Incentive Pay Plan Agreement
"This Incentive Compensation Plan Agreement is a collective bargaining agreement (CBA) between a union and an employer (or set of employers) which sets forth the terms and conditions of an incentive compensation plan. The incentive compensation plan is included under Exhibit A. The CBA sets the duration of the plan and some of the enforcement mechanisms. The plan itself lists how the incentive compensation will be paid, when it will be paid and lists the eligibility requirements. This document in its draft form contains numerous of the standard clauses commonly used in these types of agreements; however, additional language may be added to allow for customization to ensure the specific terms of the parties' agreement are addressed. This agreement can be used between small businesses and unions that want to enter into an incentive pay plan agreement.
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