Annual Bonus Clause Example from Business Contracts

Annual Bonus. For each fiscal year of the Company, you will have the opportunity to earn a target annual cash bonus equal to thirty percent (30%) (increasing to forty percent (40%) effective beginning for the Company's fiscal 2021 bonus period) of your annual base salary earned during the fiscal year, based on achieving performance objectives established by the Board or the Committee, as applicable, in its sole discretion and payable upon achievement of those objectives as determined by the Committee. Unless ...determined otherwise by the Board or Committee, as applicable, (i) any such bonus will be subject to your continued employment through and until the date of payment and (ii) any bonus for the fiscal year in which you commence employment with the Company will be prorated based on the period during such fiscal year that you are employed with the Company. Any such bonus amounts paid will be subject to any applicable withholdings. Your annual bonus opportunity and the applicable terms and conditions may be adjusted from time to time by our Board or the Committee, as applicable, in its sole discretion. View More