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11 Cards in this Set

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  • Back
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Bonus
One-time payment that does not become part of the employee’s base pay.
Chap 13
Commission
Compensation computed as a percentage of sales in units or dollars.
Chap 13
Compensation committee
Subgroup of the board of directors, composed of directors who are not officers of the firm.
Chap 13
Draw
Amount advanced from and repaid to future commissions earned by the employee.
Chap 13
Employee stock ownership plan (ESOP)
Plan whereby employees have significant stock ownership in their employers.
Chap 13
Gainsharing
System of sharing with employees greater-than-expected gains in profits and/or productivity.
Chap 13
Perquisites (perks)
Special benefits—usually non-cash items—for executives.
Chap 13
Profit sharing
System to distribute a portion of the profits of the organization to employees.
Chap 13
Stock option plan
Plan that gives employees the right to purchase a fixed number of shares of company stock at a specified price for a limited period of time.
Chap 13
Straight piece-rate system
Pay system in which wages are determined by multiplying the number of units produced by the piece rate for one unit.
Chap 13
Variable pay
Compensation linked to individual, group/team, and/or organizational performance.
Chap 13