Common use of Continuous Improvement Incentive Clause in Contracts

Continuous Improvement Incentive. The Continuous Improvement Incentive shall be an amount between 0 and 1 percent of Base Salary each year. The adjustment shall be determined by the ERRC for each Division based on that Division meeting or exceeding its targets for quality, productivity, safety and cost reduction (0.25 percent increase for meeting each target). The Continuous Improvement Incentive will be paid out in the form of an annual lump sum payment. Should the ERRC determine otherwise, the Continuous Improvement Incentive for a Division may be paid out using pro-rated lump sum installments throughout the year (e.g. quarterly, bi-annually), conditional upon the applicable Continuous Improvement metrics being achieved during the period under review. Continuous improvement metrics shall be consolidated on a Division-wide basis. Targets for each continuous improvement metric shall be adjusted annually based on actual annual performance for that metric from the prior year, as well as current operational requirements.

Continuous Improvement Incentive. The Continuous Improvement Incentive shall be an amount between 0 and 1 percent of Base Salary each year. The adjustment shall be determined by the ERRC for each Division based on that Division meeting or exceeding its targets for quality, productivity, safety and cost reduction (0.25 percent increase for meeting each target). The Continuous Improvement Incentive will be paid out in the form of an annual lump sum payment. Should the ERRC determine otherwise, the Continuous Improvement Incentive for a Division may be paid out using pro-rated lump sum installments throughout the year (e.g. quarterly, bi-annually), conditional upon the applicable Continuous Improvement metrics being achieved during the period under review. 11/147/173 Continuous improvement metrics shall be consolidated on a Division-wide basis. Targets for each continuous improvement metric shall be adjusted annually based on actual annual performance for that metric from the prior year, as well as current operational requirements.