollars ($200,000.00) (the “Maximum Grant Amount”) to provide partial funding for the Project.

  • The Award All compensation awarded for any taking, whether for the whole or a portion of the Leased Premises, shall be the sole property of the Landlord whether such compensation shall be awarded for diminution in the value of, or loss of, the leasehold or for diminution in the value of, or loss of, the fee in the Leased Premises, or otherwise. The Tenant hereby assigns to Landlord all of Tenant's right and title to and interest in any and all such compensation. However, the Landlord shall not be entitled to and Tenant shall have the sole right to make its independent claim for and retain any portion of any award made by the appropriating authority directly to Tenant for loss of business, or damage to or depreciation of, and cost of removal of fixtures, personalty and improvements installed in the Leased Premises by, or at the expense of Tenant, and to any other award made by the appropriating authority directly to Tenant.

  • Award Award shall be made on an all-or-none total estimated bid basis to the lowest responsive and responsible Bidder.

  • Performance Share Awards On the Performance Share Vesting Date next following the Executive's date of death, the number of Performance Shares that shall become Vested Performance Shares shall be determined by multiplying (a) that number of shares of Company Common Stock subject to the Performance Share Agreement that would have become Vested Performance Shares had no such termination occurred; provided, however, in no case shall the number of Performance Shares that become Vested Performance Shares exceed 100% of the Target Number of Performance Shares set forth in the Performance Share Agreement, by (b) the ratio of the number of full months of the Executive's employment with the Company during the Performance Period (as defined in the Performance Share Agreement) to the number of full months contained in the Performance Period. Vested Common Shares shall be issued in settlement of such Vested Performance Shares on the Settlement Date next following the Executive’s date of death.

  • Performance Share Units The Committee may, in its discretion, grant to Executive performance share units subject to performance vesting conditions (collectively, the “Performance Units”), which shall be subject to restrictions on their sale as set forth in the Plan and an associated Performance Unit Grant Letter.

  • Long-Term Incentive Award During the Term, Executive shall be eligible to participate in the Company’s long-term incentive plan, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

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