Annual Bonus Clause Example from Business Contracts
This example Annual Bonus clause appears in
4 contracts
from
1 company
Annual Bonus. Your current target fiscal year annual cash bonus target is 40% of your annual base salary. Upon the IPO Effective Date, your annual cash bonus target will be 40% of your annual base salary earned during the fiscal year (the "New Bonus Opportunity"), 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. For the avoidance of doubt, your New Bonus Op...portunity shall apply to the fiscal year in which the IPO Effective Date occurs. 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) if your employment commenced in the second half of our fiscal year, 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
