ADDITIONAL INCENTIVE PAYMENTS Clause Samples

The "Additional Incentive Payments" clause establishes the terms under which extra payments, beyond standard compensation, may be awarded to a party for achieving specific performance targets or milestones. Typically, this clause outlines the criteria for earning such incentives, such as exceeding sales goals, completing work ahead of schedule, or delivering exceptional quality, and details the calculation and timing of these payments. Its core function is to motivate higher performance by providing financial rewards for surpassing agreed-upon benchmarks, thereby aligning the interests of the parties and encouraging optimal results.
ADDITIONAL INCENTIVE PAYMENTS. ‌ The Board encourages faculty unit members to maintain professional credentials pertinent to the educational specialty areas whose mastery falls within their job responsibilities. In addition to performance pay measures addressed in § 17.1, a supplement is provided to each faculty unit member who acquires and maintains certification of skills needed to work with children with hearing or vision loss and a base increase is provided in recognition of acquisition of a master’s degree relevant to the unit member’s field of expertise. 1. Each institution will annually allocate $1,000 to each faculty unit member who maintains a current national certification (CED/CCC/ACVREP). This allocation is not a part of the base salary. a. Faculty unit members who have provided proof of current certification to the superintendent within two (2) weeks of the beginning of a semester or within such additional time as circumstances, in the discretion of the superintendent may warrant, will be paid the certification supplement. Midyear or midterm certification may be recognized by the superintendent on a prorated basis.
View SourceView Similar (5)

Related to ADDITIONAL INCENTIVE PAYMENTS

  • Annual Incentive Payment The Executive shall participate in the Company's Management Incentive Plan (or such alternative, successor, or replacement plan or program in which the Company's principal operating executives, other than the Chief Executive Officer, generally participate) and shall have a targeted incentive thereunder of not less than $240,000 per year; provided, however, that the Executive's actual incentive payment for any year shall be measured by the Company's performance against goals established for that year and that such performance may produce an incentive payment ranging from none to 200% of the targeted amount. The Executive's incentive payment for any year will be appropriately pro-rated to reflect a partial year of employment.

  • Incentive Payments The Settlement Fund Administrator will treat incentive payments under Section IV.F on a State-specific basis. Incentive payments for which a Settling State is eligible under Section IV.F will be allocated fifteen percent (15%) to its State Fund, seventy percent (70%) to its Abatement Accounts Fund, and fifteen percent (15%) to its Subdivision Fund. Amounts may be reallocated and will be distributed as provided in Section V.D.

  • Incentive Payment 11.3.1 An employer may offer and an employee may accept an early retirement incentive based on the age at retirement to be paid in the following amounts Age at Retirement % of Annual Salary at Time of Retirement 11.3.2 An employer may opt to pay the early retirement incentive in three equal annual payments over a thirty-six (36) month period. 11.3.3 Eligible bargaining unit members may opt for a partial early retirement with a pro- rated incentive.

  • Additional Bonus Executive shall be eligible for such year-end bonus, which may be paid in either cash or equity, or both, as is awarded at the discretion of the Compensation Committee of the Board of Directors of the Company after consultation with the Company's Chief Executive Officer.

  • Recovery of Bonus and Incentive Compensation Any bonus and incentive compensation paid to you during a CPP Covered Period is subject to recovery or “clawback” by the Company if the payments were based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria.