This case study is the first to track the method used by an Israeli institution of higher education to assess and reward faculty members using a set of performance measures ("Excellence criteria"). The study profiles faculty members who received financial rewards for excellence during 2005-2007, based on the previous year's activities, as measured by their performance in traditional roles of higher education: research, teaching and academic administration, as well as contribution to the community. Faculty members' performance measures were also analysed for correlations with individual and occupational data. Specifically, the study examined links between the achievements of the faculty members, personal features (gender, age, seniority) and elements related to their academic work (rank, tenure, representation on senate committees). The study is grounded on the premise that quality measures of academic faculty are significant--and influential--for a truly holistic appraisal of academic staff. The study concludes that the institution successfully managed to institute a performance-based method of assessment and reward. (Contains 6 figures and 7 tables.)