PERFORMANCE SHARING Sample Clauses

PERFORMANCE SHARING. Performance sharing is intended to recognize that, through the Labor Management Partnership, employees and their unions have a greater opportunity to impact organizational performance, and employees, therefore, should have a greater opportunity to share in performance gains. The parties support the Labor Management Partnership Performance Sharing Program (LMP PSP) as a way to continue the transformation of the organization, through Partnership, to a high- performing organization and to share the success of the organization with employees covered by this Agreement. The Strategy Group will be accountable for the LMP PSP. The Strategy Group may, but is not required to, establish national factors each year that will be included in all regional and local programs, together with regional and local factors. The PSP goals will be aligned with national, regional, facility and unit goals. The PSP goals will be based on the principle of “line of sight” as much as possible. As in the 2008 Reopener Settlement, the regions may continue to pilot PSP demonstration projects during the life of this agreement with the emphasis on achieving simplicity, ease of administration and alignment with organizational and Partnership goals. Relevant sections of the 2008 Reopener Settlement are found in Exhibit 2.A.2. The Strategy Group appointed a PSP Design Team charged with reviewing the 2005 Performance- Based Pay BTG recommendations and making improvements to the LMP PSP. The PSP National Design Team produced and submitted recommendations to the LMP Strategy Group in April 2010. The document informed the 2010 national bargaining Common Issues Committee (CIC) PSP Subgroup and resulted in new language. The PSP National Design Team recommendations are retained and available through the national office of the LMP. This will provide employees a “line of sight” between their performance and the success of Xxxxxx Permanente through development of local programs under the LMP PSP. Performance sharing is over and above base wage rates and will be based on mutually agreed-to performance factors and targets. The LMP PSP is self-funded through operating margin. Performance targets will be set by region or national function and may be based on quality, service, financial performance or other mutually acceptable factors. If targets are met, performance sharing opportunities will be as shown below for each year the Agreement is in effect. All amounts will be based on total payroll for employees c...
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PERFORMANCE SHARING. Performance sharing is intended to recognize that, through the Labor Management Partnership, employees and their unions have a greater opportunity to impact organizational performance, and employees, therefore, should have a greater opportunity to share in
Sample 1Sample 2
PERFORMANCE SHARING. Performance Sharing is intended to recognize that, through the Labor Management Partnership, employees and their Unions have a greater opportunity to impact organizational performance and employees should, therefore, have a greater opportunity to share in any performance gains. Performance Sharing is over and above base wage rates and will be based on mutually-agreed-to performance factors and targets. Performance targets will be set by Region and may be based on quality, service, financial performance or other mutually acceptable factors. If targets are met, Performance Sharing opportunities will be as shown below. All amounts will be based on total payroll for employees covered by the Partnership in each Region: Year 3-1% payout at target to be paid out in First Quarter 2003, based on 2002 performance Year 4-2% payout at target to be paid out in First Quarter 2004, based on 2003 performance Year 5-3% payout at target to be paid out in First Quarter 2005, based on 2004 performance The National Performance Sharing Program is dependent and based on the implementation of Partnership structures and processes that empower employees to have an impact on the program’s targeted factors. To afford employees a reasonable opportunity to earn the above Years 3, 4 or 5 payouts, Partnership structures and processes must reach critical thresholds to support the program. Further, the factors used must be measurable against mutually agreed upon predetermined targets. The resources for the National Performance Sharing Program will be achieved through enhanced organizational performance. As the Labor Management Partnership continues to grow and evolve, an important element is to ensure that employees share in the success of the organization as enhanced performance is achieved through the Partnership. Specifically, all Partnership employees will participate in a National Performance Sharing Program, which provides an annual cash bonus based upon Regional performance in the areas of quality, service, financial health and other mutually acceptable factors. To that end, during the first quarter of 2001, the Strategy Group shall appoint a joint Labor Management Partnership Work Group to develop a National Performance Sharing Program. The jointly designed Program will reward partnership employees for reaching mutually agreed upon Regional targets. In developing the new National Performance Sharing Program, the design Work Group will adhere to the following agreements reached duri...
Sample 1
PERFORMANCE SHARING. Performance Sharing is intended to recognize that, through the Labor Management Partnership, employees and their unions have a greater opportunity to impact organizational performance, and employees, therefore, should have a greater opportunity to share in performance gains. The parties support the Labor Management Partnership Performance Sharing Program (LMP PSP) as a way to continue the transformation of the organization, through Partnership, to a high-performing organization and to share the success of the organization with employees covered by this Agreement. The Strategy Group will be accountable for the LMP PSP. The Strategy Group may, but is not required to, establish national factors each year that will be included in all regional and local programs, together with regional and local factors. The PSP goals will be aligned with national, regional, facility and unit goals. The PSP goals will be based on the principle of “Line of Sight” as much as possible. As in the 2008 Reopener Settlement, the regions may continue to pilot PSP demonstration projects during the life of this agreement with the emphasis on achieving simplicity, ease of administration and alignment with organizational and Partnership goals. Relevant sections of the 2008 Reopener Settlement are found in Exhibit
Sample 1
PERFORMANCE SHARING. Performance sharing is intended to recognize that, through the Labor Management Partnership, employees and their unions have a greater opportunity to impact organizational performance, and employees, therefore, should have a greater opportunity to share in performance gains. (See Exhibit 2.A.2) The parties support the Labor Management Partnership Performance Sharing Program (LMP PSP) as a way to continue the transformation of the organization, through Partnership, to a high- performing organization and to share the success of the organization with employees covered by this Agreement. The Strategy Group will be accountable for the LMP PSP. The Strategy Group may, but is not required to, establish national factors each year that will be included in all regional and local programs, together with regional and local factors. The PSP goals will be aligned with national, regional, facility and unit goals. The PSP goals will be based on the principle of “line of sight” as much as possible. Regional PSP goals must include Quality, Affordability, Service, Workplace Safety, and Attendance. It is recommended that the Attendance goal be measured at the individual level. Performance sharing is over and above base wage rates and will be based on mutually agreed-to performance factors and targets. The LMP PSP is self-funded through operating margin. Performance targets will be set by region or national function. Regional PSP goals must include quality, affordability, service, workplace safety, and attendance. If targets are met, performance sharing opportunities will be as shown below for each year the Agreement is in effect. All amounts will be based on total payroll for employees covered by the Partnership in each region or national function. The 3 percent payout is a calculation based on total represented payroll by region or national function. A full explanation is contained later in this section. o Year 1—3 percent payout at target to be paid out in First Quarter 2019, based on 2018 performance. o Year 2—3 percent payout at target to be paid out in First Quarter 2020, based on 2019 performance. o Year 3—3 percent payout at target to be paid out in First Quarter 2021, based on 2020 performance. The LMP PSP depends on Partnership structures and processes that empower employees to have an impact on the program’s targeted factors. To afford employees a reasonable opportunity to earn the annual payouts, Partnership structures and processes must achieve critical thresholds...
Sample 1
PERFORMANCE SHARING. On such date as any employee of the Company first receives payment under the Performance Sharing Plan for the February 1 through July 31, 2001 Performance Period, Company will pay to you the amount equal to your performance sharing payment.
Sample 1
PERFORMANCE SHARING. As specified in the National Agreement, a Performance Sharing Plan will be developed and instituted with potential payouts in 2007, 2008, 2009, 2010, and 2011. The parties have agreed that calculations for payouts will be based upon actual compensated hours during the previous year.
Sample 1
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Related to PERFORMANCE SHARING

  • Performance Share Awards On the Performance Share Vesting Date next following the Executive's date of death, the number of Performance Shares that shall become Vested Performance Shares shall be determined by multiplying (a) that number of shares of Company Common Stock subject to the Performance Share Agreement that would have become Vested Performance Shares had no such termination occurred; provided, however, in no case shall the number of Performance Shares that become Vested Performance Shares exceed 100% of the Target Number of Performance Shares set forth in the Performance Share Agreement, by (b) the ratio of the number of full months of the Executive's employment with the Company during the Performance Period (as defined in the Performance Share Agreement) to the number of full months contained in the Performance Period. Vested Common Shares shall be issued in settlement of such Vested Performance Shares on the Settlement Date next following the Executive’s date of death.

  • Performance Share Award If your Award includes a Performance Share Award, and you voluntarily terminate your employment prior to the end of the Performance Period, you will forfeit your entire Performance Share Award. 

  • Performance Share Units The Committee may, in its discretion, grant to Executive performance share units subject to performance vesting conditions (collectively, the “Performance Units”), which shall be subject to restrictions on their sale as set forth in the Plan and an associated Performance Unit Grant Letter.

  • Performance Stock Units The Company may grant to Executive performance stock units (“PSUs”) pursuant to the Incentive Plan. All PSUs are subject to and conditioned on approval of the grant and its terms by the Board. All granted PSUs shall vest as provided in the applicable PSU grant notice and grant agreement (“PSU Agreement”). All PSUs shall be subject to the terms and conditions of the Incentive Plan and a PSU Agreement in a form prescribed by the Company, which Executive must sign as a condition to receiving the PSUs.

  • Performance Award You are hereby awarded, on the Grant Date, a Performance Award with a target value of [AMOUNT].

  • Performance Units Subject to the limitations set forth in paragraph (c) hereof, the Committee may in its discretion grant Performance Units to any Eligible Person and shall evidence such grant in an Award Agreement that is delivered to the Participant which sets forth the terms and conditions of the Award.

  • Performance Shares The Performance Shares earned by the Grantee will be determined and delivered to the Grantee as soon as practicable subsequent to the determination of the Corporation’s financial results for the Performance Cycle and approval by the Plan Administrator. The corresponding shares of the Corporation’s common stock will be purchased on the open market.

  • Cash Award Subject to Section 2 and provided that you are employed by the Company or one of its affiliates on each applicable payment date set forth below, the Company shall pay you the Cash Award at the following times: (i) one-third (1/3) of the Cash Award on the Closing Date, (ii) one-third (1/3) of the Cash Award on the first anniversary of the Closing Date and (iii) the remaining one-third (1/3) of the Cash Award on the second anniversary of the Closing Date.

  • Performance Awards With respect to any Performance Award, the length of any Performance Period, the Performance Goals to be achieved during the Performance Period, the other terms and conditions of such Award, and the measure of whether and to what degree such Performance Goals have been attained will be determined by the Board.

  • Incentive Award The three (3) year rolling average of earnings growth and Return On Equity (the "XXX") and determined as of December 31 of each plan year shall determine the Director's Incentive Award Percentage, in accordance with the attached Schedule A. The chart on Schedule A is specifically subject to change annually at the sole discretion of the Company's Board of Directors. The Incentive Award is calculated annually by taking the Director's Annual Fees for the Plan Year in which the XXX and Earnings Growth was calculated times the Incentive Award Percentage.

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