Performance Award definition: Copy, customize, and use instantly
Introduction
The term "Performance Award" refers to a form of compensation awarded to employees or other parties based on their performance, often in the form of bonuses, stock options, or other financial incentives. These awards are commonly used to motivate individuals or teams to achieve specific goals or metrics. The "Performance Award" helps align the interests of employees with the organization's overall objectives by offering rewards for high performance.
Below are various examples of how "Performance Award" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Performance Award" for executive compensation
This definition ties "Performance Award" to executive compensation, where it is used as part of a package to incentivize senior leadership.
"Performance Award" means a monetary or equity-based award granted to an executive based on the achievement of pre-established performance goals, which may include financial targets, operational milestones, or other key performance indicators.
Definition of "Performance Award" for employees
This definition connects "Performance Award" to awards given to employees for achieving company objectives or personal performance metrics.
"Performance Award" refers to a cash bonus or equity compensation awarded to an employee based on the achievement of individual, team, or organizational performance objectives, as specified in their performance review.
Definition of "Performance Award" for sales targets
This definition links "Performance Award" to sales performance, where it is awarded based on the achievement of sales targets.
"Performance Award" means an incentive granted to sales employees based on the achievement of specific sales targets or revenue milestones, as outlined in the company’s sales compensation plan.
Definition of "Performance Award" for stock options
This definition ties "Performance Award" to stock options granted as part of a performance-based incentive program.
"Performance Award" refers to stock options or other equity instruments granted to employees or executives contingent on meeting performance targets, such as financial goals or strategic objectives.
Definition of "Performance Award" for bonuses
This definition connects "Performance Award" to performance-based bonuses, typically provided at the end of a performance period.
"Performance Award" means a bonus or incentive payment awarded to an employee or executive based on the achievement of specific performance targets during a defined period, such as a fiscal year.
Definition of "Performance Award" for annual performance review
This definition ties "Performance Award" to awards granted based on annual performance reviews.
"Performance Award" refers to the compensation or benefits awarded to employees following their annual performance review, reflecting their achievement of individual or team goals as evaluated by management.
Definition of "Performance Award" for milestone achievements
This definition connects "Performance Award" to the completion of significant milestones within a project or performance cycle.
"Performance Award" means a reward or incentive given to an employee or team upon the successful completion of a critical milestone or achievement in a project or initiative, often tied to performance metrics.
Definition of "Performance Award" for performance-based equity
This definition links "Performance Award" to the grant of performance-based equity, such as restricted stock or performance shares.
"Performance Award" refers to the grant of performance-based equity, including performance shares or restricted stock units, that vest upon achieving predefined performance objectives over a set period.
Definition of "Performance Award" for long-term incentives
This definition ties "Performance Award" to long-term incentive plans designed to reward performance over several years.
"Performance Award" means an award granted to executives or employees as part of a long-term incentive program, with the value tied to the achievement of performance metrics over a multi-year period.
Definition of "Performance Award" for leadership performance
This definition connects "Performance Award" to performance awards based on leadership effectiveness and achievement of leadership goals.
"Performance Award" refers to compensation awarded to senior leaders based on their effectiveness in driving organizational success, team performance, or other leadership-related objectives.
Definition of "Performance Award" for team-based performance
This definition ties "Performance Award" to awards given to teams based on collective performance.
"Performance Award" means a reward or bonus given to a team based on the collective achievement of performance goals, such as project success or overall departmental performance metrics.
Definition of "Performance Award" for individual contribution
This definition links "Performance Award" to recognition based on individual contributions to a company’s success.
"Performance Award" refers to an award given to an employee based on their individual contribution to organizational success, as assessed by their manager or team leader.
Definition of "Performance Award" for customer satisfaction
This definition ties "Performance Award" to awards granted based on customer satisfaction metrics.
"Performance Award" means an incentive awarded to employees, such as customer service representatives or sales teams, based on achieving high levels of customer satisfaction or exceeding customer satisfaction targets.
Definition of "Performance Award" for productivity goals
This definition connects "Performance Award" to awards for meeting or exceeding productivity goals.
"Performance Award" refers to an award given to an employee or team based on the achievement of specific productivity targets, such as increased efficiency, output, or cost savings.
Definition of "Performance Award" for financial performance
This definition links "Performance Award" to awards granted for meeting or exceeding financial performance targets.
"Performance Award" means a monetary or equity-based award granted to an employee or executive based on the company’s financial performance, such as revenue growth or profitability metrics.
Definition of "Performance Award" for performance-based compensation
This definition ties "Performance Award" to performance-based compensation structures.
"Performance Award" refers to a compensation structure where employees or executives are rewarded based on their ability to meet performance targets, with a significant portion of compensation contingent on achieving these goals.
Definition of "Performance Award" for revenue targets
This definition connects "Performance Award" to sales or revenue targets for business units or individuals.
"Performance Award" means a reward granted to employees or teams upon reaching or exceeding predetermined revenue targets, often used in sales-driven organizations.
Definition of "Performance Award" for compensation adjustment
This definition ties "Performance Award" to the adjustment of compensation based on individual performance.
"Performance Award" refers to an increase in compensation, such as a salary boost or bonus, granted based on the employee’s individual performance over a defined period.
Definition of "Performance Award" for quarterly performance
This definition connects "Performance Award" to awards granted on a quarterly basis for meeting performance metrics.
"Performance Award" means a reward or bonus provided to employees or teams on a quarterly basis based on the achievement of performance targets, such as sales quotas or production goals.
Definition of "Performance Award" for performance in specific projects
This definition links "Performance Award" to recognition for achieving performance targets within specific projects.
"Performance Award" refers to an incentive given to employees for exceptional performance in the completion of specific projects or tasks that significantly contribute to the organization’s goals.
Definition of "Performance Award" for stock appreciation rights
This definition ties "Performance Award" to stock appreciation rights (SARs) granted based on performance.
"Performance Award" means the grant of stock appreciation rights, which allow the recipient to benefit from the increase in the value of the company’s stock over time, contingent upon meeting specific performance targets.
Definition of "Performance Award" for deferred compensation
This definition connects "Performance Award" to a deferred compensation plan, where employees receive awards based on future performance.
"Performance Award" refers to a form of deferred compensation, where employees are promised awards, such as bonuses or stock options, contingent on their performance over a future period.
Definition of "Performance Award" for sales commissions
This definition links "Performance Award" to sales commissions, where awards are based on individual or team sales performance.
"Performance Award" means a commission-based reward granted to salespeople based on the sales revenue they generate or the number of new accounts they secure.
Definition of "Performance Award" for incentive programs
This definition ties "Performance Award" to broader incentive programs designed to reward employees or contractors for meeting performance targets.
"Performance Award" refers to an award granted under an incentive program aimed at motivating employees or contractors to meet or exceed specific performance targets related to their job functions.
Definition of "Performance Award" for recognition of excellence
This definition connects "Performance Award" to recognition for outstanding performance, such as employee of the month.
"Performance Award" refers to an award given to employees for their exceptional performance, often recognized as "Employee of the Month" or similar programs aimed at rewarding excellence.
Definition of "Performance Award" for achievement in innovation
This definition links "Performance Award" to the recognition of employees or teams for innovative contributions.
"Performance Award" means an award granted to an employee or team for outstanding contributions to innovation, such as the development of new products, processes, or technologies that drive the organization’s success.
Definition of "Performance Award" for leadership achievement
This definition ties "Performance Award" to leadership achievements and the recognition of exceptional leadership.
"Performance Award" refers to a reward or recognition granted to leaders within the organization who demonstrate exemplary leadership and successfully drive organizational goals or lead teams to high performance.
Definition of "Performance Award" for project success
This definition connects "Performance Award" to project-based performance, where employees are rewarded for the successful completion of a project.
"Performance Award" means a bonus or incentive awarded to employees or project teams for the successful completion of a project, meeting or exceeding the performance goals set at the outset of the project.
Definition of "Performance Award" for risk management achievement
This definition ties "Performance Award" to performance related to risk management, where employees are rewarded for mitigating risk.
"Performance Award" refers to an award given to individuals or teams who have successfully identified, managed, and mitigated risks within the organization, ensuring business continuity and minimizing losses.
Definition of "Performance Award" for profitability targets
This definition connects "Performance Award" to profitability goals, where employees or executives are rewarded for exceeding profitability targets.
"Performance Award" means an award given to employees or executives based on the achievement of profitability targets, such as gross margin, net profit, or other financial benchmarks.
Definition of "Performance Award" for efficiency improvements
This definition ties "Performance Award" to performance awards for improvements in operational efficiency.
"Performance Award" refers to an incentive granted to employees or teams based on the achievement of significant efficiency improvements, such as reducing costs, improving processes, or increasing productivity.
Definition of "Performance Award" for exceeding expectations
This definition connects "Performance Award" to the recognition of employees who exceed established performance expectations.
"Performance Award" means a reward granted to an employee or team who exceeds predefined performance expectations or goes above and beyond in their duties to deliver exceptional results.
Definition of "Performance Award" for personal development
This definition ties "Performance Award" to personal development achievements, such as completing a training program or gaining a new skill.
"Performance Award" refers to an incentive or recognition granted to employees for their commitment to personal development, including completing training programs, certifications, or gaining new competencies.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.