Employee Pay-Benefits - Hourly with Incentives

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Employee Pay-Benefits - Hourly with Incentives Powered By Docstoc
					                         Annualized Salary and Benefits For:
                                                      Sample Employee
                                                               Project Leader

Employee Compensation
Base Pay
    This figure is based on 40 hours per week x 50 weeks per year. This does not include any
    overtime pay, which is discouraged.                                                                      $ 17.50 hour    $ 35,000.00
Vehicle Reimbursement
    This figure is based on 5 work days per week. You will only be reimbursed for the number of days
    worked per pay period.                                                                                   $ 75.00 week     $ 3,750.00
Tool Program
    All field employees are required to own "the tools of their trade". Eligible employees will receive
    the following tool allowance: carpenters will receive $5.00/week, painters will receive $5.00/week,
    lead carpenters (project leaders in training) and service technicians will receive $10.00/week, and
    project leaders will receive $15.00/week. These allowances are to be used for the purchase
    and/or repair of production tools - no cash disbursements will be allowed. Tools purchased
    through this program will remain the property of Classic Remodeling for a period of one year, at
    which time ownership will convey to the employee. All tool purchases must be pre-arranged
    through your immediate supervisor.                                                                       $ 15.00 week      $ 750.00
Health and/or Supplemental Insurance
    Your employer wishes to see you plan for your medical care. Eligible employees will receive this
    amount towards health or supplemental benefits. Eligibility begins after 90 days of continuous full-
    time employment.                                                                                        $ 100.00 month    $ 1,200.00
Paid Time Off
    Eligible employees will accrue the following paid time off per year; 5 days (40 hours) after 3-
    months, 12 days (96 hours) after 1 year, and 18 days (144 hours) after 2 years. Paid time-off shall
    be used for sick days, personal days, vacations, and holidays. Any absence in excess of 2
    contiguous days must be requested 30 days in advance, or be accompanied by a doctors excuse.
    Eligibility begins after 90 days of continuous full-time employment.                                         18 days      $ 2,520.00
Retirement Plan
    Your employer wishes to see you plan for your later years in life. Your Employer will contribute to
    your 401-K retirement plan by matching $0.50 for every $1.00 that the you save, up to 3% of your
    base pay. Employees must be eligible for participation according to the guidelines of the plan
    (after 90 days of continuous employment). This figure is based on the maximum applicable
    amount.                                                                                                                   $ 1,050.00
Production Incentives
    As a project leader, lead carpenter, or service technician, you will receive additional incentive pay
    based on the performance of your completed projects. Criteria for incentives are based on the
    following four criteria; a) on-time, b) on-budget, c) managed and produced to company standards,
    and d) a completely satisfied customer. If all four criteria are met, you will receive an incentive
    equal to 3% of the gross profit of the project. Incentive pay is distributed after the project is
    completed, paid in-full by the customer, and closed. Management reserves the right to modify or
    terminate incentive pay at its sole discretion.                                                                           $ 4,950.00
                                                                                                                             $ 49,220.00

Other Costs Associated with Your Employment
Social Security & Medicare
    Your employer is required to contribute to Social Security and Medicare on your behalf. This figure
    is 7.2% of your wages up to $60,000.                                                                                      $ 2,520.00
State & Federal Unemployment
    Your employer is required to contribute to state and federal unemployment on your behalf. This
    figure is 3.7% of your wages up to $60,000.                                                                               $ 1,295.00
Workers Compensation Insurance
    Your employer is required to contribute to workers compensation insurance which pays for medical
    expenses for on-the-job injuries. This figure is 14% of your wages.                                                       $ 4,900.00
Training & Education
    Classic Remodeling is committed to your continuing education. We have budgeted for training
    seminars, trade shows, and on-site training throughout the year. The figure shown here is the
    company's yearly budget divided by the total number of employees.                                                          $ 750.00
                                                                                                                              $ 9,465.00