PERFORMANCE BONUS PROGRAM Sample Clauses
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PERFORMANCE BONUS PROGRAM. A. The parties agree that Engineers represented by the Brotherhood of Locomotive Engineers and Trainmen (BLET) will be eligible for a bonus payment under the Performance Bonus Program (PBP) established in this Agreement for the periods and on the basis set forth below:
1. Effective January 1, 2007 and payable in 2008, locomotive Engineers will be eligible for a bonus up to a maximum of six percent (6%) of their locomotive Engineer earnings in 2007, calculated in accordance with paragraph B below.
2. Effective January 1, 2008 and payable in 2009, locomotive Engineers will be eligible for a bonus up to a maximum of eight percent (8%) of their locomotive Engineer earnings in 2008, calculated in accordance with paragraph B below.
3. Effective January 1, 2009 and payable in 2010, locomotive Engineers will be eligible for a bonus up to a maximum of ten percent (10%) of their locomotive Engineer earnings in 2009, calculated in accordance with paragraph B below.
4. If the BLET does not exercise its right to cancel participation in the Bonus Program under paragraph F below, all locomotive Engineers will be eligible, effective January 1, 2010 and annually thereafter, for a bonus of twelve percent (12%) in 2010 and increasing to fifteen percent (15%) at the end of the next contract of their locomotive Engineer earnings in that year, payable in the following year, calculated in accordance with paragraph B below, except that locomotive Engineers who achieve a BLET seniority date on or after January 1, 2010 will be eligible in 2010 for this bonus up to a maximum of ten percent (10%) of their locomotive Engineer earnings in 2010, calculated in accordance with paragraph B below, with a one percent (1%) increase in that level each subsequent year until they reach a maximum level negotiated for locomotive Engineers. Locomotive Engineers who achieve a BLET seniority date by December 31 of a year after 2010 will also be eligible for a bonus up to a maximum of ten percent (10%) of their locomotive earnings in that year, calculated in accordance with paragraph B below, with a one percent (1%) increase in that level each subsequent year until they reach a maximum level of fifteen percent (15%). As indicated in paragraphs A (1) - (3) above, a locomotive Engineer will not be eligible for a bonus for any year in which the locomotive engineer has not achieved a BLET seniority date by December 31 of that year.
B. 1. Locomotive Engineers covered by this Agreement who are eligible to r...
PERFORMANCE BONUS PROGRAM. In the spirit of co-operation, the Union and Company agree to work together to ensure the success of the factory. The Company will endeavor to effectively manage the business which includes providing the necessary materials and tools to meet the objectives of the factory. The Union will participate in Nestlé Canada Goals training, provide ideas and support improvements in the plant. Recognizing the Union=s commitment to this program, the Company will provide a bonus plan: All full time employees shall be entitled to receive the Nestlé Bonus to a maximum of four percent (4%) of eligible earnings if the measurement criteria are exceeded. That is the program must make money before it can pay out. A joint committee will be formed to develop the program with the above criteria as the basic measurement tools. The committee will meet to fully develop the plan. The plan that is developed will be sent to the Senior VP Human Resources, Senior VP Technical & Manufacturing, and the President, Ice Cream for final approval.
PERFORMANCE BONUS PROGRAM. During each calendar year of the term of the collective agreement, regular employees will be eligible to receive a performance bonus based upon the corporate performance component of the Progistix Management, Technical and Administrative Program. Employee eligibility is as follows:
PERFORMANCE BONUS PROGRAM. Holdco 2 shall cause Canco 2 to establish and implement a performance bonus program for the benefit of, inter alia, Impark Management on the terms set forth in Schedule D.
PERFORMANCE BONUS PROGRAM. Executive shall participate in the calendar year 1997 performance bonus program to be established by the Company prior to January 31, 1997 in accordance with performance parameters to be set by the Compensation Committee of the Employer's Board of Directors. The program will provide the opportunity for Executive to earn a maximum cash bonus of $30,000 for performance during calendar 1997, payable by March 31, 1998. Such bonus shall not vest or become payable if this Agreement has been terminated by Executive other than pursuant to Section 5.1.a. (iv) (in connection with a "change of control of the Company") or by Employer for Cause (hereafter defined) prior to December 31, 1997. Receipt of compensation under the performance bonus program shall not preclude Executive from receiving additional bonus or incentive compensation granted in accordance with Company programs or in the discretion of the Board of Directors.
PERFORMANCE BONUS PROGRAM. The Company will pay employees a performance bonus in the amounts described below upon the achievement of specified targets by employees in the bargaining unit. The criteria for bonus for hourly employees will be linked to the management bonus system. The bonus shall be paid in a lump sum monthly, if payable and shall be earnable each calendar month. The Company may pay a portion of the bonus in any month and any portion of a monthly not earned may not be earned in a subsequent month. The monthly bonus shall be calculated by multiplying actual hours worked in the month (maximum of 195 hours worked per month) by the appropriate hourly bonus rate (or part thereof.) The first calendar month to be measured for purposes of the Program will end on April 30, 2019. 2019 2020 2021 2022 2023 2024 Grandfathered Seniority Pre-1991 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 Grandfathered Seniority Post-2000 $2.50 $2.50 $2.50 $2.50 $2.50 $2.50 Regular Seniority $2.30 $2.30 $2.30 $2.30 $2.30 $2.30 Standard Employees $1.60 $1.60 $1.60 $1.60 $1.60 $1.60 The Company and Union agree that notwithstanding any other provision in the collective agreement, no grievances shall be filed, processed or arbitrated concerning any aspect of the Performance Bonus Program since any disagreements concerning the Program do not constitute a difference between the parties for purposes of the collective agreement and the Labour Relations Act. The Company and Union will meet at least quarterly in each year to discuss the operation of the Bonus Program.
PERFORMANCE BONUS PROGRAM. The Corporation shall establish and implement a performance bonus program for the benefit of, inter alia, Impark Management on the terms set forth in Schedule F.