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5.2. ERMUSR 12-12-2012
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5.2. ERMUSR 12-12-2012
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lump sum equal to the product of: a)the Multiplier; and b)2%of that employee's gross wages <br /> paid during the Measurement Period. (For example, if a Qualifying Employee's gross wages <br /> earned during the Measurement Period were equal to $50,000 and the Multiplier was equal to <br /> 100%, the total distribution to that employee would be equal to: $50,000 x 2% x 100%= <br /> $1,000.) <br /> If the Utilities' margins are negative due to sudden and unforeseen material changes to the <br /> industry or customer base, the Commission reserves the right to withhold distribution of the <br /> Performance Based Compensation Incentive in any given year. <br /> 4.0 Employee Qualifications and Distribution of the Incentive Compensation <br /> An employee of the Utilities will be eligible for participation in the Performance Metrics <br /> Incentive Compensation distribution if the employee meets the following eligibility requirements <br /> and is therefore a"Qualifying Employee"for purposes of this policy. <br /> a. The employee is in good standing with the Utilities. An employee would not be eligible <br /> while on disciplinary probation or a performance improvement action plan. <br /> b. The employee was a Full Time or Part Time employee during the Measurement Period. <br /> Seasonal, and Temporary employees are not eligible. <br /> The UMPIC Performance Based Compensation Incentive distribution will be made to Qualifying <br /> Employees on the first payroll date after the thirty day period following the date on which the <br /> Commission formally receives its annual auditor's report in an open meeting. <br /> GP:3300714 v4 <br /> 7.5 UTILITIES PERFORMANCE Page 3 of 3 Proposed December 12, 2012 <br /> METRICS AND INCENTIVE <br /> COMPENSATION POLICY <br />
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