Employment Performance Contract Sample Template Page 10
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12This document has been prepared for the purposes of the
PPP IN INFRASTRUCTURE RESOURCE CENTER FOR CONTRACTS, LAWS AND REGULATIONS (PPPIRC)
website. It is a sample document FOR REFERENCE PURPOSES ONLY and SHOULD NOT BE used as a "model".
The inclusion of any legal materials on the PPPIRC website does not mean that they are in any way approved,
endorsed or recommended by the World Bank Group or its affiliates. Legal advice should be sought to determine
whether a particular legal document is appropriate for any given project, and how the specific terms of the document
should be adapted to fit the circumstances of that project
8.2.2
In this Contract, "Poor" performance shall be defined as an achievement of an aggregate
indicator value of any number less than 50%. "Poor" performance shall result in a formal review
of the effectiveness of the job performance of the current office holders of the Board of Directors
and management team. Subject to recommendations made in this review, a disciplinary action
shall be taken against the Board and management team as detailed in sub-article 8.5.
8.2.3
In this contract "fair" performance shall be defined as an achievement of an aggregate
indicator value of any number between 50% and 69%. No performance related bonus shall be
awarded for achievement of a fair performance. However, salaries and allowances including other
fringe benefits shall not be increased, until "good" or "excellent" performance, as defined in sub-
articles 8.2.4 and 8.2.5 below is achieved.
8.2.4
In this Contract, "good" performance shall be defined as an achievement of an aggregate
indicator value of any number between 70% and 85%. "Good" performance shall result in the
award of an incentive bonus as specified in sub-article 8.3 of this contract.
8.2.5
In this Contract, "excellent" performance shall be defined as an achievement of an
aggregate Indicator value of any number greater than 85%. "Excellent" performance shall result
in the award of an incentive bonus as specified in sub-article 8.3 of this Contract.
8.3
Performance Incentive Bonus
Payment of Performance Incentive Bonus shall be a function of the achievement of the annual
aggregate Indicator as specified in sub-articles 8.2.3 and 8.2.4, respectively. In the event "good"
performance is achieved by Power Company, the amount of the bonus to be paid shall be equal to
5% of after tax profits of the company. "Excellent" performance shall qualify for bonus payment
equal to 7.5% of after tax profits of Power Company. The bonus shall be distributed to the
qualifying employees at the discretion of the Power Company Board.
8.4
Employees for Performance Bonus
All eligible employees who were employed by Power Company during the year under review and
who were still in good standing with the company at the time that the performance related
incentive bonus is payable, shall be eligible for payment of such bonus.
8.5
Disciplinary Actions and Penalties for Poor Performance
If upon a formal review of the effectiveness of the job performance of the current Power
Company's office holders in the Board of Directors and of the management team, it is concluded
that poor performance was due to general, collective or individual laxity and or lack of
commitment to Power Company's business, the Government shall take punitive measures as set
out below, against the Board and affected members of the management team.
PPP in Infrastructure Resource Center for Contracts, Laws and Regulations (PPPIRC)
Reviewed: Victoria R. Delmon, LEGPS
February 2008
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Business