Linking Performance to Compensation

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I must start my post with stating that I have no experience of the Compensation module at all.  I am working with a customer who wish to carry out light touch performance check ins throughout the year, and then have the ability to give ad hoc monetary awards from within performance.  However, they want it to be locked down so that a cash award can only be given if a check in has taken place (for example).  They do not want to use ratings.  

Is there a way that we can link the Performance and Compensation areas to meet this requirements?