ESSIP definition

ESSIP means Anvil’s executive and senior staff incentive plan that the Anvil Board adopted in July 2008 and amended in July 2011;
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ESSIP means Anvil’s Executive and Senior Staff Incentive Plan
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Examples of ESSIP in a sentence

  • The performance period will run on an annual cycle (January to December) with quarterly cycles as follows: • Quarter 1 – January to March • Quarter 2 – April to June • Quarter 3 – July to September • Quarter 4 – October to December The ESSIP payment calculation will be 15% of an employee’s regular straight time earnings up to a quarterly maximum of 500 hours at their regular rate of pay as at the end of the quarter, multiplied by the Company Performance Factor.

  • The ESSIP payment is subject to an annual maximum of $16,000 per year per active employee.

  • The Emergency Services and Security Incentive Program (ESSIP) is meant to recognize an employee’s contribution towards the success of the company based on pre-approved performance metrics as required by senior management and approved by the Stelco Board of Directors for a set performance period.