November 2007 04
UNIVERSITY OF THE VIRGIN ISLANDS BOARD OF TRUSTEES Performance Incentive Award Program Authorizing the ratification of the Performance Incentive Award Program WHEREAS, it is a strategic objective of the University to develop and maintain equitable compensation programs that respond to market changes, motivate high performance, recognize productive employees and job growth, are affordable to the university and comply with applicable legal requirements; and WHEREAS, on March 11, 2006, the University Board of Trustees approved Phase III of the FY2005-2006 compensation plan which directed the University to prepare and present a plan to award employees for excellence in performance for its approval; and WHEREAS, the University’s proposed Performance Incentive Award Program addresses excellence in performance in carrying out the ideals of Vision 2012 and is the product of several meetings of the University Compensation Committee in addition to presentations to faculty and staff; and WHEREAS, at its June 16, 2007 Meeting, the Board of Trustees referred, to the Executive Committee for action …
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UNIVERSITY OF THE VIRGIN ISLANDS BOARD OF TRUSTEES Performance Incentive Award Program Authorizing the ratification of the Performance Incentive Award Program WHEREAS, it is a strategic objective of the University to develop and maintain equitable compensation programs that respond to market changes, motivate high performance, recognize productive employees and job growth, are affordable to the university and comply with applicable legal requirements; and WHEREAS, on March 11, 2006, the University Board of Trustees approved Phase III of the FY2005-2006 compensation plan which directed the University to prepare and present a plan to award employees for excellence in performance for its approval; and WHEREAS, the University’s proposed Performance Incentive Award Program addresses excellence in performance in carrying out the ideals of Vision 2012 and is the product of several meetings of the University Compensation Committee in addition to presentations to faculty and staff; and WHEREAS, at its June 16, 2007 Meeting, the Board of Trustees referred, to the Executive Committee for action, a Performance Incentive Award Program submitted by the Administration; and WHEREAS, the Executive Committee revised and approved the Performance Incentive Award Program. NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE UNIVERSITY OF THE VIRGIN ISLANDS AS FOLLOWS: The action of the Executive Committee approving the revised Performance Incentive Award Program and authorizing the President and Vice President for Administration and Finance to take all such actions necessary and proper to implement the program is hereby ratified. ERTIFICATION The undersigned do hereby certify that the foregoing is a true and exact copy of a resolution of the Board of Trustees of the University of the Virgin Islands adopted by the Board of Trustees at its meeting on Saturday, November 3, 2007, as recorded in the minutes of s9j eting. il- 21-07 Chairman of te Poard Date ie Pa 5 Uy OY ARF Leowhb Secretary of the Board Date