INCENTIVE BONUS PROGRAM TABLE Sample Clauses
The Incentive Bonus Program Table clause defines the structure and terms of a bonus system designed to reward employees or contractors for achieving specific performance targets. Typically, this clause outlines the criteria for earning bonuses, such as sales milestones, project completion dates, or quality benchmarks, and specifies the corresponding bonus amounts or percentages. By clearly detailing how and when bonuses are awarded, this clause motivates desired behaviors and ensures transparency in compensation, reducing misunderstandings and disputes over incentive payments.
INCENTIVE BONUS PROGRAM TABLE. Incentive bonuses will be calculated using the following Table, with the following target bonuses, where the Corporate Balanced Scorecard Results meet the Individual Evaluation Results (see table): 2014 – a target bonus of two percent (2%) 2015 – a target bonus of two percent (2%) 2016 – a target bonus of two and one half percent (2.5%) Individual Evaluation Results Corporate Balanced Scorecard Results 1-1.5 Not met 1.6-2.5 Partially met 2.6-3.5 Met 3.6-4.5 Exceeded 4.6-5.0 Significantly Exceeded