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Between Target and Maximum
Between Target and Maximum contract clause examples
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Target Bonus. Effective as of the Effective Date and for the remainder of the Employment Term, Executive will be eligible to receive an annual bonus of up to 45% of Executive’s Base Salary upon achievement of performance objectives to be determined by the Board or its authorized committee (the “Committee”) in its sole discretion, with reasonable input from Executive (the “Target Bonus”). For calendar year 2021, the achieved Target Bonus will be pro-rated for the portion of the calendar year that Executive is actually employed by the Company under the terms of this Agreement. The achieved portion of Executive’s Target Bonus will be paid, less applicable withholdings, as soon as practicable after the Board or Committee determines that the Target Bonus has been earned, but in no event shall the Target Bonus be paid after the later of # the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which the Target Bonus is earned or # March 15 following the calendar year in which the Target Bonus is earned.

Bonus. During the Term, Executive will be eligible to participate in an annual incentive program established by the Board. Executive’s annual incentive compensation under such incentive program (the “Annual Bonus”) shall be targeted at 40% of Executive’s Annual Base Salary (such target, as may be adjusted by the Board from time to time, the “Target Bonus”). The Annual Bonus payable under the incentive program shall be based on the achievement of performance goals to be determined by the Board. The payment of any Annual Bonus pursuant to the incentive program shall be subject to Executive’s continued employment with the Company through the date of payment, except as otherwise provided in Section 4(b).

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 one hundred percent (100%) of Base Salary (the “Target Bonus”), with an opportunity to earn up to two hundred percent (200%) 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).

Bonus. For each calendar year during the Term, the Executive shall also be eligible to receive a bonus (the "Bonus") with a target opportunity equal to up to 75% of Base Salary (the "Target Bonus"), and subject to a maximum bonus payment in an amount, determined based on the achievement of performance targets (both financial and qualitative) established each year by the Board. Further, if the Company establishes a bonus plan or program in which the Company's executives are generally permitted to participate, then the Executive shall be entitled to participate in such plan or program. The terms and conditions of the Executive's participation in, and/or any award under, any such plan or program shall be in accordance with the controlling plan or program documents.

Bonus. Executive shall participate in any bonus plan that the Board or its designee may approve for similarly-situated employees of the Company. Executive’s target bonus under the Company’s annual bonus plan shall be thirty percent (30%) of Executive’s base salary (the “Target Bonus”). Except as expressly provided in this Agreement or in the terms of the annual bonus plan, and subject to Section 4(b)(ii) below, Executive’s receipt of an annual bonus shall be conditioned on Executive’s continued employment with the Company on the date such annual bonus is paid. Notwithstanding the foregoing, Executive’s annual bonus for 2020 shall in no event be less than his Target Bonus for such year and shall be paid on or before March 15, 2021.

Bonus. For each calendar year during the Term, beginning with the 2019 calendar year, the Executive shall also be eligible to receive a bonus (the "Bonus") with a target opportunity equal to up to 75% of Base Salary (the "Target Bonus"), and subject to a maximum bonus payment in an amount, determined based on the achievement of performance targets (both financial and qualitative) established each year by the Board. Further, if the Company establishes a bonus plan or program in which the Company's executives are generally permitted to participate, then the Executive shall be entitled to participate in such plan or program. The terms and conditions of the Executive's participation in, and/or any award under, any such plan or program shall be in accordance with the controlling plan or program documents.

Bonus. During the Term, the Executive will be eligible to participate in an incentive program established by the Board. Executive’s bonus compensation under such incentive program shall be targeted at One Hundred Fifty Thousand Dollars ($150,000) (the “Target Bonus Amount”) each calendar year (pro-rated for 2019) to be awarded based on successfully delivering the goals set by the Board each year during the Term, which may include such key metrics as the Company’s achievement of a revenue target, EBITDA target and key performance indicators to be determined by the Board in consultation with Executive (collectively, the “Financial Targets”); provided that, Executive’s bonus compensation under such incentive program for 2019 shall be prorated based on the number of days Executive is actually employed in 2019. Seventy percent (70%) of Executive’s bonus compensation shall be based on the Company’s achievement of the Financial Targets, and thirty percent (30%) shall be determined by the Board in its sole discretion. Annual bonuses will be paid by March 31 of the year following the year on which the bonus is based, and except as set forth in Section 4, the payment of any bonus pursuant to the incentive program shall be subject to Executive’s continued employment with the Company through the date of payment in accordance with applicable laws.

Bonus. Executive will be eligible to receive a bonus targeted annually at 45% of Executive’s then-current Base Salary (the “Bonus”); provided that any Bonus for the first year of employment will be prorated based on the Start Date. Any Bonus may be based on achievement of performance goals set by the Committee with consultation with Executive and the Committee’s assessment of achievement of those performance goals as well as the terms and conditions of any applicable bonus plan approved by the Committee. Executive’s receipt of any achieved amount of the Bonus is subject to Executive’s continued employment with the Company through the applicable payment date, and such amount will not be earned if Executive’s employment with the Company terminates for any reason or no reason prior to the applicable payment date. The achieved amount of Executive’s Bonus for any year will be payable no later than March 15th of the year following the year in which such amount is earned.

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