Variable Remuneration. We also pay most Job Family Employees variable remuneration, which is a portion of your pay linked to performance. Variable remuneration is determined in accordance with rules set by us from time to time and is at our discretion. Variable remuneration is not governed by this Agreement. However, you will continue to receive your current variable remuneration after the Commencement Date – as set out in your Remuneration Summary.
Variable Remuneration. 5.1 The Employee may, at the Company's sole discretion, be eligible to participate in bonus arrangements established by the Company from time to time. Any bonus, if awarded, will primarily be based on individual, business unit and Company performance. The target amount shall be 30 per cent of the annual Base Salary.
Variable Remuneration. (a) Subject to Paragraph (b) below, in addition to the interest payable pursuant to Article 4.1 (Deferred Interest Fixed Rate) above and in consideration of the Bank making the Credit available to the Borrower in accordance with this Contract, the Borrower hereby grants and reserves for the benefit of the Bank, irrespectively of the amount disbursed under this Contract, a participation in each Released Batch during the Remuneration Period equal to EUR [*****] ([*****] euros) per Released Batch (the “Remuneration Payments”) and hereby undertakes to pay the relevant Remuneration Payments to the Bank subject to the terms of this Contract. For the avoidance of doubt and by way of distinction from a silent partnership (stille Beteiligung), the Bank does not participate in any loss of the Borrower or any other Group Company.
Variable Remuneration. The agreed variable remuneration will be charged per calendar quarter. Remuneration will be due for each calendar month for each Customized Index. This remuneration shall be the product of
Variable Remuneration. 11. The definition of “Net Sales” under article 1.2 (Definitions) shall be deleted in its entirety and replaced with the following:
Variable Remuneration. The Bank and the Borrower agree that in consideration of the Bank making the Credit available to the Borrower in accordance with this Contract, the Borrower shall pay to the Bank each year (starting with the Financial Year in which the cumulative Net Sales for that and all previous Financial Years exceed EUR 5,000,000 (five million Euros)), on the Payment Date falling after the publication of the Annual Financial Statements, an amount equal to three per cent. (3%) of any Annual Vaccine Revenues as reported in the relevant Annual Financial Statements (the “Variable Remuneration”), provided that aggregate Variable Remuneration payable hereunder in one or more Financial Years shall not exceed an amount equal to the greater of:
Variable Remuneration. 1 Right to variable remuneration You are entitled to variable remuneration. The following table applies to you as from 1 January 2015: Salary scale Non fee earner Management
Variable Remuneration. Mr Den Houter’s variable remuneration consists of an annual short-term bonus and a long-term performance share plan. The short-term bonus depends on the realisation of predetermined measurable objectives and targets. Two thirds of the short-term bonus is based on financial criteria, the remaining one third on non-financial performance conditions. Payment increases in line with performance, starting with a payment of 35 per cent of the fixed annual remuneration at the threshold performance and potentially rising to a payment of 75 per cent of the fixed annual remuneration at maximum performance for each individual target. No payment will be made below the threshold performance. To further strengthen the relationship with the interests of the shareholders, a long-term performance share plan applies to Mr Den Houter. Conditional shares are allocated annually. The allocation value is 60 per cent of Mr Den Houter’s fixed annual remuneration. After three years, an assessment will be made whether three predetermined performance criteria, each decisive for one third of the conditionally allocated shares, have been realised. In accordance with the Dutch corporate governance code, the performance period of three years is followed by a two year lock-up period. Mr Den Houter may not dispose of shares until the two year lock-up period has expired and the minimum requirement for the shareholding, being 75 per cent of the fixed annual remuneration, has been met. For more information, please see BAM’s annual report. Pension Mr Den Houter takes care of making his personal pension arrangements. Mr Den Houter receives an annual allowance equal to the employer’s contribution to XXX’s pension scheme for a pensionable salary of €450,000.-.
Variable Remuneration. (concerns all) In addition, an employee who would have been working scheduled ordinary working hours in which an unsociable hours supplement or other variable remuneration would have been paid, receives sick pay from the second day of the sickness period at 80% of the remuneration that the employee has lost on these days. Sick pay is not paid for the qualifying period. Note to the minutes The parties agree that a local agreement may be made on the calculation of the qualifying period.
Variable Remuneration. Variable remuneration for Practitioners is based on Total Licensee Revenue (TLR). TLR is shared between NAB Financial Planning and Practitioners based on a standard Remuneration Split of 50%. Practitioners are eligible to receive incentive payments on TLR in excess of Threshold. Threshold is based on a multiple of three times TRP for Planners and two times for BPS. The standard uncapped incentive payments which apply once TLR exceeds Threshold are: INDIVIDUAL PAYMENTS plus SHARE OF GROWTH PAYMENTS plus Scorecard Incentive Pool 10% Growth Incentive 15% + Business Development Fund 5% Individual Incentive 80% Business Protection Specialists ▪ Business Protection Specialists receive an Individual Incentive of 100% and do not participate in Growth Incentives ▪ Business Protection Specialists receive BDF payments in addition to their Individual Incentive. ▪ Business Protection Specialists are rewarded via a separate Scorecard Incentive Pool. Full details regarding the practical application of these concepts and the calculation of Individual Incentive and Growth Incentive can be found in the NAB Financial Planning Policy Statement – Remuneration.
