Example ContractsClausesannual performance bonusVariants
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Annual Bonus. Beginning for the 2023 financial year, Employee will be eligible to participate in the Company’s annual performance bonus program (“Bonus Program”), as may be in effect from time to time, and shall be eligible for a bonus in the amount of 75% of Employee’s Salary on an annual basis under the Bonus Program. The objectives, terms, and conditions of the Bonus Program shall be determined in the sole discretion of the Company. The amount and frequency of any bonus payments shall be reviewed at least annually and determined in the sole discretion of the Company. The Company reserves the right, in its sole discretion, to suspend, revoke, or rescind the Bonus Program in part or in whole at any time. Except as otherwise provided in the Bonus Program or this Agreement, in order to receive payment of any bonus (or any portion thereof), Employee must be an employee of the Company on the date such bonus is paid, and Employee must not have given notice of the termination of Employee’s employment without Good Reason (as defined in [Section 5.1(d)] of this Agreement) or received notice of the termination for Cause of Employee’s employment by the Company.

Annual Bonus. Beginning for the 2023 financialFor each complete calendar year, Employee willshall be eligible to participateearn an annual bonus (the “Annual Bonus”) of up to 50% of the Base Salary (the “Annual Bonus Target”) in accordance with the Company’s annual performance bonus program (“Bonus Program”),Annual Incentive Compensation Plan, as the same may be in effectamended from time to time, and shall be eligible for a bonus in the amount of 75% of Employee’s Salary on an annual basis under the Bonus Program. The objectives, terms, and conditions of the Bonus Program shall be determined in the sole discretion of the Company. The amount and frequency of any bonus payments shall be reviewed at least annually and determined in the sole discretion of the Company. The Company reserves the right, in its sole discretion, to suspend, revoke, or rescind the Bonus Program in part or in whole at any time. Except as otherwise provided in the Bonus Program or this Agreement, in order to receive payment of any bonus (or any portion thereof), Employee must be an employeefully and actively employed, in good standing, as of the Company on thepayment date such bonus is paid, and Employee must not have givenprovided notice of the termination of Employee’s employment without Good Reason (as defined in [Section 5.1(d)] of this Agreement) or received notice of the termination for Cause of Employee’s employment byany reason prior to the Company.payment date to be entitled to the Annual Bonus.

Annual Bonus. Beginning for the 2023 financialFor each complete calendar year, Employee willshall be eligible to participateearn an annual bonus (the “Annual Bonus”) of up to 45% of the Base Salary in accordance with Company policy and procedure for granting of a management specified employee bonus, based on achievement of Company and individual performance targets that will be set by the Company as part of the annual budget process and within the Company’s sole discretion. The determination as to whether applicable targets have been achieved, and whether and to what extent any Annual Bonus is to be paid with respect to such targets, shall be made in the Company’s annual performance bonus program (“Bonus Program”), as may be in effect from time to time,sole and shall be eligible for a bonus in the amount of 75% of Employee’s Salary on an annual basis under the Bonus Program. The objectives, terms, and conditions of the Bonus Program shall be determined in the soleabsolute discretion of the Company. Any Annual Bonus so determined shall be paid in the month of March following the applicable bonus year, no later than March 31, less such deductions as are required by law or that Employee may elect in accordance with Company policy and procedure. Employee must be fully and actively employed as of the payment date and must not have provided notice of termination for any reason prior to the payment date to be entitled to the Annual Bonus. The amount and frequency of any bonus paymentsAnnual Bonus shall be reviewed at least annually and determined in the sole discretion of the Company. The Company reserves the right, in its sole discretion, to suspend, revoke, or rescind the Bonus Program in part or in whole at any time. Except as otherwise provided in the Bonus Program or this Agreement, in order to receive payment of any bonus (or any portion thereof), Employee must be an employee of the Company on the date such bonus is paid, and Employee must not have given notice of the termination of Employee’s employment without Good Reason (as defined in [Section 5.1(d)] of this Agreement) or received notice of the termination for Cause of Employee’s employment by the Company.Company’s Board of Directors (the “Board”) and may increase (but not decrease) at the Board’s sole and absolute discretion.

“(c) Annual Bonus. Beginning forFor each complete calendar year starting with the 2023 financial year,year ended 2023, Employee willshall be eligible to participateearn an annual bonus of up to 50% of the Base Salary in accordance with Company policy and procedure for granting of a management specified employee bonus, based on achievement of Company and individual performance targets that will be set by the Company as part of the annual budget process and within the Company’s sole discretion (the “Annual Bonus”). The determination as to whether applicable targets have been achieved, and whether and to what extent any Annual Bonus is to be paid with respect to such targets, shall be made in the Company’s annual performance bonus program (“Bonus Program”), as may be in effect from time to time,sole and shall be eligible for a bonus in the amount of 75% of Employee’s Salary on an annual basis under the Bonus Program. The objectives, terms, and conditions of the Bonus Program shall be determined in the soleabsolute discretion of the Company. The amount and frequency of any bonus paymentsAny Annual Bonus so determined shall be reviewed at least annually and determinedpaid in the sole discretionmonth of March following the Company. Theapplicable bonus year, no later than March 31, less such deductions as are required by law or that Employee may elect in accordance with Company reserves the right, in its sole discretion, to suspend, revoke, or rescind the Bonus Program in part or in whole at any time. Except as otherwise provided in the Bonus Program or this Agreement, in order to receive payment of any bonus (or any portion thereof),policy and procedure. Employee must be an employeefully and actively employed as of the Company on thepayment date such bonus is paid, and Employee must not have givenprovided notice of the termination of Employee’s employment without Good Reason (as defined in [Section 5.1(d)] of this Agreement) or received notice of the termination for Cause of Employee’s employment byany reason prior to the Company.payment date to be entitled to the Annual Bonus.”

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