Merit Bonus Program Clause Samples
The Merit Bonus Program clause establishes a system for awarding additional compensation to employees based on their performance or achievement of specific goals. Typically, this clause outlines the criteria for eligibility, the process for evaluating performance, and the method for calculating and distributing bonuses, such as annual reviews or meeting sales targets. Its core practical function is to incentivize high performance and reward employees who contribute significantly to the organization's success, thereby promoting motivation and retention.
Merit Bonus Program. The Merit Bonus Program funds shall be dedicated to providing one-time, lump- sum bonuses awarded in recognition of above average performance on a project, recognition of one-time or special project performance, for members of a team in recognition of their performance as a team based on criteria established by the campus, above average performance in general, or other significant contributions to the campus and/or CSU community.
Merit Bonus Program. During the term of this 2020-2022 Agreement, the Board shall have the right at its sole discretion to create a merit bonus program which can financially reward selected employees of the Board. The Board in its sole discretion may develop any criteria that is utilized in such program. Further, the Board shall have the sole and final authority for all decisions and aspects of the program, including but not limited to: who if anyone receives any such bonus; the reason(s) for any such bonus given; the amount of any bonus given either individually or collectively to any employee(s); and all other details and specifics of any merit bonus program actually utilized by the Board. Any financial or economic benefit which is given to any bargaining unit member under this program shall be in addition to and not in lieu of any other rights under this Agreement. The Board shall notify the Association President no fewer than fourteen (14) days prior to any bonus being given, the following information: the name(s) of any employee(s) receiving any bonus; the amount of any bonus or financial consideration to be given any employee, and the time period within which said employee can reasonably expect to receive said bonus or financial consideration. There is no representation by the Board as to: whether any bonuses will actually be given; any specific criteria might be used; and/or the value of any bonuses that might be given. Individual employees are prohibited from approaching the District to request any bonus provided in this Section. However, the implementation of this Section shall not be deemed as individual negotiations or as any other unfair labor practice under the IELRA provided the Board or its designee initiates this process to award such bonuses. Merit bonuses awarded, if any, shall not be subject to the grievance procedure (Article IX) of this Agreement.
Merit Bonus Program. The Merit Bonus Program is designed to recognize exceptional performance within an employee’s own classification, the performance of work associated with a higher-level classification for an extended period of time, or for the execution of special projects in which an employee participates. An Appointing Authority may make a recommendation to the City Manager, as submitted through the Human Resources Office, that an employee receive a lump sum bonus of 1-10% of his/her base salary. The bonus shall not be treated as base salary and shall be in addition to any other compensation or bonuses provided by this MOU.