Incentive Payout Clause Samples

Incentive Payout. Employee will also receive, dependent on the Company’s fourth quarter 2014 business results, an incentive payout, if any, calculated at the same payout factor and metrics used in 2014 for Executive Incentive Plan (“EIP”) payouts based on the Company’s fourth quarter 2014 business results. Employee will receive an incentive payout based on “actual” results on the annual MBO portion of the incentive plan. The incentive payouts, if any, will be distributed to Employee at the same time payouts are made to employees at the Company. Employee will not be eligible for any incentive payouts for periods beginning after December 31, 2014.

Incentive Payout. 25.01 The Company will pay the following Incentive Payout amount in February of 2018, 2019, 2020 and 2021. . Any full-time employee will be entitled to the incentive bonus for the previous fiscal year provided they have at least one year’s permanent seniority as of December 31st (fiscal year end). These amounts are based upon the Cost of Goods (COGS) vs. Budget in Guelph. COGS vs. Budget, $/hl 2018 Incentive (Feb 2019 Payout) 2019 Incentive (Feb 2020 Payout) 2020 Incentive (Feb 2021 Payout) 2021 Incentive (Feb 2022 Payout) > $0.50 Under budget $1200 $1200 $1200 $1200 $0.41 - $0.50 Under budget $1000 $1000 $1000 $1000 $0.31 - $0..40 Under budget $850 $850 $850 $850 $0.21 - $0.30 Under budget $650 $650 $650 $650 $0.11 - $0.20 Under budget $500 $500 $500 $500 $0.01 - $0.10 Under Budget $350 $350 $350 $350 Permanent Full-time employees with less than one (1) year of Permanent seniority as at December 31st shall have their Incentive Payout entitlement pro-rated as per Appendix E so long as they are not on probationary status at the time of payout. Full–time Supplementary employees with less than one (1) year of Permanent seniority as at December 31st shall have their Incentive Payout entitlement pro-rated as per Appendix E so long as they are not on probationary status at the time of payout. 25.02 Any employee terminated for just cause will not be entitled to any portion of the incentive payout for the fiscal year in which the termination takes place. Employees terminated after the end of the fiscal year but before the Incentive Payout date, will be eligible for the prior years incentive payout as per the dates listed in Article 25.01. An employee whose employment ceases during the fiscal year due to voluntary quit, retirement, disability or death will receive a pro-rated incentive payout for the time employed during the fiscal year when the voluntary quit, retirement, disability or death occurs. 25.03 The Incentive Payout will be paid out to employees who are on WSIB, pregnancy and parental leave or disability (for periods less than two (2) years).

Incentive Payout. 25.01 The Company will pay the following Incentive Payout amount in February of 2022, 2023, and 2024. Any full-time employee will be entitled to the incentive bonus for the previous fiscal year provided they have at least one year’s permanent seniority as of December 31st (fiscal year end). These amounts are based upon the Cost of Goods (COGS) vs. Budget in Guelph. Permanent Full-time employees with less than one (1) year of Permanent seniority as at December 31st shall have their Incentive Payout entitlement pro-rated as per Appendix E so long as they are not on probationary status at the time of payout. 25.02 Any employee terminated for just cause will not be entitled to any portion of the incentive payout for the fiscal year in which the termination takes place. Employees terminated after the end of the fiscal year but before the Incentive Payout date, will be eligible for the prior years incentive payout as per the dates listed in Article 25.01. An employee whose employment ceases during the fiscal year due to voluntary quit, retirement, disability or death will receive a pro-rated incentive payout for the time employed during the fiscal year when the voluntary quit, retirement, disability or death occurs. 25.03 The Incentive Payout will be paid out to employees who are on WSIB, pregnancy and parental leave or disability (for periods less than two (2) years).

Incentive Payout. ▇▇. ▇▇▇▇▇ will also receive, dependent on the Company’s fourth quarter 2015 business results, an incentive payout, if any, calculated at the same payout factor and metrics used in 2015 for Executive Incentive Plan (“EIP”) payouts based on the Company’s fourth quarter 2015 business results. ▇▇. ▇▇▇▇▇ will also receive an incentive payout based on “actual” results on the annual MBO portion of the incentive plan. The incentive payouts, if any, will be distributed to ▇▇. ▇▇▇▇▇ at the same time payouts are made to executives at the Company. ▇▇. ▇▇▇▇▇ will not be eligible for any incentive payouts for periods beginning after December 31, 2015.

Incentive Payout