Driver Bonus Program Clause Samples

Driver Bonus Program. ‌ The Company will pay an annual bonus to all drivers who go without any driver fault accidents with Company vehicles in a given insurance fiscal year (presently October 1 to September 30). The bonus will be two hundred dollars ($200.00) per year, escalating by one hundred dollars ($100.00) in each subsequent year until the driver reaches five (5) accident-free years, with a potential bonus after five (5) years of six hundred ($600.00) dollars per annum. This bonus will be paid out in December of each year to those who have qualified during the insurance fiscal year just ended. This bonus is for drivers who have had no accidents in which they are at fault, this is defined as being assessed with less than fifty per cent (50%) fault by the insurance company. Should the driver have an accident in any year in which he or she is assessed fifty per cent (50) or more fault and greater than the Company deductible, then they go back to zero for the purposes of this Bonus Program. To reach the maximum bonus, the accident- free years must be consecutive. The Company reserves the right to change the fault/no-fault percentage based on changes made by the insurance carrier from time to time. The following conditions will also apply: a) You must be employed in full-time driver status continuously during the insurance fiscal year the payout relates to. Full-time drivers are defined as drivers who have worked 1700 hours or more in the insurance fiscal year. Part-time and casual drivers do not qualify. b) A pro-rata adjustment will be made to the bonus based on hours worked. For the purposes of this calculation, hours worked will include regular hours worked, overtime hours worked, time-off for vacation, paid leaves of absence and statutory holidays. Periods of absence for occupational or non-occupational sickness or injury, unpaid leaves of absences when the employee is not being paid by the Employer, shall be excluded in determining the hours worked by an employee. A full year for the purposes of this payment will be seventeen hundred hours (1,700 hours). It is understood that if a driver fails to achieve a bonus because of a lack of qualifying hours due to absence for occupational or non-occupational sickness or injury where the employee is not paid, and he or she subsequently returns to work, their prior standing will be used to calculate for the subsequent payment levels.