Yearly Incentive Sample Clauses

Yearly Incentive. Employees who accumulate unused paid sick leave in excess of sixty (60) days will be paid for twenty percent (20%) of such excess (full days only) at the close of each fiscal year. The number of such days accumulated will thereupon be reduced by the number of days for which payment is received. It is the intent of this Section that reliable service be rewarded and that career employees be enabled to share the mutual benefits of continued good health.
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Yearly Incentive. On the last pay date of July, an employee will be paid a financial incentive of 25¢ per hour for the prior fiscal year if the employee did not use more than three (3) sick, personal, or unpaid leave days during the prior fiscal year. Note 1: Absences, and sick leave if used, shall not be counted against an employee in terms of eligibility for or calculation of the above financial incentive for matters directly pertaining to the following: ♦ Injury covered under Workers’ Compensation; ♦ Jury duty of the employee; ♦ Work-related subpoena received by the employee; ♦ Association Leave; ♦ Bereavement Leave. In order to waive such an absence in relation to the financial incentive, the employee must supply proper documentation to management prior to the absence. Time cards are work time records covered under Board of Education Policy 4218. No employee is authorized to punch or otherwise tamper with another employee’s time record. Doing so is considered a serious work violation that could result in a first offense discharge of one or both of the employees dependent upon who is found responsible for this infraction.
Yearly Incentive. On the last pay date of July, bus drivers will be paid a financial incentive of $200 for the prior fiscal year if the employee did not use more than two (2) absences in the first semester and no more than two (2) absences during the second semester of said fiscal year for absence reasons of sick (other than for bereavement as provided for in Section 4), personal, or unpaid leave days. Note 1: Absences, and sick leave if used, shall not be counted against an employee in terms of eligibility for or calculation of the above financial incentives for matters directly pertaining to the following:  Injury covered under Workers’ Compensation;  Jury duty of the employee;  Work-related subpoena received by the employee;  Association Leave;  Bereavement Leave (as defined in Article 6, Section 4). In order to waive such an absence in relation to the financial incentive, the employee must supply proper documentation to management prior to the absence. Time cards are work time records covered under Board of Education Policy 4218. No employee is authorized to punch or otherwise tamper with another employee’s time record. Doing so is considered a serious work violation that could result in a first offense discharge of one or both of the employees dependent upon who is found responsible for this infraction.
Yearly Incentive. On the last pay date of July, bus drivers will be paid a financial incentive of 25¢ per hour for the prior fiscal year if the employee did not use more than three (3) sick, personal, or unpaid leave days during the prior fiscal year. Note 1: Absences, and sick leave if used, shall not be counted against an employee in terms of eligibility for or calculation of the above financial incentives for matters directly pertaining to the following: ♦ Injury covered under Workers’ Compensation; ♦ Jury duty of the employee; ♦ Work-related subpoena received by the employee; ♦ Association Leave; ♦ Bereavement Leave (as defined in Article 6, Section 4). In order to waive such an absence in relation to the financial incentive, the employee must supply proper documentation to management prior to the absence. Time cards are work time records covered under Board of Education Policy 4218. No employee is authorized to punch or otherwise tamper with another employee’s time record. Doing so is considered a serious work violation that could result in a first offense discharge of one or both of the employees dependent upon who is found responsible for this infraction.

Related to Yearly Incentive

  • Annual Incentive The Employee shall be entitled to receive a percentage of the Employee's Target Incentive for the calendar year in which such termination occurs. Such percentage shall equal a fraction, the numerator of which shall be the number of days in such calendar year up to and including the date of such termination and the denominator of which shall be the number of days in such calendar year. Such amount shall be payable according to the normal practice of the Company with respect to the payment of bonuses.

  • Annual Incentive Compensation Executive shall be eligible to receive an annual bonus (“Annual Bonus”) with respect to each fiscal year ending during the Employment Period. The Annual Bonus shall be determined under the 2006 Omnibus Incentive Plan (the “Omnibus Plan”) or such other annual incentive plan maintained by the Company for similarly situated employees that the Company designates, in its sole discretion (any such plan, the “Bonus Plan”), in accordance with the terms of such plan as in effect from time to time. For each such fiscal year, Executive shall be eligible to earn a target Annual Bonus equal to seventy percent (70%) of Executive’s Base Salary for such fiscal year, if the Company achieves the target performance goals established by the Board for such fiscal year in accordance with the terms of the Bonus Plan. If the Company does not achieve the threshold performance goals established by the Board for a fiscal year, Executive shall not be entitled to receive an Annual Bonus for such fiscal year. If the Company exceeds the target performance goals established by the Board for a fiscal year, Executive may be entitled to earn an additional Annual Bonus for such year in accordance with the terms of the applicable Bonus Plan. The Annual Bonus for each year shall be payable at the same time as bonuses are paid to other senior executives of the Company in accordance with the terms of the applicable Bonus Plan, but in no event later than two and a half (21/2) months following the end of the applicable fiscal year in which such Annual Bonus was earned. Executive shall be entitled to receive any Annual Bonus that becomes payable in a lump-sum cash payment, or, at his election, (A) up to fifty percent (50%) of the Annual Bonus in the form of a grant of restricted stock units of Common Stock (as defined below) or (B) in any form that the Board generally makes available to the Company’s executive management team, provided that any such election is made by Executive in compliance with Section 409A of the Code and the regulations promulgated thereunder.

  • Annual Incentive Bonus The Company shall, in addition to Executive’s Base Salary, pay Executive an Annual Incentive Bonus, which shall be payable within 120 days of the end of each fiscal year in accordance with the formula set forth on Exhibit A, attached hereto and made a part hereof.

  • Annual Incentive Payment The Executive shall participate in the Company's Management Incentive Plan (or such alternative, successor, or replacement plan or program in which the Company's principal operating executives, other than the Chief Executive Officer, generally participate) and shall have a targeted incentive thereunder of not less than $240,000 per year; provided, however, that the Executive's actual incentive payment for any year shall be measured by the Company's performance against goals established for that year and that such performance may produce an incentive payment ranging from none to 200% of the targeted amount. The Executive's incentive payment for any year will be appropriately pro-rated to reflect a partial year of employment.

  • 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.

  • Performance Incentive 4.10.1 If the Seller delivers Coal to the Purchaser in excess of ninety percent (90%) of the ACQ in a particular Year, the Purchaser shall pay the Seller an incentive (“Performance Incentive”/ “PI”), to be determined as follows: PI = P x Additional Deliveries x Multiplier Where: PI = The Performance Incentive payable by the Purchaser to the Seller P = The Base Price of Highest Grade, as shown in Schedule II Additional Deliveries = Quantity [in tonnes] of Coal delivered by the Seller in the relevant Year in excess of 90% of the ACQ. Multiplier shall be 0.15 for Additional Deliveries between 90%-95% of ACQ and 0.30 for Additional Deliveries in excess of 95% of ACQ. 4.10.2 With respect to part of a Year in which the term of this Agreement begins or ends, the relevant quantities in Clause 4.10.1, except the Multiplier, shall apply pro-rata. 4.10.3 Within thirty (30) days of expiry of a Year, the Seller shall submit an invoice to the Purchaser with respect to the PI payable in terms of Clause 4.10.1 and the Purchaser shall pay the amount so due within thirty (30) days of the receipt of the invoice. In the event of non-payment of PI by the due date, the Seller shall have the right to suspend Coal supplies without absolving the Purchaser of its obligations under this Agreement.

  • Annual Incentive Awards The Executive shall participate in the Company's annual incentive compensation plan with a target annual incentive award opportunity of no less than 40% of Base Salary and a maximum annual incentive award opportunity of 80% of Base Salary. Payment of annual incentive awards shall be made at the same time that other senior-level executives receive their incentive awards.

  • 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.

  • Incentive Pay (1) For any calendar year: in which twenty-five percent (25%) of the number of members employed as of January 1 of each year are rated as either Level II or Level III in every phase of the PFT then (a) Members who are rated at Level II in all phases of the PFT will receive three hundred dollars ($300.00) in a one-time lump sum payment. (b) Members who are rated at Level III in all phases of the PFT will receive six hundred dollars ($600.00) in a one-time lump sum payment. (2) For any calendar year in which fifty percent (50%) of the number of members employed as of January 1 of each year are rated as either Level II or Level III in every phase of the PFT then: (a) Members who are rated at Level II in all phases of the PFT will receive six hundred dollars ($600.00) in a one-time lump sum payment. (b) Members who are rated at Level III in all phases of the PFT will receive nine hundred dollars ($900.00) in a one-time lump sum payment. (3) All lump sum payments referenced herein will be paid in February of the following year.

  • 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.

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