Reminder: Incentive Payment Eligibility for Employees Departing TK

From
Robert Valliant <bob.valliant@thekey.com>
To
Audra Williams <audraw@thekey.com>, Tiffany Silton <tsilton@thekey.com>, Jessica Thomas <jessica.thomas@thekey.com>, Jennifer Geist <jennifer.geist@thekey.com>, Coddye Ring-Noonan <coddye.ringnoonan@thekey.com>, Timothy Thomas <tt@thekey.com>, Kimberly Guerci <kguerci@thekey.com>, BethAnn Rosario <bethann.rosario@thekey.com>, Ashley Mirone <amirone@thekey.com>, Earl Blair <earl.blair@thekey.com>, Vanessa Treadwell <vtreadwell@thekey.com>, Kevin Parker <kevin.parker@thekey.com>, Juan Diaz <juan.diaz@thekey.com>, Christopher Reese <christopher.reese@thekey.com>
CC
Beth Haight <elizabeth.haight@thekey.com>, Christopher Rafferty <christopher.rafferty@thekey.com>, Kristen Jarbo <kjarbo@thekey.com>, Mansi Mehta <mmehta@thekey.com>, Girlie Gorospe-Nitafan <gnitafan@thekey.com>, Germaine Daniels <germaine.daniels@thekey.com>
Date
Thu, 27 Feb 2025 11:04:02 -0500
Folder
INBOX
--0000000000005919ba062f21d7c8 Content-Type: text/plain; charset="UTF-8" Hi all: I am writing as a reminder regarding eligibility for incentive payments for employees terminating from TK. In order to be eligible for payment for a prior performance month from an incentive plan in which they were participating: *Their termination date must be on, or after the payout date for a prior performance month.* See below the exceptions to this policy. For example, an Operations employee on the Keys Plan who resigned, with a termination date of tomorrow, 2/28, will NOT be eligible for their JAN bonus to be paid on 3/7. And, they of course, would also NOT be eligible for their FEB bonus, to be paid on 4/4. The applicable section in the incentive plan documents is displayed below for your reference. This policy has been in place since at least 2023. Please ensure all of your managers remain aware of this policy, and if presented with an employee resignation, they should remind the employee of this policy stated in their plan document. Kristen: When your team receives inquiries on this eligibility question, they can provide this policy language to the querying employee, without need for further escalation. However, hopefully, these inquiries will end based on the policy reinforcement at this time. 3) *Partial Year Plan Participation:* A Plan Participant may become eligible or lose eligibility under the Plan at any time during the Plan Period. In those situations, the following policies will apply: b) *Separation:* Where a Plan Participant terminates employment with the Company prior to the bonus payment date, no bonus is earned and/or paid (except as noted below under Reduction in Force). c) *Reduction in Force / Death:* In the case where a Participant (otherwise eligible) is involuntarily terminated as a result of a reduction in force or death that occurs after the end of the Plan Period and before the bonus payment date, a bonus will be paid for the completed period. No proration will be made for partial periods. --0000000000005919ba062f21d7c8 Content-Type: text/html; charset="UTF-8" Content-Transfer-Encoding: quoted-printable Hi all: I am writing as a reminder rega= rding eligibility for incentive payments for employees terminating from TK.= In order to be eligible for payment for a prior p= erformance month from an incentive plan in which they were participating: Their termination date mu= st be on, or after the payout date for a prior performance month. =C2=A0 See below the exceptions to this policy. F= or example, an Operations employee on the Keys Plan who resigned, with a te= rmination date of tomorrow, 2/28, will NOT be eligible=C2=A0for their JAN b= onus to be paid on 3/7.=C2=A0 And, they of course, would also NOT be eligib= le for their FEB bonus, to be paid on 4/4. The app= licable section in the incentive plan documents is displayed below for your= reference.=C2=A0 This policy has been in place since at least 2023. Please ensure all of your manager

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