Example ContractsClausesconditions to receipt of annual bonusVariants
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Annual Bonus. For each complete calendar year, Employee shall be eligible to earn 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 sole and absolute 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 Annual Bonus shall be reviewed at least annually by the Company’s Board of Directors (the “Board”) and may increase (but not decrease) at the Board’s sole and absolute discretion.

“(c) Annual Bonus. For each complete calendar year,year starting with the year ended 2023, Employee shall be eligible to earn an annual bonus (the “Annual Bonus”) of up to 45%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.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 sole and absolute 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 Annual Bonus shall be reviewed at least annually by the Company’s Board of Directors (the “Board”) and may increase (but not decrease) at the Board’s sole and absolute discretion.

Annual Bonus. For each complete calendar year, Employee shall be eligible to earn an annual bonus (the “Annual Bonus”) of up to 45%50% of the Base Salary (the “Annual Bonus Target”) 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 determinationAnnual Incentive Compensation Plan, as the same may be amended from time 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 sole and absolute 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.time. Employee must be fully and actively employedemployed, in good standing, 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 Annual Bonus shall be reviewed at least annually by the Company’s Board of Directors (the “Board”) and may increase (but not decrease) at the Board’s sole and absolute discretion.

Annual Bonus. For each complete calendar year,Bonus Opportunity. Employee shall be eligible to earnreceive an annual incentive bonus (the “Annual Bonus”) of up to 45%opportunity under the Company’s annual incentive plan for each calendar year included in the Employment Term during which Employee is an employee of the Company, including for calendar year a full year annual bonus taking into consideration the above Annual Base Salary in accordance with Company policy and procedure for grantingsuch opportunity to be earned based upon attainment of a management specified employee bonus, based on achievement of Company and individual performance targets that will be setobjectives established by the Company as part of the annual budget process and within the Company’Board or a committee thereof ("Annual Bonus"). Employee'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 sole and absolute 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. Thetarget Annual Bonus shall be 110% of the Employee's then current Annual Base Salary and Employee’s maximum Annual Bonus shall be 200% of the Employees’ current target Annual Bonus (the Annual Bonus is referred to as the "Annual Bonus Opportunity"). Employee's Annual Bonus Opportunity may be periodically reviewed at least annuallyand increased by the Company. Employee’s Annual Bonus is subject to any Company policy. If owed pursuant terms of the plan, the Annual Bonus shall be paid no later than the March 15th first following the calendar year to which the Annual Bonus relates. Except as otherwise provided otherwise herein or by the Company Board or a committee thereof, no Annual Bonus shall be paid to Employee unless Employee is employed by the Company or an affiliate thereof, on the last day of the measurement period; provided, however, that Employee shall remain eligible for a pro-rata Annual Bonus based on Employee’s period of employment with the Company during the final year of the Employment Term, if the Employment Term ends prior end of the calendar year by the Company’s Board of Directors (the “Board”)decision not to renew the Agreement, or by not offering to renew the agreement on substantially similar terms and may increase (but not decrease) at the Board’s sole and absolute discretion.conditions;

Annual Bonus. For each complete calendar year,The Employee shall be eligibleentitled to earn ana discretionary bonus payment for each calendar year that ends during the Employment, with a target annual bonus (the “Annual Bonus”) of up to 45%amount at 55% of the Base Salary paid in accordance with Company policysuch calendar year (the “Annual Bonus”). Whether to grant an Annual Bonus, 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 asin what amount, are determinations 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 sole and absolute discretion of the Company. AnyCompany based on a variety of factors including, but not limited to, achievement of objectives established by the Board (and/or the Compensation Committee thereof (the “Compensation Committee”)) and specific annual objectives for your position set by the Board and/or the Compensation Committee. Since one of the objectives of the Annual Bonus so determined shall be paidis employee retention, 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 policyorder to remain eligible and procedure. Employeereceive any Annual Bonus, you must be fully and actively employed asthrough the end of the payment datecalendar year and must not have provided notice of termination for any reason prior to the payment date tostill be entitled to the Annual Bonus. The Annual Bonus shall be reviewed at least annuallyemployed by the Company’s Board of Directors (the “Board”) and may increase (but not decrease)Company at the Board’s sole and absolute discretion.time it makes bonus payments to employees for that year -- generally during the first quarter of the following year.”

Annual Bonus. For each completeEach calendar year, Employee shallExecutive will be eligible to earn an annualadditional cash bonus (the “Annual Bonus”)with a target bonus of up to 45%fifty percent (50%) of the Base Salary in accordance with Company policy and procedure for granting(the “Annual Bonus”), based upon the Board’s assessment of a management specified employee bonus, based on achievement of Company andExecutive’s individual performance targets that will beand the Company’s attainment of targeted goals as set by the Company as part of the annual budget process and within the Company’sBoard in its sole discretion. The determination as to whether applicable targets have been achieved, and whether and to what extent anyactual amount of such Annual Bonus is towill be paid with respect to such targets, shall be made indetermined by the sole and absolute discretionBoard (or a committee of the Company. Any Annual Bonus so determined shall be paidBoard) in the monthits sole discretion. Your receipt 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 Annual Bonus shall be reviewed at least annuallyconditioned upon your achievement of performance objectives set by the Company’s Board in writing after consultation with you in the applicable calendar year. The Board will determine in its sole discretion whether such performance objectives have been achieved. The Annual Bonus for any given year will be payable between January 1 and March 15 in the year immediately following the year to which the performance relates. An Annual Bonus will not be earned if your employment ends for any reason before the final day of Directors (the “Board”) and may increase (but not decrease) at the Board’s sole and absolute discretion.bonus year.

Annual Bonus. For each complete calendar year, Employee shall be eligible to earnEligibility for 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 tobased on financial and performance criteria established by Company and approved in the annual budget, and will be paid with respect to such targets, shall be made in the sole and absolute 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 elect15 each calendar year following the year in accordance with Company policy and procedure. Employee must be fully and actively employed as ofwhich 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 AnnualBonus was earned. For Calendar Year , Employee’s Target Bonus shall be reviewed at least annually; of this amount, shall be guaranteed, and shall be based on MBO’s based on Employee’s individual performance, as established by Employee and his manager upon his employment. Subsequent to Calendar Year , Employee’s Target Bonus shall be 100% of his Base Salary. The payment of any Bonus shall be within the Company’s Board of Directors (the “BoardShort-Term Deferral period under the Internal Revenue Code Section 409A (“[Section 409A]) and may increase (but not decrease) at the Board’s sole and absolute discretion.applicable regulations.

Annual Bonus. For each complete calendar year,In addition to the Base Salary, Employee will be eligible for an annual performance bonus, to be payable upon achievement of performance goals and objectives to be mutually agreed upon by the Employee and the Company’s Board of Directors in advance of the relevant performance period. The Employee shall be eligibleentitled to earn an annual bonus (the “Annual Bonus”) of up to 45% oftwice (2x) 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 sole and absolute 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 priorgiven year subject to the payment date to be entitled to the Annual Bonus. The Annual Bonus shall be reviewed at least annually by the Company’s Board of Directors (the “Board”) and may increase (but not decrease) at the Board’s sole and absolute discretion.following performance criteria:

Annual Bonus. For calendar year and each completesubsequent calendar year,year that ends during the Term, Employee shallwill be eligible to earnreceive an annual performance-based cash bonus (the Annual Bonus“Annual Bonus”). The payment and amount of upany Annual Bonus will be determined by the Board or the Compensation Committee thereof (excluding Employee, if then a Board member), in its sole and absolute discretion, pursuant to 45%the Company’s Executive Annual Incentive Plan or another bonus plan established by the Company, and conditioned upon the achievement of mutually agreed upon objectives for Employee and for the Company established at the beginning of each calendar year, with a target Annual Bonus equal to sixty percent (60%) 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 individual100% of the performance targets that willobjectives. Any dispute regarding whether Employee has met the objectives shall be setdetermined by the Company as part ofBoard or 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 madeCompensation Committee thereof (excluding Employee, if then a Board member) in the exercise of its sole and absolute 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 Annual Bonus shall be reviewed at least annually by the Company’s Board of Directors (the “Board”) and may increase (but not decrease) at the Board’s sole and absolute discretion.

Annual Bonus. ForDuring the Term, the Executive shall be entitled to participate in the Company’s executive bonus plan, under which a discretionary bonus (the “Annual Bonus”) may be awarded by the Board for each complete calendar year, Employee shallpayable in cash in accordance with, and subject to the terms and conditions of, the Company’s then applicable short-term bonus or other cash incentive program (each, a “Bonus Program”). The Executive’s aggregate target bonus award for each calendar year will be eligible to earn an annual bonus (the “Annual Bonus”)30% of up to 45% of thehis then Base Salary in accordance with Company policy(the “Target Annual Bonus”). The Executive’s actual Annual Bonus may range from a minimum amount of 0% to a maximum of 30% of his Base Salary, and procedure for granting of a management specified employee bonus, based on achievement of Company and individual performance targets that will be setdetermined by the Company as partand will be contingent upon the attainment of performance goals reasonably established in good faith by the annual budget process and within the Company’s sole discretion.Company. The determination as to whether applicable targets have been achieved, and whether and to what extenttarget date for any Annual Bonus iscompensation payable to be paid with respect to such targets,the Executive shall be madeMarch 15 of the calendar year following the calendar year to which such Annual Bonus relates, subject to the approvals required above. Such Annual Bonuses, if any, are awarded in part to incentivize the Executive to remain in the sole and absolute discretionCompany’s employ, therefore it is a condition of any award that the Company. AnyExecutive remain employed by the Company through the date the Annual Bonus so determined shall be paidis paid, except as set forth 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 Annual Bonus shall be reviewed at least annually by the Company’s Board of Directors (the “Board”) and may increase (but not decrease) at the Board’s sole and absolute discretion.[Section 5] herein.

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