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  2. Sales Operations

Comp Plan - Order Sheets For Sales

Published:
5 mins read

Order Sheet bonus Structure

Overview

This Bonus Policy is specifically designed to incentivize and reward employees responsible for processing order sheets for the sales team. The policy outlines the criteria and conditions under which bonuses are awarded based on the volume and accuracy of processed transactions. It aims to encourage high performance and efficiency in handling order sheets, ensuring that the sales team has the necessary support to achieve its goals. The bonus structure is designed to be flexible, with monthly targets that may vary, and is subject to the terms and conditions detailed below.

Base Formula:

  • Payout Formula: (Transactions Achieved / Monthly Target) * KES 12,500.00
  • The target may change on a month-to-month basis.

Bonus Structure

August and September Target: 170 Transactions (TR) (subject to change monthly)

Payout: KES 12,500.00 (based on the current monthly target)

1. Eligibility

  • To qualify for the bonus, employees must be employed for the entire month and must meet the performance criteria as specified in this policy.

2. Meeting the Target

  • If the employee achieves the set target of 170 transactions (or the updated monthly target), they will receive a full payout of KES 12,500.00.

3. Under Target

  • If the employee does not meet the target, the payout will be calculated proportionally based on the transactions achieved.
  • Formula: (Transactions Achieved / Monthly Target) * KES 12,500.00
  • Example:
    • If the employee achieves 160 transactions:
    • Payout = (160/170) * KES 12,500.00 = KES 11,764.00

4. Exceeding the Target (Capped at 1.2x)

  • If the employee exceeds the target, the payout will be calculated proportionally up to a maximum of 1.2 times the target.
  • Formula: (Transactions Achieved / Monthly Target) * KES 12,500.00
  • Example:
    • If the employee achieves 220 transactions:
    • Capped at 1.2x of the target, the payout = 1.2 * KES 12,500.00 = KES 15,000.00

Additional Terms

  • At-Will Discretion: This bonus policy is not an employment contract and does not guarantee any payments. The company reserves the right to modify, suspend, or terminate this bonus policy at any time and for any reason, with or without notice.

  • No Contractual Rights: Participation in the bonus program does not constitute a contractual right to continued employment, and the terms of this policy do not amend or alter the at-will nature of the employment relationship.

  • Tax and Legal Compliance: All bonus payments are subject to applicable tax withholdings and other legal deductions as required by law. Employees are responsible for any tax liabilities arising from bonus payments.

  • Performance Review: The company reserves the right to review and adjust the targets and the bonus payout criteria at its discretion. Any changes will be communicated to employees at the beginning of the relevant month.

  • Governing Law: This policy is governed by the laws of Kenya, and any disputes arising from or related to this policy will be subject to the jurisdiction of the courts in Kisumu Kenya

  • No Waiver: Failure by the company to enforce any part of this policy does not constitute a waiver of the company's right to enforce any part of this policy at any time.

  • Severability: If any provision of this policy is found to be invalid or unenforceable, the remaining provisions will remain in full force and effect.

This bonus policy outlines the terms and conditions under which bonuses may be awarded and is subject to change at the company's discretion.

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