Merit Bonus Program Sample Clauses

Merit Bonus Program. 23.5 a. 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.
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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. A Department Head may make a recommendation to the City Manager, as submitted through the Department of Human Resources, that an employee receive a lump sum bonus of 1-10% of their 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.
Sample 1
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.
Sample 1

Related to Merit Bonus Program

  • Bonus Program You will be eligible for an annual target bonus of 35% of your annual base salary as determined by the Board in its sole discretion based upon, among other things, the achievement of pre-determined performance milestones. Any annual bonus, if earned, shall be paid no later than March 15th of the year immediately following the year to which the applicable annual bonus relates.

  • Bonus Programs Employee may participate in any incentive program which may be made available from time to time to Corporation’s employees at Employee’s level; provided, however, that Employee’s participation is subject to the applicable terms, conditions and eligibility requirements of the program, as they may exist from time to time.

  • Incentive Bonus Plan Employee shall be eligible for a bonus opportunity of up to 65% of his annual base salary in accordance with the Company’s Incentive Bonus Plan as modified from time to time, payable in cash and/or equity of the Company (at the Company’s discretion). The bonus payment and the Company’s targeted performance shall be determined and approved by the Board or the compensation committee thereof.

  • Bonus Plan Such bonus, if any, as shall be determined upon the recommendation of the CEO by the Board (or any designated Committee of the Board comprised solely of independent directors), shall be paid in accordance with the terms and conditions of the bonus plan established for the Company (“Bonus Plan”).

  • 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.

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

  • Long-Term Incentive Compensation Subject to the Executive’s continued employment hereunder, the Executive shall be eligible to participate in any equity incentive plan for executives of the Firm as may be in effect from time to time, in accordance with the terms of any such plan.

  • Bonus Plans 21.16 A bonus is a lump sum payment that is not a permanent increase to the salary base of the individual and may be granted at the discretion of the President. A bonus may be awarded at any time and may be used for a variety of salary adjustments including, but not limited to, the following:

  • Annual Incentive Compensation (a) The Executive shall be eligible to receive annual bonus compensation, if any, as may be determined by, and based on performance measures established by, the Board of Directors upon the recommendation of the Compensation Committee of the Board of Directors (the “Committee”) consistent with the Employer’s strategic planning process and in consultation with the Executive, pursuant to any incentive compensation program as may be adopted from time to time by the Board of Directors, based on recommendations by the Committee (an “Annual Bonus”).

  • Bonus and Incentive Compensation Executive shall be entitled to equitable participation in incentive compensation and bonuses in any plan or arrangement of the Bank or the Company in which Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

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