Annual Bonus Clause Example from Business Contracts

Annual Bonus. You will be eligible to earn an annual performance bonus of up to 40% of your base salary rate (the "Annual Bonus"). The Annual Bonus will be based upon the Company's assessment of your performance and the Company's attainment of written targeted goals as set by the Company in its sole discretion. Bonus payments, if any, will be subject to applicable payroll deductions and withholdings. Following the close of each calendar year, the Company will determine whether you have earned an Annual Bonus,... and the amount of any such bonus, based on the achievement of such goals. No amount of Annual Bonus is guaranteed, and you must be an employee on the Annual Bonus payment date to be eligible to receive an Annual Bonus; no partial or prorated bonuses will be provided. The Annual Bonus, if earned, will be paid no later than March 15 of the calendar year after the applicable bonus year. View More