Section iii : Compensation & Benefits Auto-Wares Group is committed to a people-focused approach to compensation, ensuring that pay and incentives are competitive, equitable, and aligned with our values. Our goal is to attract and retain driven and reliable employees who contribute to both their own success and the success of Auto-Wares. As one team, we recognize that our people are our greatest asset, and we are dedicated to rewarding their hard work and commitment. To support this, Auto-Wares has established a comprehensive compensation plan with clear provisions and standards designed to uphold fairness, consistency, and opportunity for growth. Additionally, the types of compensation provided in this manner shall be regarded as payment in full for all employee services rendered to Auto-Wares Group, and no employee may accept any other compensation for services performed on behalf of Auto-Wares Group. Salary and Wage Adjustment In order to ensure that Auto-Wares Group salary and wage plan remains competitive and fair, a review of pay rates will be done at least once a year. Based on the results of these reviews, some positions may be eligible for a pay rate increase. Individual pay rate increases may be granted on each employee’s performance evaluation where excellent work has been demonstrated during the preceding period. All rate increases are submitted by a supervising manager and approved by the general manager. Bonus programs are not considered part of wages and are paid at the discretion of the Company . Overtime Compensation All employees are eligible to receive overtime compensation at the rate of 1 1/2 times their regular rate of pay for hours in excess of 40 hours each work week. All overtime worked by employees must be approved in advance by the employee’s supervisor. Overtime hours worked without supervisory approval may be regarded as a violation of Auto-Wares Group policy and, therefore, subject to disciplinary measures. Funeral Leave, Jury Duty, and Paid Time Off (PTO) hours will not be included in the calculation of (40) hours worked. Holiday hours are included in the calculation. Travel Compensation Travel costs in connection with approved business activities will be paid by Auto-Wares Group where use of private or commercial transportation is necessary. Expense reports and receipts must be submitted and approved by the employee’s supervisor before reimbursement.
11 Auto-Wares Group of Companies Handbook
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