Rates/Incentive Compensation Sample Clauses

Rates/Incentive Compensation. (a) When an employee is promoted, or is upgraded to higher rated work, they will receive the starting rate for the new job, except where he is already receiving a rate equal to or in excess of said starting rate. In such event, he will receive an increase sufficient to bring him to the progression step in the new job next above his old rate, but not higher than the maximum rate for the new job. As an exception to the above, if any employee has worked at the maximum rate for his classification for a period in excess of two (2) years, when promoted or upgraded to a new job in the same line of promotion he shall receive an extra pay step in the new job, if this additional step is not higher than the maximum rate for the new job. When an employee is transferred to a job in a different line of promotion, the Company will consider previous experience and qualifications in determining the appropriate step in the new job at which the employee will be placed. In cases of temporary assignment to higher rated work, the employee will revert to their old rate upon conclusion of such assignment. An employee assigned temporarily to work carrying a lower rate of pay shall have no reduction in his classification or rate of pay during such temporary assignment.
Sample 1
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Related to Rates/Incentive Compensation

  • Incentive Compensation During the Term, the Executive shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executive’s initial target annual incentive compensation shall be 40 percent of his Base Salary (the “Target Annual Incentive Compensation”). Except as otherwise provided herein, to earn incentive compensation, the Executive must be employed by the Company on the day such incentive compensation is paid.

  • Incentive Pay (1) For any calendar year: in which twenty-five percent (25%) of the number of members employed as of January 1 of each year are rated as either Level II or Level III in every phase of the PFT then

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

  • Executive Compensation Until such time as the Investor ceases to own any debt or equity securities of the Company acquired pursuant to this Agreement or the Warrant, the Company shall take all necessary action to ensure that its Benefit Plans with respect to its Senior Executive Officers comply in all respects with Section 111(b) of the EESA as implemented by any guidance or regulation thereunder that has been issued and is in effect as of the Closing Date, and shall not adopt any new Benefit Plan with respect to its Senior Executive Officers that does not comply therewith. “Senior Executive Officers” means the Company's "senior executive officers" as defined in subsection 111(b)(3) of the EESA and regulations issued thereunder, including the rules set forth in 31 C.F.R. Part 30.

  • 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.

  • Base Compensation a. The Company and the Bank agree to pay Executive during the term of this Agreement a base salary at the rate of $ per year, payable in accordance with customary payroll practices.

  • Extra Compensation 1. CTSO Advisors will be paid twenty-five ($25) per hour (capped at eight (8) hours per day) for non-discretionary CTSO activities (e.g., conferences, conventions, and competitions) involving students on days not scheduled as part of the regular school year calendar.

  • Sick Leave Incentive Program MSUAASF and Minnesota State may develop a sick leave incentive program through the establishment of a joint committee.

  • Performance Bonus If Employee's employment is terminated by Employee with cause, or by Bank without cause, Employee shall be paid, in addition to the amounts payable under Sections 3.5 and 3.6 of the Agreement: (i) all non-forfeitable deferred compensation, if any; and (ii) unpaid performance bonus payments, if any, payable under Section 4.2 of the Agreement, which shall be declared earned and payable based upon performance up to, and shall be pro-rated as of, the date of termination. Employee shall not be entitled to such unpaid performance bonus payments if Employee's employment is terminated by Bank with cause, or by Employee without cause.

  • SHIFT BONUS 7:01 A day shift shall be a shift that commences after 4:30 a.m. and at or before 10:00 a.m. on the same day.

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