Bonus/Stipend Programs Sample Clauses
The Bonus/Stipend Programs clause outlines the terms under which employees may receive additional compensation beyond their regular salary, such as bonuses or stipends. This clause typically specifies eligibility criteria, the calculation method for bonuses, and the timing of payments, and may cover performance-based incentives or fixed stipends for specific roles or projects. Its core function is to provide transparency and structure around extra compensation, ensuring both employer and employee understand the conditions and expectations related to such payments.
Bonus/Stipend Programs. A. Bonus/stipend programs shall be established as provided below. Such programs shall consist of one-time lump-sum payments to employees which are not re- occurring base salary increases. The funding for the Bonus/Stipend Programs was established from monies set aside ($1,112,709, inclusive of benefits) pursuant to the parties’ 2000-2003 Agreement. Upon the expiration of this Agreement, the bonus programs provided in this Agreement shall continue in effect utilizing the available funds as specifically provided in this Agreement, unless modified in accordance with HEERA. However, CSU shall not be required to provide additional funds for the bonus programs during the term of this contract or in future contracts unless such additional funds are provided in a successor collective bargaining agreement. The Parties agree to maintain the bonus/stipend programs in 23.4 of the Agreement until June 30, 2020. 4 The formula for establishing the pro rata amount payable to intermittent employees shall be established by the parties prior to the ratification of this agreement. The Parties agree that for Fiscal Years 2017/2018; 2018/2019 and 2019/2020, the Merit Bonus pool created in Fiscal years 2005/06 and Fiscal Year 2006/07 ($762,300) will be added to the monies available for the Budget Shortfall Mitigation (BSM) Bonus.
Bonus/Stipend Programs a. Bonus/stipend programs shall be established as provided in 23.7b., 23.9b.2 and 23.9c.2. Such programs shall consist of one-time lump-sum payments to employees which are not re-occurring base salary increases. An amount equal to the budgeted cost of a six tenths percent (.6%) GSI effective July 1, 2000 [10% of the total budgeted Unit 4 compensation increase pool] shall be provided to pay for the bonus/stipend programs in each year of this Agreement (FY 2000/01, 2001/02 and 2002/03). The provision of this amount shall not diminish the GSI provided in 23.3. Upon the expiration of this Agreement, the bonus programs provided in the Agreement shall continue in effect utilizing the available funds as specifically provided in this Agreement, unless modified in accordance with HEERA. However, CSU shall not be required to provide additional funds for the bonus programs unless such additional funds are provided in a successor collective bargaining agreement.
Bonus/Stipend Programs a. Bonus/stipend programs shall be established as provided in 23.7b., 23.9b.2 and 23.9c.2. Such programs shall consist of one-time lump-sum payments to employees which are not re-occurring base salary increases. An amount equal to the budgeted cost of a six tenths percent (.6%) GSI effective July 1, 2000 [10% of the total budgeted Unit 4 compensation increase pool] shall be provided to pay for the bonus/stipend programs in each year of this Agreement (FY 2000/01, 2001/02 and 2002/03). The provision of this amount shall not diminish the GSI provided in 23.3. Upon the expiration of this Agreement, the bonus programs provided in the Agreement shall continue in effect utilizing the available funds as specifically provided in this Agreement, unless modified in accordance with HEERA. However, CSU shall not be required to provide additional funds for the bonus programs unless such additional funds are provided in a successor collective bargaining agreement.