Example ContractsClausesAnnual Bonus
Annual Bonus
Annual Bonus contract clause examples

Annual Bonus. Executive shall be eligible for a discretionary “Annual Bonus” in accordance with Company’s Named Executive Officers Incentive Plan as in effect from time [[Organization A:Organization]] time (or a successor thereof) (the “NEO Incentive Plan”) at a target rate of 60% of his Base Salary and a maximum rate of 80% of his Base Salary, subject [[Organization A:Organization]] satisfaction of applicable performance ratings and other conditions as determined by the Company from time [[Organization A:Organization]] time. Executive’s bonus shall be paid in a single lump sum cash payment not later than June 15 following the conclusion of the calendar year in which such bonus is earned; provided, however, that if the annual audit for such calendar year has not been issued by Company’s outside auditors by said June 15, then payment shall be made within thirty (30) days following the issuance of such audit, but in no event shall payment be made later than the end of the calendar year following the calendar year in which such bonus is earned. The Annual Bonus for any year shall be pro rated for partial years and shall be subject [[Organization A:Organization]] the terms and conditions of the NEO Incentive Plan.

Annual Bonus. Executive will be eligible to earn an annual incentive bonus (“Annual Bonus”) with an annual target of fifty percent (50%) of Base Salary, up to a maximum amount of up to one hundred percent (100%) of Base Salary, determined in accordance with the terms of the Company’s annual bonus program applicable to its senior executive officers other than the Chief Executive Officer and President (such other officers, the “Non-Founder Executives”) generally for the relevant year, based on the achievement of objective financial performance goals applicable equally to all Non-Founder Executives’ annual bonuses for the relevant year, which bonus program shall be determined by the Compensation Committee of the Board and communicated to the senior executive team no later than ninety (90) days after the start of each applicable year. The target Annual Bonus shall be subject to review by the Board no less frequently than annually. In order to earn a bonus for an applicable year, Executive must be employed with the Company as of the fifth day of January of the year following the applicable bonus program year, and any such bonus will be paid at such time as annual bonuses are paid generally to the Company’s senior executive, but in any event no later than April 30th of the year following the applicable bonus program year.

Annual Bonus. Executive will be eligible to earn a discretionary annual incentive bonus (“Annual Bonus”) with a target of not less than one hundred percent (100%) of Executive’s then current Base Salary, up to a maximum amount determined in accordance with the terms of the Company’s annual bonus plan (the “Bonus Plan”), based on the achievement of certain performance goals to be determined by the Compensation Committee of the Board in each applicable year in accordance with the terms of the Bonus Plan. Fifty percent (50%) of the Annual Bonus shall be based on annual performance goals and, if earned, shall be payable upon the earlier of # ten (10) business days after the completion of the audit of the Company’s annual financial statements for the calendar year to which such annual performance goals relate or # March 15 of the year following the calendar year to which such annual performance goals relate. Fifty percent (50%) of the Annual Bonus shall be based on quarterly performance goals set in the Bonus Plan. If earned, such quarterly bonus payments shall be paid in the first regular pay period after the filing of the Company’ Form 10-Q for the calendar quarter to which the quarterly performance requirements relate but in no event later than March 15 of the following year. Notwithstanding anything to the contrary, in no event shall the aggregate amounts payable for Executive’s Annual Bonus for any year be less than twenty-five percent (25%) of his then Base Salary.

Annual Bonus. In addition to the Annual Base Salary, the Executive will be awarded for each year ending during the Employment Period and for which the Executive is employed on the last day of the year an annual bonus (the “Annual Bonus”) in one lump sum cash payment at least equal to the average annual bonus paid or payable, including by reason of any deferral, for the two (2) years immediately preceding the year in which the Change in Control Date occurs. Each such Annual Bonus will be paid no later than two and one-half (2 ½) months after the end of the year for which the Annual Bonus is awarded.

Annual Bonus. In addition to the Base Salary, the Executive shall be eligible, through participation in the Company’s annual bonus plan or other similar plan to the extent then in effect, to earn an annual bonus (the “Annual Bonus”) in each fiscal year during the Employment Period, with a target Annual Bonus of seventy five percent (75%) of Base Salary (the “Target Bonus”), with an opportunity to earn up to one hundred fifty percent (150%) of Base Salary, with the actual payout based on the achievement of annual individual and Company performance objectives established by the Compensation Committee. For calendar year 2020, Executive shall be paid a guaranteed Target Bonus amount pro-rated based on the number of days between the Effective Date and December 31, 2020, which shall be paid in January 2021. In subsequent years, any Annual Bonus shall be paid on or before March 15th of each calendar year immediately following the year in which compensation is earned in accordance with the applicable plan (except as otherwise provided herein).

Annual Bonus. Executive will be eligible for an annual discretionary bonus (the “Annual Bonus”) of up to 40% of Executive’s then current annual Base Salary (the “Target Bonus Amount”). Whether Executive receives an Annual Bonus for any given year, and the amount of any such Annual Bonus, will be determined in the good faith discretion of the Company’s Board of Directors (the “Board”) (or the Compensation Committee thereof) and the CEO, based upon the Company’s and Executive’s achievement of corporate and individual objectives and milestones to be determined on an annual basis by the Board (or Compensation Committee thereof). No Annual Bonus is guaranteed and, in addition to the other conditions for earning such compensation, Executive must remain an employee in good standing of the Company on the scheduled Annual Bonus payment date in order to be eligible for any Annual Bonus.

ANNUAL BONUS. With respect to each full calendar year during the Employment Term, the Executive shall be eligible to earn an annual, performance-based bonus (an “Annual Bonus”) with a target bonus value equal to fifty percent (50%) of the Executive’s Base Salary (the “Target Bonus”) based upon the achievement of performance targets, which shall be established by the Board (or a committee thereof) in consultation with the Executive within the first 90 days of each calendar year during the Employment Term, with the actual amount of the Annual Bonus for a particular year determined by the Board (or a committee thereof) in its discretion. The Board (or a committee thereof) shall consider the Executive’s performance in the entire 2020 calendar year without regard to the effective date when determining the Executive’s Annual Bonus for the 2020 calendar year. Subject to Section 8 below, in order to be eligible for an Annual Bonus, the Executive must remain employed for the entire calendar year for which the performance targets will have been set. Any Annual Bonus earned by the Executive will be paid no later than March 15 of the calendar year immediately following the calendar year in which the Annual Bonus is being measured. The Executive’s Target Bonus shall be subject to review by the Board (or a committee thereof) at least annually and may be increased, but not decreased, from time to time by the Board.

Annual Bonus. An annual cash bonus award opportunity, equal to at least the annual cash bonus award opportunity in effect immediately prior to the Change in Control. Any annual bonus earned by the Executive shall be paid to him after the end of the fiscal year to which it relates; provided that in no event shall the Executive’s annual bonus be paid later than March 15 of the fiscal year following the fiscal year for which it was earned.

Annual Bonus. For each fiscal year completed during the Term, commencing with the 2022 fiscal year, the Executive shall be eligible to participate in an annual bonus plan. Depending on your start date, the bonus may be prorated for the 2022 fiscal year, which starts April 4, 2021. The Executive’s annual target bonus shall be seventy-five percent (75%) of the Base Salary (the “Target Bonus”), with a maximum annual bonus of one hundred fifty percent (150%) of the Base Salary, with the actual amount of his bonus, if any, to be determined by the Board, in consultation with the CEO, in accordance with the Executive’s performance against performance objectives the for Executive and for the Company set by the Board, in consultation with the CEO. Other than provided for in Sections 5(a), 5(b), 5(d) and 5(e), the Executive, in order to be eligible to earn an annual bonus for any fiscal year occurring during the Term hereof, must be employed on the date payment of annual bonuses for that fiscal year is made to Company executives generally.

Annual Bonus. In addition to the Annual Base Salary, for each fiscal year ending during the Employment Period, the Executive shall be eligible for an annual cash bonus (the “Annual Bonus”), as determined by the Compensation Committee or the Board (in their sole and absolute discretion), which value shall be up to 50% of Executive’s Annual Base Salary in effect on the last day of such fiscal year and as determined in accordance with the policies and practices generally applicable to other senior executive officers of the Company. The Annual Bonus, to the extent earned, shall be paid to the Executive within thirty (30) days following approval by the Compensation Committee or the Board of the Annual Bonus actually earned by Executive (in their sole and absolute discretion), if any, the timing of which shall depend on the availability of financial results audited by the Company’s independent registered public accounting firm. Any earned Annual Bonus shall be payable in cash, provided however, that the Company may elect in the sole discretion of the Compensation Committee or the Board to pay up to 50% of any earned Annual Bonus in shares of the Company’s Class A common stock in lieu of cash, as a fully vested Other Stock-Based Award (as defined the Company’s 2018 Omnibus Incentive Plan, as amended or other newly adopted equity incentive plan of the Company (the “Equity Incentive Plan”)) which stock shall be valued at a price per share equal to the thirty (30) day volume weighted average price of the Company’s Class A common stock as traded on the Company’s principal trading market calculated from the date that such earned Annual Bonus is approved by the Compensation Committee or the Board. For the avoidance of doubt, any Annual Bonus earned by the Executive for 2021 shall be prorated by the number of days (or other measurement of time) during which the Executive was employed by the Company during the year.

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