Common use of Windfalls Clause in Contracts

Windfalls. A windfall is an unusual situation resulting in a change of volume of sales from that anticipated by management in setting objectives and incentives. Management will review all incentive results that are more than 200% of objective prior to payment. Management may approve or adjust the payment based on the circumstances of reaching more than 200% of objective. The adjustment would in no way result in payment of less than 100% of objective. Management reserves the right to adjust any portion of the Plan to bring the compensation in line with what it determines to be reasonable objective attainment.

Appears in 2 contracts

Sources: Collective Bargaining Agreement, General Agreement