Budget Bonus Sample Clauses

Budget Bonus. Coach ▇▇▇▇▇▇▇▇▇▇▇ shall be entitled to additional compensation for remaining within/under his Football Program budget in a given year. In the spring of each year, the Athletics Department will work with the Football staff to determine the appropriate budget for the year. The final discretion for setting the budget shall remain with the Athletics Director. If the Football Program remains within the set budget, Coach ▇▇▇▇▇▇▇▇▇▇▇ shall earn a $25,000 bonus. If costs for the Football Program are under budget for the year by $50,000, Coach ▇▇▇▇▇▇▇▇▇▇▇ shall earn an additional $5,000 bonus. For each additional $50,000 increment that the Football Program costs are under budget, Coach ▇▇▇▇▇▇▇▇▇▇▇ will earn an additional $5,000. For example, if the Football Program is under budget by $100,000 in a given year, Coach ▇▇▇▇▇▇▇▇▇▇▇ would earn a total budget bonus of $35,000. The bonuses specified above shall be earned when each of the above events occurs. The bonuses shall be payable on or before July 15 of each academic year in which the bonuses are earned, or within 30 business days of the date the event occurs, whichever is later. Bonuses are contingent upon Coach ▇▇▇▇▇▇▇▇▇▇▇’▇ satisfactory performance of the duties and responsibilities set forth in Paragraph 2 of this Agreement and receipt of a satisfactory rules compliance evaluation from the Athletics Director or Assistant A.D. for Compliance.