PERFORMANCE-BASED PAY PLAN Clause Samples
A Performance-Based Pay Plan clause establishes a compensation structure where an employee's pay is directly linked to their achievement of specific performance targets or objectives. Typically, this clause outlines the metrics or benchmarks that must be met, such as sales quotas, project milestones, or quality standards, and details how bonuses or incentive payments are calculated based on these results. The core function of this clause is to motivate employees to meet or exceed defined goals, thereby aligning individual performance with the organization's objectives and rewarding high achievement.
PERFORMANCE-BASED PAY PLAN a. Bargaining unit members, upon completion of their sixth (6th) or more years of continuous service with the District who achieve a score of 165 or higher on the District’s Performance Based Evaluation Instrument with no areas rated as “Not Acceptable” the previous fiscal year, are eligible to receive a Performance-Based Pay stipend on or about December 1 of the fiscal year following the attainment of the score of 165 or higher. The employee must remain an employee of the District through December 1 of the fiscal year following the attainment of the score of 165 or higher to maintain his/her eligibility to receive the Performance Pay stipend. The Parties agree and understand that becoming eligible for the Performance Pay stipend is contingent each year on the employee’s completion of six (6) or more years of continuous service with the District, achieving a score of 165 or higher and having no area rated as “Not Acceptable” on his/her annual. Performance-Based Evaluation form and remaining an employee through December 1 of the fiscal year following the attainment of the score of 165 or higher. In addition, it is understood that the Chief of Police or designee may establish one of the three goals that are to be attained by the employee as set forth in the Performance Based Evaluation Instrument during any years the Performance Based Pay Plan is in effect.
b. The amount of the Performance-Based Pay stipend that is paid to each eligible employee will vary each year based on the total number of bargaining unit members who are eligible to receive a Performance-Based Pay stipend that fiscal year. The number of eligible employees each year will be divided into the District’s Performance-Based Pay amount of one-hundred thousand dollars ($100,000) each December.
c. While each eligible employee is required to have all legally mandated deductions made from his/her Performance-Based Pay stipend, the District assumes all responsibility for making all additional legal payments and these additional payments will be made in addition to the one hundred thousand dollars ($100,00) set aside annually to pay these Performance-Based Pay stipends.
PERFORMANCE-BASED PAY PLAN. Executive will be eligible for a 2008 Performance-Based Pay (“PBP”) payout, if any, based on 2008 base wages earned through the Separation Date, any such amount to be paid when PBP payments for 2008 are made to Alaska’s other executive officers generally. Executive will not be eligible to participate in the PBP for 2009.
PERFORMANCE-BASED PAY PLAN. Executive will be eligible for a 2007 Performance-Based Pay (“PBP”) payout, if any, based on 2007 base wages earned through the Retirement Date.
PERFORMANCE-BASED PAY PLAN a. Bargaining unit members, upon completion of their sixth (6th) or more years of continuous service with the District who achieve a score of 165 or higher on the District’s Performance Based Evaluation Instrument with no areas rated as “Not Acceptable” the previous fiscal year, are eligible to receive a Performance-Based Pay stipend on or about December 1 of the fiscal year following the attainment of the score of 165 or higher. The employee must remain an employee of the District through December 1 of the fiscal year following the attainment of the score of 165 or higher to maintain his/her eligibility to receive the Performance Pay stipend. The Parties agree and understand that becoming eligible for the Performance Pay stipend is contingent each year on the employee’s completion of six (6) or more years of continuous service with the District, achieving a score of 165 or higher and having no area rated as “Not Acceptable” on his/her annual.
PERFORMANCE-BASED PAY PLAN. The Parties agree that no Performance Pay will be issued (December 2018) related to FY18 evaluations.
a. Bargaining unit members, upon completion of their sixth (6th) or more years of continuous service with the District who achieve a score of 165 or higher on the District’s Performance Based Evaluation Instrument with no areas rated as “Not Acceptable” the previous fiscal year, are eligible to receive a Performance-Based Pay stipend on or about December 1 of the fiscal year following the attainment of the score of 165 or higher. The employee must remain an employee of the District through December 1 of the fiscal year following the attainment of the score of 165 or higher to maintain his/her eligibility to receive the Performance Pay stipend. The Parties agree and understand that becoming eligible for the Performance Pay stipend is contingent each year on the employee’s completion of six (6) or more years of continuous service with the District, achieving a score of 165 or higher and having no area rated as “Not Acceptable” on his/her annual.
PERFORMANCE-BASED PAY PLAN. Executive will be eligible for a 2010 Performance-Based Pay (“PBP”) payout, if any, based on 2010 base wages earned through December 31, 2010, with any such amount to be paid when PBP payments for 2010 are made to Horizon’s other executive officers generally. Executive will not be eligible to participate in the PBP for 2011.
PERFORMANCE-BASED PAY PLAN. You will be eligible for a 2005 Performance-Based Pay (“PBP”) payout, if any, based on your 2005 base wages earned through your last day worked.