20-279 20-279 . . . Incentive Bonus Plan under which committee of Board of Directors annually awards bonuses to employees of corporation and its subsidiaries and affiliates based on positions of individual employees within corporation and corporation's return on equity for that fiscal year. The target bonus for each fiscal year consists of participant's base compensation for such fiscal year multiplied by target bonus percentage as determined by committee. The earned bonus for each participant equals 100% of his target bonus if corporation achieves 13% return on equity for such fiscal year. If corporation achieves more or less than 13% return on equity, percentage of target bonus is increased or decreased accordingly. The amount of annual bonus is paid in cash, except that for junior and senior executives, 30% of such award is payable in shares of restricted common stock
Washington Restated Employee Annual Incentive Bonus Plan with attachments
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FAQ
Incentive compensation is a form of payment that rewards employees, often sales reps, for achieving specific goals or objectives. It is often tied to individual or company performance and is designed to motivate employees to work harder and achieve better results.
Annual Incentive Target means the amount of the Annual Incentive Award payable under the Plan for a particular performance period upon attainment of 100% of the performance goals. The Annual Incentive Target may be expressed as a percentage of Base Salary or a fixed amount of cash.
Bonuses ? like all incentives ? are separate from salary and commissions. They are awarded at the employer's will and decided upon once reps have hit their targets. The primary difference between bonuses vs. incentives is that incentives are decided upon ahead of time, while bonuses are granted after goals are met.
What exactly is an annual incentive plan? An annual incentive plan outlines compensation to be paid to employees when they achieve certain performance-related goals over 12 months. This compensation is in addition to their regular salary ? it may be an employee gift, cash incentive, or another type of bonus or reward.
Incentive bonuses include signing bonuses for new hires, referral bonuses for employees who refer successful candidates, and retention bonuses to encourage employee loyalty. Performance bonuses are given for exceptional work and can be given as annual bonuses, spot bonuses, or milestone bonuses.
Incentive pay is a system of rewards that is used to improve employee performance. The most common type of incentive pay is a bonus, which is a payment that is made in addition to the employee's regular pay. Bonuses are usually given to employees who meet or exceed specific performance goals.
An annual incentive plan is a plan for compensation that is earned and paid based upon the achievement of performance goals over a one-year period. These plans motivate performance and align executives' work with the company's short-term performance goals.
Usually, employees receive them if they meet specific criteria, such as completing a project on time and within budget. For example, a manager agrees to give everyone working on a certain marketing account a $500 bonus if they can complete all deliverables and get client approval by the end of the week.
Incentive pay, also known as "pay for performance" is generally given for specific performance results rather than simply for time worked. While incentives are not the answer to all personnel challenges, they can do much to increase worker performance. In this chapter we discuss casual and structured incentives.
(?n?s?nt?v ?b??n?s ) or incentive payment. noun. an extra payment made to an employee to reward good work. sales force incentive payments and bonuses.
