Example ContractsClausesIncentive and Bonus Compensation
Incentive and Bonus Compensation
Incentive and Bonus Compensation contract clause examples

Incentive Compensation/Bonus. Executive shall be eligible to receive an annual cash bonus (“Annual Bonus”) based upon satisfactory achievement of personal performance objectives and business performance objectives (collectively “Key Performance Objectives”) as shall be determined by the Company and the Executive. The Annual Bonus shall be payable to the Executive on or before March 15th of the immediately following calendar year. In order to be eligible for an Annual Bonus, the Executive shall be actively employed on the last business day of the applicable calendar year. (For the avoidance of doubt, if the effective date of termination of the Executive’s employment with the Company occurs after the last business day of the applicable calendar year but before the payment of the Annual Bonus, the Company shall continue to be obligated to pay the Executive the full amount of the Annual Bonus which has been earned by the Executive as of the end of such calendar year.)

Bonus and Incentive Compensation. Executive will not be eligible for any bonus payment in respect of 2020 or any later calendar year. Executive will not be eligible for any new grants of long-term incentive awards, but any previously granted long-term incentive awards will remain outstanding and continue to vest while Executive is employed in accordance with the terms of the governing plan and award agreement.

Incentive and Bonus Compensation. During the Term hereof, the Executive shall be entitled to participate in the Company’s annual cash incentive program in accordance with the terms thereof, as such program or terms may be modified or amended by the Company from time to time; provided, however, that nothing contained herein shall obligate the Company to continue such program or any particular terms of such program. The Executive’s target annual cash incentive bonus under the Company’s annual cash incentive program is 50% of her Base Salary, with the actual bonus, if any, to be determined by the Board or Committee in accordance with the terms of the annual cash incentive program then in effect. Such target may be modified by the Board or the Committee from time to time, in its sole discretion.

Bonus and Incentive Compensation. The Executive shall be eligible to participate in any applicable bonus programs as may be implemented by the Company during the course of Executive’s employment and in accordance with the terms of any such bonus program including that certain executive annual incentive bonus program, or any replacement bonus program for executives of the Company. The decision to provide bonus compensation and the amount and terms of any such bonuses shall be in the sole and absolute discretion of the Company.

Incentive and Bonus Compensation. During the Term hereof, the Executive shall be entitled to participate in the Company’s annual cash incentive program in accordance with the terms thereof, as such program or terms may be modified or amended by the Company from time to time; provided, however, that nothing contained herein shall obligate the Company to continue such program or any particular terms of such program. The Executive’s target annual cash incentive bonus under the Company’s annual cash incentive program is 50% of his Base Salary, with the actual bonus, if any, to be determined by the Board or Committee in accordance with the terms of the annual cash incentive program then in effect. Such target may be modified by the Board or the Committee from time to time, in its sole discretion.

Incentive and Bonus Compensation. During the Term hereof, the Executive shall be entitled to participate in the Company’s annual cash incentive program in accordance with the terms thereof, as such program or terms may be modified or amended by the Company from time to time; provided, however, that nothing contained herein shall obligate the Company to continue such program or any particular terms of such program. The Executive’s target annual cash incentive bonus under the Company’s annual cash incentive program is 40% of his/her Base Salary, with the actual bonus, if any, to be determined by the Board or Committee in accordance with the terms of the annual cash incentive program then in effect. Such target may be modified by the Board or the Committee from time to time, in its sole discretion.

Incentive Bonus. During the Agreement Period, Executive shall be eligible to participate in the Incentive Bonus Plan in effect for officers and executives of the Company (the “Incentive Bonus Plan”), under which Executive will receive a performance-based bonus the amount of which, if any, will be determined and paid based upon satisfaction of criteria determined for each calendar year for officers and executives by the Compensation and Talent Committee, provided the Executive is employed by the Company at the time payment is due. During the Agreement Period, Executive’s stated payout percentage under the Incentive Bonus Plan will be a target of 40% of Base Salary, prorated for the portion of the fiscal year during which Executive is employed by the Company. Any bonus amounts payable to Executive under the Incentive Bonus Plan shall be paid to Executive at the same time as annual bonuses are paid to the Company’s other executive officers after the end of the year in which the bonus was earned.

Incentive Bonus. As an incentive to Executive Vice President for her continuing services and contributions to the growth and profitability of Bank, Executive Vice President shall be paid, in addition to her Adjusted Base Compensation, an Incentive Bonus as follows:

Incentive Bonus. As an incentive to Chairman of the Board for his continuing services and contributions to the growth and profitability of Bank, Chairman of the Board shall be paid, in addition to his Adjusted Base Compensation, an Incentive Bonus as follows:

Incentive Bonus. Executive shall have the opportunity to receive an annual incentive bonus pursuant to the terms and conditions of the annual incentive plan approved from time to time by the Compensation Committee of the Board, provided that Executive’s annual target bonus opportunity (the “Target Bonus”) for periods from and after the Effective Date shall be 115% of Executive’s Salary. Any bonus will be paid in the calendar year following the calendar year to which such bonus relates at such time bonuses are paid to the Company’s senior executives generally and will be subject to the terms and conditions of the Company’s annual incentive plan as in effect for the applicable year (including, but not limited to, provisions regarding forfeiture of bonus entitlement upon termination of employment).

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