INCENTIVE AND BONUS PROGRAMS Sample Clauses
The "Incentive and Bonus Programs" clause establishes the terms under which employees or contractors may receive additional compensation beyond their standard pay, based on performance or achievement of specific goals. Typically, this clause outlines eligibility criteria, the metrics or benchmarks that trigger bonuses, and the process for calculating and distributing such payments. Its core function is to motivate higher performance and align individual or team efforts with organizational objectives by providing clear, structured rewards for exceptional results.
INCENTIVE AND BONUS PROGRAMS. 3 (1) Longevity Recognition: After completing fifteen (15) continuous years of employment, 4 excluding outside credit, an employee shall receive an additional supplement of $150.00 within 5 thirty days from the fifteenth anniversary date and on the first pay period for the employee each 6 fiscal year thereafter. After completing twenty (20) continuous years of employment, excluding 7 outside experience credit, an employee shall receive an additional supplement of $700.00 within 8 thirty days from the twentieth anniversary date and on the first pay period for the employee each 9 fiscal year thereafter. After completing twenty-five (25) continuous years of employment, 10 excluding outside experience credit, an employee shall receive an additional supplement of 11 $950.00 within thirty days from the twenty-fifth anniversary date and on the first pay period for 12 the employee each fiscal year thereafter.
INCENTIVE AND BONUS PROGRAMS. The District, with input from the SPALC 44 Labor/Management Committee, will develop and implement a system for awarding all incentive and 45 bonus programs that is in compliance with applicable laws. Availability of funding may impact the 46 continuation of incentive and bonus programs.
INCENTIVE AND BONUS PROGRAMS. The District, with input from the TALC 6 Labor/Management Committee, will develop and implement a system for awarding all incentive and 7 bonus programs that is in compliance with applicable laws. Availability of funding may impact the 8 continuation of incentive and bonus programs.
INCENTIVE AND BONUS PROGRAMS. The District, with input from the TALC