The coverage bonus

The amount, and what the bonus is

• The amount. Your own bonus document sets your monthly amount. This page shows no number, because the number is yours and nobody else's.
• Full time earns the whole monthly amount. Part time earns half of it.
• How it is worked out. The bonus is 12% of the total amount we expect you to consistently earn each month.
• You receive it unless there is a major performance issue.
• What it is for. The bonus pays for one thing: that the work keeps moving without the Interim CEO being drawn into the detail, while the Interim CEO is in the office and while the Interim CEO is away from the business.
• When it is paid. At the end of the month, in one payment, together with the rest of your pay.

The rest of this page is what the bonus pays for, how it is paid, and the one thing that would stop it in a given month.

What the bonus pays for

• The coverage bonus pays for something separate: that the work keeps moving without the Interim CEO being drawn into the detail, both while the Interim CEO is in the office and while the Interim CEO is away from the business.
• The bonus is for that outcome, not for the tasks themselves.
• Your base pay is for running your role.

How it is paid

• It is paid on the same schedule and by the same method as your base pay, in one payment by the last day of each month.
• The amount is a monthly figure, set by the firm in writing, and it can change by the same written process.

How it is earned

The bonus is what pays for the culture the firm is building: accountability, autonomy, and transparency. You own your work, you say what is happening without being asked, and the firm does not have to check.

It is earned month by month. You receive it unless there is a major performance issue that month. Keeping the covered work on time and in good order is what the standard looks like, including while the Interim CEO is away from the business.

This bonus is part of the firm's culture of accountability. If you are opposed to that, we will talk it through and help you understand why it works this way. If you are still opposed after that conversation, another company is a better fit for you.

On time

• Each item of covered work is finished by its deadline, whether that deadline is set by a client, a vendor, the firm, or by law.
• No item is left aging past the follow up window the firm has set without you raising it.
• This covers reviewing bookkeeping and month end close as well, not only the work of your own role.

In good order

• The work meets the firm's standards and the SOPs.
• What you hand over is complete and needs no rework for material error.
• Client and vendor items are tracked and current.
• Records are accurate and current, so the Interim CEO can step away and come back to nothing unhandled.

What happens if there is a major performance issue

• You receive the bonus every month unless there is a major performance issue that month.
• A single late item does not cost you the bonus. Neither does one thing needing a second look. Those get raised with you and put right.
• A major performance issue is the covered work breaking down rather than one part of it slipping: work left unfinished with nobody told, the same standard missed again after it was raised, or the Interim CEO having to step in and run the work herself.
• Only that month's bonus is affected. Never an earlier month, and never the next one.
• The firm makes that call in good faith, and on request will name the specific thing that fell short.
• You receive the bonus again the next month.

When it changes or stops

• It stops when the covered outcome stops.
• If the scope of the covered work changes, the bonus is adjusted or removed by written amendment signed by both sides.
• If the covered work grows, the bonus can be increased by the same written process, reviewed at your quarterly career meeting.