Performance Bonus Payments Sample Clauses
The Performance Bonus Payments clause establishes the conditions under which additional compensation is awarded based on the achievement of specific performance targets. Typically, this clause outlines the metrics or milestones that must be met, the calculation method for the bonus, and the timing of such payments. Its core function is to incentivize superior performance by providing financial rewards, thereby aligning the interests of the parties and motivating higher achievement.
Performance Bonus Payments. Employee shall be eligible to participate in the Company's bonus program. Commencing with the Fourth Quarter of Calendar Year 2000, Employee's target bonus will be 105%.
Performance Bonus Payments. Subject to Section 3.4, the Company shall pay the Employee a performance bonus in the amount of $195,000 in twelve (12) equal monthly installments as bonus pay (“Performance Bonus Pay”). The unpaid portion of the bonus payment due will accrue simple interest at the rate of 18%. The monthly payments shall be payable starting in March 2007 and will continue until the Performance Bonus Pay is made in full (“Performance Bonus Payment Term”). The Performance Bonus stands alone, and is in no way tied to any future Salvage Bonus that the Board of Directors may award to honor the accomplishments of the salvage team.
Performance Bonus Payments. Payments shall be based on the Final Evaluation in subsection B and shall be payable by August 31.
a. Overall Rating of Needs Improvement shall result in no Performance Bonus payment, in addition to any other sanctions authorized in this agreement.
b. Overall Rating of Meets Expectation shall result in a Performance Bonus payment equal to 3 % of the employee’s annual base pay.
c. Overall Rating of Exceeds Expectation shall result in a Performance Bonus payment equal to 3.5 % of the employee’s base pay.
d. Overall Rating of Exceptional shall result in a Performance Bonus payment equal to 4.5% of the employee’s base pay.
e. Base pay shall be calculated by multiplying the employee’s hourly wage, as of July 1, by the number of regular hours schedule to work (2184 hours for uniformed officers; 2184 hours for dispatchers; 2132 hours for investigators) and then multiplying by the appropriate bonus payment in (a) through (d) of this subsection C.
Performance Bonus Payments. A performance bonus payment will be paid to employees covered by this Agreement of up to 1.5% (before tax) on the first full pay period in July 2012 of this Agreement, subject to the achievement of the targets set out below. This bonus will become part of the base salary. Zero (0) Notification of Occurrences as per the Occupational Health, Safety and Welfare Regulations (SA), 1995. (50% value of Bonus). In the event that One (1) Notification of Occurrences as per the Occupational Health, Safety and Welfare Regulations (SA), 1995 is received, the value will reduce to 25%.
Performance Bonus Payments. (1) The Performance Bonus provided for in this Subsec- tion recognizes the principle that a continuing im- provement in the standard of living of employees depends upon technological progress, better tools, methods processes and equipment, and a coopera- tive attitude on the part of all parties in such progress. It further recognizes the principle that to produce more with the same amount of human effort is a sound economic and social objective.
Performance Bonus Payments. Within thirty (30) days after University’s intercollegiate athletics team achieves any performance goal identified below, Licensee will pay University the specified cash performance bonus amount. Licensee will pay the cash performance bonus amount to University each time a University intercollegiate athletics team achieves on of the performance goals.
Performance Bonus Payments. Sign On Bonus: Target Performance Bonus(s):
Performance Bonus Payments. 5.8.1 An individual performance bonus payment is available to employees based on the following criteria:
(a) All performance indicators shall be based on individual results and participation in the system shall be voluntary.
(b) The Bonus Payment Period will be considered as three (3) calendar months.
(c) The Performance Bonus payment shall equate to either 3%, 5% or 7%, depending on the employee’s performance results and will apply to ordinary time hours only.
(d) An individual must achieve all Performance Indicators, in order to be eligible to receive the bonus payment.
5.8.2 The percentage payments will be calculated and paid in arrears and will apply to ordinary time hours only, worked during the period for which the performance figures apply and will be inclusive of all superannuation and other taxation that applies to bonus payments.