Variable Performance Bonus. 7.2.1. The Employee may be awarded a variable performance bonus payment on a discretionary basis as determined by the Employer each year.
7.2.2. The Employer and the Employee hereby acknowledge and agree that the absolute amount of the variable performance bonus to be awarded is solely at the discretion of the Employer and is dependent on the Employer’s company performance as well the Employee’s individual performance. As at the date of this Agreement, the Employee’s target performance bonus is calculated as follows: = SGD126,000.00 = SGD126,000.00 / 70% = SGD180,000.00 = SGD180,000.00 x 30%
Variable Performance Bonus. 7.2.1. The Employee may be awarded a variable performance bonus payment on a discretionary basis as determined by the Employer each year.
7.2.2. The Employer and the Employee hereby acknowledge and agree that the absolute amount of the variable performance bonus to be awarded is solely at the discretion of the Employer and is dependent on the Employer’s performance as well the Employee’s individual performance, as set out in the Performance Management Policy (as amended from time to time)
7.2.3. As at the date of this Agreement, the Employee’s target variable performance bonus is four (4) times the Employees monthly base salary (Target Bonus).
Variable Performance Bonus. (1) The Company shall pay eligible employees a variable performance bonus in accordance with the K Comapny Pte Ltd’s Key Performance Indicators achieved in a calendar year. Refer to Appendix IV to this Agreement.
(2) The total bonus payout at 100% of Key Performance Indicators (Appendix IV) shall be 1.6 month average, with a cap at a maximum of 1.92 month average at 120% and a minimum of 1.28 month average at 80%.
(3) The variable performance bonus shall be paid in two (2) parts. A base bonus of (one) 1 month basic pay shall be paid to eligible employees with performance Grade Three (3) and above. A base bonus of half month basic pay shall be paid to eligible employees with performance Grade Two (2).
(4) The base bonus shall be paid on or before 20th December of each year.
(5) The balance payable shall be paid after the Company updated the Union on the key performance indicators results, by first quarter of each year.
(6) In the event an employee leaves before the second payment, he shall only be entitled to a total payout at 80% of Key Performance Indicators (Appendix IV).
Variable Performance Bonus. 7.2.1. The Employee may be awarded a variable performance bonus payment on a discretionary basis as determined by the Employer each year.
7.2.2. The Employer and the Employee hereby acknowledge and agree that the absolute amount of the variable performance bonus to be awarded is solely at the discretion of the Employer and is dependent on the Employer’s performance as well the Employee’s individual performance, as set out in the Employer’s Performance Management Policy (as amended from time to time). Employee Initials ……………. EMPLOYMENT AGREEMENT V1
7.2.3. As at the date of this Agreement, the Employee’s target performance bonus is SGD0.00.
