TEAM PERFORMANCE BONUS Sample Clauses

TEAM PERFORMANCE BONUS. 21.1 The Team Performance Bonus 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 as well as providing the potential for increased income for eligible employees. 21.2 The Team Performance Bonus Plan will be in effect during 2014, 2015, 2016, and 2017 (the “Plan Years” or, individually, “Plan Years”). For each Plan Year, all eligible non- commissioned employees will be assigned to the same team and covered by the Plan. 21.3 The team performance bonus plan will include a variety of bonus components, with relative weightings and objectives, as assigned by the Company. i. Following are examples of bonus components that may be assigned by the Company: • Trouble Tickets per 100 Access Lines • Commitments Met on Trouble • Commitments Met on Service Orders • Held Order Results • Mean Time to Repair (MTTR) • Preventative Maintenance Plan (PMP) • Repeat Rate(s) • Take the Lead Participation • Take the Lead Revenue 21.4 The Company will establish the objectives for each component no later than March 31st of the Plan Year for which they apply. The Company will communicate all objectives to the Union and employees. 21.5 For each Plan Year, the available bonus pool will be 1% of the gross annual base wages for the bargaining unit employees. The actual Payout Percentage for each Plan Year will range from a minimum of 50% to a maximum of 150% of the available bonus pool, based upon achievement of team objectives. 21.6 Plan results will be measured, and Team Performance Bonus Awards will be paid out to eligible employees, on an annual basis based on Team results. (i) In order to be eligible for a Team Performance Bonus Award payout, employees must be on the payroll as of December 31 of the Plan Year (e.g., December 31, 2014 for the bonus paid in 2015). For employees who are laid off or who retire during the Plan Year, this December 31 eligibility date does not apply; the bonus will instead be prorated based on the number of full months worked that year. (ii) For new hires and for employees who are not actively at work for 30 or more consecutive days during the Plan Year, the bonus will be prorated according to the number of full months the employee is actively at work during the Plan Year. (iii) An employee transferring or changing bonus teams f...
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TEAM PERFORMANCE BONUS. (a) The Team Performance Bonus is designed to encourage and recognize teamwork and affords employees a means of participating in the growth and success of the Company resulting from improved productivity and operating competitiveness as well as providing the potential for increased income for eligible employees. (b) The team performance bonus plan will include a variety of bonus components, as assigned by the Company along with relative weighting. The bonus components for 2007 are the following: 1. Take the Lead Program – revenue generated 2. Commitments Met – hit assigned targets: i. 90% for trouble tickets ii. 98% for service orders 3. Repeat Reports – hit assigned targets: i. <3% for installation ii. <8% for trouble tickets (c) The Company will establish the objectives for each component by January 31 of each year. The Company will communicate all objectives to the union and employees. (d) All employees in the bargaining unit will be covered by the plan. The results will be measured and paid out to employees on a semi-annual basis based on their results (50% of the pool every 6 months). (e) The bonus will be prorated for new hires according to the number of full months a new hire was employed. If an employee leaves the payroll during the year preceding the year in which the bonus will be paid, the bonus will be prorated based on the number of full months worked that year. (f) The plan will begin in July 2007 and will continue in calendar years 2008, 2009,2010, and 2011. The annual bonus pool will be 1% of the gross base wages for the bargaining unit employees. The payouts will be calculated based upon even weighting of the bonus components with each component ranging in value from 0 – 150%. For calendar year 2007, the payout percentage will range from a minimum of 75% to a maximum of 125% of the available bonus pool. For calendar years 2008, 2009, and 2010 the payout percentage will range from a minimum of 75% to a maximum of 125% of the available bonus pool. For calendar year 2011, the payout percentage will range from a minimum of 50% to a maximum of 150% of the available bonus pool.
Sample 1
TEAM PERFORMANCE BONUS. The team performance bonus is designed to encourage and recognize teamwork through incentive compensation. It is intended to afford employees a greater role in the growth and success of the Company by encouraging and rewarding improved productivity and competitiveness.
Sample 1

Related to TEAM PERFORMANCE BONUS

  • Annual Performance Bonus During the Employment Term, the Executive shall be entitled to participate in the STIP, with such opportunities as may be determined by the Chief Executive Officer in his sole discretion (“Target Bonuses”), and as may be increased (but not decreased, except for across-the-board reductions generally applicable to the Company’s senior executives) from time to time, and the Executive shall be entitled to receive full payment of any award under the STIP, determined pursuant to the STIP (a “Bonus Award”).

  • Performance Bonus The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

  • Performance Pay In accordance with Section 8 of the General Appropriations Act for Fiscal Year 2020-2021, contingent upon the availability of funds and at the Agency Head’s discretion, each agency is authorized to grant merit pay increases based on the employee’s exemplary performance, as evidenced by a performance evaluation conducted pursuant to Rule 60L-35, Florida Administrative Code.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

  • Annual Performance Review The Employee’s performance of his duties under this Agreement shall be reviewed by the Board of Directors or a committee of the Board of Directors at least annually and finalized within thirty (30) days of the receipt of the annual audited financial statements. The Board of Directors or a committee of the Board of Directors shall additionally review the base salary, bonus and benefits provided to the Employee under this Agreement and may, in their discretion, adjust the same, as outlined in Addendum B of this Agreement, provided, however, that Employee’s annual base salary shall not be less than the base salary set forth in Section 4(A) hereof.

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • Cash Bonus Executive shall be entitled to a fraction of any Cash Bonus for the fiscal year of the Company within which Executive’s termination of employment occurs which, based upon the criteria established for such Cash Bonus, would have been payable to Executive had he remained employed through the date of payment, the numerator of which is the number of days of such fiscal year prior to his termination of employment and the denominator of which is three hundred and sixty-five (365); and

  • Incentive Bonus Plan Employee shall be eligible for a bonus opportunity of up to 65% of his annual base salary in accordance with the Company’s Incentive Bonus Plan as modified from time to time, payable in cash and/or equity of the Company (at the Company’s discretion). The bonus payment and the Company’s targeted performance shall be determined and approved by the Board or the compensation committee thereof.

  • Performance Incentives As a bonus, to supplement Assistant Coach’s compensation, as set out herein, the University agrees to pay the following sums upon attainment of each specified goal, provided the Program is in compliance with all Governing Athletics Rules and University Rules, and there are no pending or active NCAA or __________ Conference investigations or major violations of which Assistant Coach knew or should have known. Assistant Coach must also complete the _________ [insert sport] season as an Assistant [Men’s/Women’s] [delete if sport is football] __________ Coach to receive any performance incentives for that season. Payment will be made to Assistant Coach within 60 days after goal is accomplished. (a) $_________ in any contract year in which the team wins the __________ Conference championship. (b) $_________ in any contract year in which the team participates in post-season NCAA competition. (c) $_________ for each game that the team wins in NCAA post-season competition. (d) $_________ in any contract year in which the team wins the NCAA championship.]

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