Common use of Merit Bonus Clause in Contracts

Merit Bonus. An annual merit bonus of up to three point thirty-three percent (3.33%) of the Business Administrator/Board Secretary’s base salary may be provided to the Business Administrator/Board Secretary, based upon his achievement of one (1) quantitative merit criterion. Said bonus, if earned, will not be added to his base salary for computation of the following year’s salary. i. On or before September 30, 2019, the parties shall meet to develop and mutually agree upon the criterion upon which the bonus should be based and the data that forms the basis of measuring the achievement of the criterion. Prior to adoption by the Board, the criterion shall be submitted to the Executive County Superintendent for prior approval. In the event the Executive County Superintendent disapproves the criterion, the parties shall agree on a new one and re-submit for approval. Once the criterion has been approved by the Executive County Superintendent and the Board, same shall become part of this Contract of Employment and incorporated by reference herein. ii. The determination as to whether the criterion has been satisfied will be made by a majority of the full Board by no later than June 30, 2020, unless for reasons beyond the Board’s control said determination cannot be made by that date. In those cases, the parties will mutually agree on a new date. The Board shall pass a resolution identifying that the criterion has been satisfied by the Business Administrator/Board Secretary. The Board’s determination shall be final and binding. The Board shall submit the resolution to the Executive County Superintendent and shall await a confirmation of the satisfaction of that criterion from the Executive County Superintendent prior to payment of the merit bonus. The Business Administrator/Board Secretary shall receive payment for a successfully achieved merit goal within thirty (30) days of the Board’s receipt of the Executive County Superintendent approval of same, or as soon thereafter as practical. In addition, the Board’s obligation to pay the Business Administrator/Board Secretary for an earned merit bonus shall survive the termination of this Contract of Employment.

Merit Bonus. An annual merit bonus of up to three fourteen point thirtyninety-three nine percent (3.3314.99%) of the Business Administrator/Board SecretarySuperintendent’s base salary may be provided to the Business Administrator/Board SecretarySuperintendent, based upon his her achievement of one three (13) quantitative merit criterioncriteria, worth 3.33% each, and two (2) qualitative merit criteria, worth 2.5% each. Said bonus, if earned, will not be added to his her base salary for computation of the following year’s salary. i. (i) On or before September 30, 2019July 15 of each year of this contract, the parties shall meet to develop and mutually agree upon the criterion criteria upon which the bonus should be based for the succeeding contract year. The criteria shall be incorporated into this contract by reference and the data that forms the basis of measuring the achievement of the criterionattached as an exhibit. Prior Pursuant to adoption by the BoardCode, the criterion criteria shall be submitted annually to the Executive County Superintendent for prior approvalwho shall be required to approve same. In the event the Executive County Superintendent disapproves the any criterion, the parties shall agree on a new one and re-submit resubmit it for approval. Once the criterion has been approved by the Executive County Superintendent and the Board, same shall become part of this Contract of Employment and incorporated by reference herein. (ii. ) The determination as to whether any or all of the criterion has criteria have been satisfied will be made by a majority of the full Board by no later than August 30 of 2017, 2018 and by June 30, 20202019, unless for reasons beyond the Board’s control said determination cannot be made by that date. The Board’s determination shall be final and binding. In those cases, the parties will mutually agree on a new datedate(s). The Board shall pass a resolution identifying that the which quantitative merit and/or qualitative merit criterion has have been satisfied by the Business Administrator/Board Secretary. The Board’s determination shall be final and bindingSuperintendent during the previous year. The Board shall submit the resolution to the Executive County Superintendent and shall await a confirmation of the satisfaction of that criterion from the Executive County Superintendent prior to payment of the merit bonus. The Business Administrator/Board Secretary shall receive If a bonus is earned, payment for a successfully achieved merit goal will be payable within thirty fourteen (3014) business days of the Board’s receipt of approval by the Executive County Superintendent approval of same, or as soon thereafter as practical. In addition, the Board’s obligation to pay the Business Administrator/Board Secretary for an earned merit bonus shall survive the termination of this Contract of Employmentin accordance with Code.

Merit Bonus. An annual merit bonus of up to nine point sixteen percent (9.16%) of the Assistant Superintendent’s base salary may be provided to the Assistant Superintendent, based upon his achievement of two (2) quantitative merit criterion worth three point thirty-three percent (3.33%) of the Business Administrator/Board Secretary’s base salary may be provided to the Business Administrator/Board Secretary, based upon his achievement of each and one (1) quantitative qualitative merit criterioncriterion worth two point five percent (2.5%). Said bonus, if earned, will not be added to his base salary for computation of the following year’s salary. i. On or before September 30, 2019, the parties shall meet to develop and mutually agree upon the criterion criteria upon which the bonus should be based and the data that forms the basis of measuring the achievement of the criterioncriteria. Prior to adoption by the Board, the criterion criteria shall be submitted to the Executive County Superintendent for prior approval. In the event the Executive County Superintendent disapproves the any criterion, the parties shall agree on a new one and re-submit for approval. Once the criterion criteria has been approved by the Executive County Superintendent and the Board, same shall become part of this Contract of Employment and incorporated by reference herein. ii. The determination as to whether any or all of the criterion has criteria have been satisfied will be made by a majority of the full Board by no later than June 30, 2020, unless for reasons beyond the Board’s control said determination cannot be made by that date. In those cases, the parties will mutually agree on a new date. The Board shall pass a resolution identifying that the criterion has which criteria have been satisfied by the Business Administrator/Board SecretaryAssistant Superintendent. The Board’s determination shall be final and binding. The Board shall submit the resolution to the Executive County Superintendent and shall await a confirmation of the satisfaction of that criterion criteria from the Executive County Superintendent prior to payment of the merit bonus. The Business Administrator/Board Secretary Assistant Superintendent shall receive payment for a successfully achieved merit goal goals within thirty (30) days of the Board’s receipt of the Executive County Superintendent approval of same, or as soon thereafter as practical. In addition, the Board’s obligation to pay the Business Administrator/Board Secretary Assistant Superintendent for an earned merit bonus shall survive the termination of this Contract of Employment.