Driver Bonus Program Sample Clauses

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:
Sample 1
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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
Sample 1

Related to Driver Bonus Program

  • Bonus The Executive shall be eligible for Bonuses determined by the Board.

  • Performance Bonus If Employee's employment is terminated by Employee with cause, or by Bank without cause, Employee shall be paid, in addition to the amounts payable under Sections 3.5 and 3.6 of the Agreement: (i) all non-forfeitable deferred compensation, if any; and (ii) unpaid performance bonus payments, if any, payable under Section 4.2 of the Agreement, which shall be declared earned and payable based upon performance up to, and shall be pro-rated as of, the date of termination. Employee shall not be entitled to such unpaid performance bonus payments if Employee's employment is terminated by Bank with cause, or by Employee without cause.

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • 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

  • Incentive Program Members who are rated as either Level I, Level II or Level III in every phase of the Physical Fitness Test are eligible to participate in the Incentive Program.

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