Annual Bonus Clause Example from Business Contracts

Annual Bonus. For each Company fiscal year commencing with the fiscal year beginning on January 1, 2019, you will have the opportunity to earn a target annual cash bonus equal to 75% 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. With respect to the period between July 2, 2018 and December 31, 2018..., you will be eligible to receive a target bonus equal to 75% of your base salary earned during the period between July 2, 2018 and December 31, 2018, 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, any such bonus will be subject to your continued employment through and until the date of payment. Your bonus opportunity and the applicable terms and conditions may be adjusted from time to time by the Board or the Committee, as applicable, in its sole discretion. View More