Common use of Incentive Salary Clause in Contracts

Incentive Salary. An incentive payment is a direct payment over and above the Employee’s base salary, in an amount to be determined by the DIA subject to the approval of the University President or designee and subject to availability of funds. Employee is eligible for an incentive payment upon achieving performance criteria established by the DIA in his exclusive discretion, and which are subject to annual review and revision by the DIA. Employee will be eligible for such incentive salary payments after completing the Contract Term in which the incentive is earned. Incentive payments, if any, will be paid no later than ninety (90) days after the end the Contract Term. In order to be eligible for incentive payments under this provision, Employee must be currently employed by the University at the time that the incentive payment is due. Employee understands and agrees that incentive payments, if any, are taxable compensation to Employee and that Employee is solely responsible for the tax consequences associated therewith.

Incentive Salary. An incentive payment is a direct payment over and above the Employee’s base salary, in Employee an amount to be determined by the DIA subject to the approval of the University President or designee and subject to availability of funds. Employee is eligible for an incentive payment upon achieving performance criteria established by the DIA in his exclusive discretion, and which are subject to annual review and revision by the DIA. Employee will be eligible for such incentive salary payments after completing the Contract Term Employment Year in which the incentive is earned. Incentive payments, if any, will be paid no later than ninety (90) days after the end the of such Contract TermEmployment Year. In order to be eligible for incentive payments under this provision, Employee must be currently employed by the University at the time that the incentive payment is due. Employee understands and agrees that incentive payments, if any, are taxable compensation to Employee and that Employee is solely responsible for the tax consequences associated therewith.