Merit Compensation definition

Merit Compensation. The Superintendent shall receive an annual merit compensation bonus based upon his performance $500 if he is rated Highly Effective on his annual evaluation. The Superintendent shall receive $250 if he is rated Effective on his annual evaluation. The Superintendent shall not receive any bonus if he is rated Minimally Effective or Ineffective on his annual evaluation.
View Source

Examples of Merit Compensation in a sentence

  • Must complete one item from each of the three categories below (Enrichment, Partnerships, and Student Support) to qualify for the initial Merit Compensation of $5,000 After the initial Merit Compensation, additional allocations can be earned under the Enrichment and Student Support categories as noted below.

  • In each of the years of this Agreement, there shall be a Merit Compensation Program available to all employees in the bargaining unit with at least one (1) year of service as of July 1st of the year of award.

  • Employee shall be entitled to receive Merit Compensation based on Employee's and the Company's performance during the preceding year as determined by the Chairman of the Board and the Board of Directors.

  • On and after the Effective Time, until changed in accordance with the Articles of Incorporation and Bylaws of the Surviving Bank, (i) the directors of the Surviving Bank shall be the directors of CharterBank immediately prior to the Effective Time and (ii) the officers of the Surviving Bank shall be the officers of CharterBank immediately prior to the Effective Time.

  • Said Merit Compensation for Educational Achievement payments shall be made in accordance with the same terms and procedures as contained in the Articles of Agreement by and between the Hellertown Regular Police Force and the Borough of Hellertown and shall be paid in installments allocated throughout the regular payroll periods as part of base compensation.

  • In the event Employee terminates his employment prior to the last day of the calendar year, this Merit Compensation shall cease to be paid, in the manner as any regular compensation shall cease to be paid.

  • Employee shall be entitled to receive Merit Compensation based on the Employee's and the Company's performance during the preceding year as determined by the Chairman of the Board and the Board of Directors.

  • In each of the years of this Agreement, there shall be a Merit Compensation Program available to all employees in the bargaining unit with at least one (1) year of service as of July 1 of the year of award.