Example ContractsClausesAnnual Discretionary Bonus
Annual Discretionary Bonus
Annual Discretionary Bonus contract clause examples

Annual Discretionary Bonus. Effective as of January 1, 2019, the Executive will be eligible to earn an annual performance bonus of up to 40% of the Executive's Base Salary (the "Target Bonus"), based upon the Board's assessment of the Executive's performance and the Company's attainment of targeted goals as set by the Board in its sole discretion. The Board may determine to provide the bonus in the form of cash, equity award(s), or a combination of cash and equity. Following the close of each calendar year, the Board will determine whether the Executive has earned a performance bonus, and the amount of any performance bonus, based on the set criteria. No amount of the annual bonus is guaranteed, and the Executive must be an employee in good standing on the date of payment in order to be eligible for any annual bonus, except as specifically set forth below. The Executive's bonus eligibility will be reviewed from time to time by the Board and is subject to change in the discretion of the Board.

Annual Discretionary Bonus. The Executive will be eligible [[Organization A:Organization]] earn an annual performance bonus of up [[Organization A:Organization]] 40% of the Executive’s Base Salary (the “Target Bonus”), based upon the Board’s assessment of the Executive’s performance and the Company’s attainment of targeted goals as set by the Board in its sole discretion. [[Organization A:Organization]] the extent the Executive’s Base Salary is changed during the year [[Organization A:Organization]] which the performance bonus relates, the Target Bonus shall be calculated based on base salary actually paid during such year (and not solely on the Executive’s Base Salary at the end of such year). The Board may determine [[Organization A:Organization]] provide the bonus in the form of cash, equity award(s), or a combination of cash and equity. Following the close of each calendar year, the Board will determine whether the Executive has earned a performance bonus, and the amount of any performance bonus, based on the set criteria. No amount of the annual bonus is guaranteed, and the Executive must be an employee in good standing on the date of payment in order [[Organization A:Organization]] be eligible for any annual bonus, except as specifically set forth below. The annual performance bonus, if earned, will be paid by no later than March 15 of the calendar year after the year [[Organization A:Organization]] which it relates. The Executive’s bonus eligibility will be reviewed on an annual or more frequent basis by the Board and is subject [[Organization A:Organization]] change in the discretion of the Board.

Annual Discretionary Bonus. The Executive will be eligible to participate in the Company’s Senior Executive Incentive Compensation Plan (the “Incentive Plan”) in accordance with the terms and conditions thereof. For 2022 only, subject to and in accordance with the terms of the Incentive Plan, the Executive shall be eligible for a target bonus of up to 50% of the Executive’s annualized Base Salary (the “Target Bonus”), prorated for the period beginning on the Effective Date and ending on December 31, 2022.

Annual Discretionary Bonus. Employee will be eligible for an annual discretionary target bonus (the “Annual Bonus”) of [##] ([##]%)] of Employee’s then current Base Salary (the “Target Bonus Amount”). Whether Employee 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 board of directors of the Company (the “Board”) (or the Compensation Committee thereof), based upon the Company’s and Employee’s achievement of 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, Employee must remain an employee in good standing of the Company on the date the Annual Bonus is paid in order to be eligible for and earn any Annual Bonus. For the calendar year of Employee’s Start Date, Employee’s eligibility for the Annual Bonus, and the amount thereof, will be prorated based on Employee’s Start Date.

At such time as the company has a profitable year (defined as being cash flow positive for a full annual fiscal year), you will become eligible for an annual discretionary bonus.

Annual Discretionary Bonus. In addition to your Base Salary, you are eligible to earn an annual discretionary bonus, less statutory and other applicable deductions as required, of up to thirty-five percent (35%) of your base salary earnings actually earned in the applicable calendar year of service (the "Target Bonus Amount"). The payment and amount of the annual bonus is within the sole discretion of the Board of Directors of the Company (the "Board”), based on the determination of the Compensation Committee of the Board of Directors of Parent (the "Compensation Committee”) and will be evaluated in the first quarter of each year in relation to the achievement of corporate objectives for the previous year and subject to the terms and conditions of [Appendix A]. Such objectives will be established annually by the Compensation Committee in its sole discretion. Bonuses are not earned until paid and are contingent upon your continued employment with the Company through the date the bonus is paid. No "pro-rated” or partial bonus will be provided unless provided for in [Sections L through P] below or as otherwise approved by the Board, based on the determination of the Compensation Committee, in its sole discretion.

Annual Discretionary Bonus. In addition to your Base Salary, you are eligible to earn an annual discretionary bonus, less statutory and other applicable deductions as required, of up to forty percent (40%) of your base salary earnings actually earned in the applicable calendar year of service. The payment and amount of the annual bonus is within the sole discretion of the Board of Directors of the Company (the “Board”), based on the determination of the Compensation Committee of the Board of Directors of Parent (the “Compensation Committee”) and will be evaluated in the first quarter of each year in relation to the achievement of corporate objectives for the previous year and subject to the terms and conditions of [Appendix A]. Such objectives will be established annually by the Compensation Committee in its sole discretion. Bonuses are not earned until paid and are contingent upon your continued employment with the Company through the date the bonus is paid. No “pro-rated” or partial bonus will be provided unless provided for in [Sections L through P] below or as otherwise approved by the Board, based on the determination of the Compensation Committee, in its sole discretion.

Annual Discretionary Bonus. In addition to your Base Salary, you are eligible to earn an annual discretionary bonus, less statutory and other applicable deductions as required, of up to fifty-five percent (55%) of your base salary earnings actually earned in the applicable calendar year of service, in Canadian dollars. Any bonus payable will be paid in Canadian dollars. The payment and amount of the annual bonus is within the sole discretion of the Board of Directors (the “Board”) and will be evaluated in the first quarter of each year in relation to the achievement of corporate objectives for the previous year. For the avoidance of doubt, any bonus for 2022 will be based on the period you are employed as Executive Chair of the Board of Directors in 2022 and will be evaluated and paid in the first quarter of 2023. Such objectives will be established annually by the Board in its sole discretion. Bonuses are not earned until paid.

Annual Discretionary Bonus. Effective as of the Effective Date, the Executive will be eligible [[Organization A:Organization]] earn an annual performance bonus of up [[Organization A:Organization]] 40% of the Executive’s Base Salary (the “Target Bonus”), based upon the Board’s assessment of the Executive’s performance and the Company’s attainment of targeted goals as set by the Board in its sole discretion. [[Organization A:Organization]] the extent the Executive’s Base Salary and/or target bonus percentage of Base Salary is changed during the year [[Organization A:Organization]] which the performance bonus relates, the Target Bonus shall be calculated based on base salary actually paid during such year (and not solely on the Executive’s Base Salary at the end of such year) and shall apply the initial target bonus percentage of Base Salary and the revised target bonus percentage of Base Salary based on the portion of the year during which each was in effect. The Board may determine [[Organization A:Organization]] provide the bonus in the form of cash, equity award(s), or a combination of cash and equity. Following the close of each calendar year, the Board will determine whether the Executive has earned a performance bonus, and the amount of any performance bonus, based on the set criteria. No amount of the annual bonus is guaranteed, and the Executive must be an employee in good standing on the date of payment in order [[Organization A:Organization]] be eligible for any annual bonus, except as specifically set forth below. The annual performance bonus, if earned, will be paid by no later than March 15 of the calendar year after the year [[Organization A:Organization]] which it relates. The Executive’s bonus eligibility will be reviewed on an annual or more frequent basis by the Board and is subject [[Organization A:Organization]] change in the discretion of the Board.

Annual Discretionary Bonus. In addition to your Base Salary, you are eligible to earn an annual discretionary bonus, less statutory and other applicable deductions as required, of up to forty percent (40%) of your base salary earnings actually earned in the applicable calendar year of service (the “Target Bonus Amount”). The payment and amount of the annual bonus is within the sole discretion of the Board of Directors of the Company (the “Board”), based on the determination of the Compensation Committee of the Board of Directors of Parent (the “Compensation Committee”) and will be evaluated in the first quarter of each year in relation to the achievement of corporate objectives for the previous year and subject to the terms and conditions of [Appendix A]. Such objectives will be established annually by the Compensation Committee in its sole discretion. Bonuses are not earned until paid and are contingent upon your continued employment with the Company through the date the bonus is paid. No “pro-rated” or partial bonus will be provided unless provided for in [Sections L through P] below or as otherwise approved by the Board, based on the determination of the Compensation Committee, in its sole discretion.

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.