Performance Compensation Clause Samples
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Performance Compensation. The City acknowledges that each of the uniformed forces performs an important service that reflects the diverse missions of the City’s uniformed agencies. In order to reward service of an outstanding, exceptional nature, each of the uniformed agencies will establish a performance compensation program to recognize and reward such service, tailored to the unique missions of the individual uniformed agency. The parties agree that additional compensation may be paid to employees performing outstanding, exemplary, difficult and/or unique assignments. The City will notify and discuss with each affected union of its intent to pay such additional compensation and the individuals to be compensated. The criteria for the granting of performance-based compensation shall be based upon outstanding performance in the work assigned, and/or performance of unique and difficult work. The performance-based compensation payments provided for in this section shall be one-time, non-recurring cash payments subject to applicable pension law. An employee can receive no more than one payment annually. This provision shall not affect any existing productivity programs covered in any existing collective bargaining agreements. Nor shall this provision be construed to waive any obligation of the City to negotiate over future productivity programs as required by applicable law.
Performance Compensation a. The Union acknowledges the right of The City University of New York to pay additional compensation for outstanding performance.
b. The City University of New York agrees to notify the Union of its intent to pay such additional compensation.
Performance Compensation. There will be no performance compensation for the term of this contract, except by board approval, and at the Board’s sole discretion.
Performance Compensation. Employee will be eligible to receive an annual bonus of a minimum of 10% and a maximum of 100% of the then applicable base salary, less applicable withholding taxes, upon achievement of annual performance objectives to be determined in good faith by the Compensation Committee or the Board and the Employee, which objectives for the first year of this Agreement will be established within thirty (30) days of the Effective Date. Objectives for subsequent years will be determined as set forth herein within thirty (30) days of each anniversary of this Agreement. Bonus payments will be paid to the Employee not later than thirty (30) days following achievement of annual performance objectives, but in no event later than thirty (30) days following each anniversary of this Agreement. At the option of the Employee, such bonus payments may be paid in cash or in shares of common stock of the Company at the fair market value on the date the bonus is earned.
Performance Compensation. The Union acknowledges the Employer’s right to pay additional compensation for outstanding performance. The Employer agrees to notify the Union of its intent to pay such additional compensation.
Performance Compensation. The maximum amount of your Performance Compensation will depend on the level at which the Performance Goals are satisfied. For fiscal year 2000 ("Performance Period"), this amount will not exceed the lesser of 2,000,000 or 2% of pre-tax, pre-incentive earnings. The Committee will evaluate performance under one or more of three specific performance elements: after tax net earnings, net margin, and return on equity relative to return of the comparator peer group. The Performance Compensation and Performance Goals under which the 1999/00 Performance Award will be made are set forth on the attached performance goals spreadsheet. If the Performance Goal or Goals are satisfied during the Performance Period, you will be entitled to receive the Performance Compensation provided by this paragraph, subject to the discretionary adjustment provisions of paragraph 2. If the Performance Goal evaluation is not satisfied at the minimum level, you will not be entitled to receive any performance-based compensation. Your Performance Compensation, if any, will be paid to you as soon as administratively feasible following the date the Committee certifies that the Performance Goals for the Performance Period have been satisfied.
Performance Compensation. Employee will be eligible to receive an annual bonus, less applicable withholding taxes, upon achievement of annual performance objectives to be determined by the Board and Employee, which such objectives for the first year of this Agreement will be established within thirty (30) days of the Effective Date. Objectives for subsequent years will be determined as set forth herein within thirty (30) days of each anniversary of this Agreement.
Performance Compensation. The Executive will be eligible to receive an annual bonus of a minimum of 50% and a maximum of 100% of the then applicable Base Salary, less applicable withholding taxes, upon achievement of annual performance objectives to be determined in good faith by the Compensation Committee or the Board and the Executive, which objectives for the first year of this Agreement will be established within thirty (30) days of the Effective Date. Objectives for subsequent years will be determined as set forth herein within thirty (30) days of each anniversary of this Agreement. Bonus payments will be paid to the Employee not later than thirty (30) days following achievement of annual performance objectives, but in no event later than thirty (30) days following each anniversary of this Agreement.
Performance Compensation. Executive will receive ten percent (10%) of the Company's annual profits, payable within four (4) months of the end of each of the Company's fiscal years ending within the term of this Agreement. For the purposes of this Agreement "Profits" shall be an amount equal to the Company's net income before income taxes for the employment year in question, determined in accordance with generally accepted accounting principles plus any amounts deducted by the Company during the relevant year for depreciation of property and equipment or interest expense, less any nonrecurring or infrequent items (e.g. sale of property or equipment) which increased net income before income taxes, plus any nonrecurring or infrequent items which increased net income before income taxes.
Performance Compensation. Executives Performance Compensation shall be a quarterly bonus equal to 0.04 times the annualized Consolidated Company EBITDA, the total then being divided by four (4), as of the end of each full quarter and based on the reviewed financial statements (“Performance Bonus”). Performance Bonus shall be paid within 15 calendar days after the close of the quarter and will be subject to standard withholdings and deductions and shall be paid in accordance with the customary payroll practices and procedures of the Company.