Read each description of a different pay-for-performance (PFP) situation. Then, select the PFP plan name that most accurately fits the description given. Alice works at a digital marketing firm in Philadelphia. She had an exceptionally productive year. At her annual performance review, she received a pay-out of $5,000 as a result of her hard work and strong performance. . 1. Merit pay 2. Merit bonus 3. Spot award 4. Individual incentive plan 5. Gain-sharing plan 6. Profit-sharing plan 7. Team-based incentive 8. Employee stock ownership plan