Example ContractsClausesbetween target and maximumVariants
Between Target and Maximum
Between Target and Maximum contract clause examples

Each Participant will have a target incentive bonus for each fiscal year during the term of this Plan stated as a percentage of his or her annual base salary (the “Target Bonus Percentage”). Bonus payments under this Plan, if any, shall be paid based on performance measurements determined at the end of each year. Bonuses are based on Company and individual performances for the entire year.

Participant’s Annual Incentive Target Bonus. A Participant’s annual incentive bonus opportunity is established as a percentage of his or her base salary (“Target Bonus”). Participants will be notified of their Target Bonus during the first quarter of a Plan Year or as reasonably practical after the commencement of the Plan Year (or, for new hires or transfers into eligible positions during the year, at or around the time of such eligibility) or after any amendment to the Plan. In addition to continued employment, the Target Bonus is earned on the basis of financial targets and individual performance, as described below. In no event may a Participant earn more than 150% of his or her Target Bonus.

Participant’s Annual Incentive Target Bonus and Payout Calculation -- A Participant’s annual incentive bonus opportunity is established as a percentage of his or her base pay (“Target Bonus”). Participants will be notified of their target bonus during the first quarter of a Plan Year or as reasonably practical thereafter (or, for new hires or transfers into eligible positions during the year, at or around the time of such eligibility) or after any amendment to the Plan. Employees whose job classification is changed during the plan year such that the new job title qualifies for a higher or lower target bonus and/or the Participant is subject to a different Division EBITDA and/or Revenue target shall have their annual bonus pro-rated to reflect the time in each position according to the applicable target(s).

Each Participant’s bonus, if any, will be calculated based on the Participant’s Target Bonus and Bonus Earnings Basis, calculated in relation to the Company’s performance toward the relevant Achievement Metrics and a discretionary assessment of the Participant’s contributions during the Plan Year, as set forth below:

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