Bonus Clause Example with 5 Variations from Business Contracts
This page contains Bonus clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Bonus. (a) Performance-Based Bonus. Executive shall be eligible for performance-based bonuses awarded on an annual calendar year basis provided the Company achieves financial objectives established by the Company's management and approved by the Board for such calendar year. Executive shall be provided the opportunity to earn up to an additional 150% of Executive's annual Base Salary then in effect in performance-based bonus compensation for an applicable calendar year. Performance-based bonuses that a...re earned with respect to any calendar year will be payable no later than March 15th of the following calendar year. Notwithstanding anything herein to the contrary, in the event the Company does not achieve the financial objectives approved by the Board for any calendar year, Executive will only be entitled to receive a performance-based bonus pursuant to this Section 3(a) for such calendar year if the Board, in its sole and absolute discretion, elects to pay such a bonus to Executive. (b) If Executive resigns before the last day of a calendar year (other than for a Material Breach (as hereinafter defined)) or is discharged by the Company for Cause before the last day of such calendar year, Executive will not be entitled to receive a performance-based bonus pursuant to Section 3(a) for such calendar year. If Executive's employment terminates prior to the last day of a calendar year for any other reason, Executive shall be entitled to receive a pro rata part of the performance-based bonus for such calendar year pursuant to Section 3(a) only if the Board, in its sole and absolute discretion, elects to pay a pro rata part of the performance-based bonus to Executive. (c) Stock Incentive Plan. Executive shall be eligible to participate in the Company 2010 Stock Plan, through which the Company grants equity award to its key employees, pursuant to the separate terms and conditions of the 2010 Stock Plan, as determined by the Board, in its sole discretion. Any grants made to Executive under the 2010 Stock Plan shall be subject to the terms and conditions of such plan and any applicable award agreements.View More
Variations of a "Bonus" Clause from Business Contracts
Bonus. (a) Performance-Based Bonus. Annual Incentive Plan. Executive shall be eligible for to participate in Douglas's Annual Incentive Plan, through which the Company awards performance-based cash bonuses awarded on an annual calendar year basis provided the Company or its Affiliate, as applicable, achieves financial objectives performance targets established by the Company's management and approved by the Compensation Committee of the Board for such calendar year. Executive shall be provided eligible... to participate at a target bonus level as determined by the opportunity Compensation Committee of the Board from time to earn up to an additional 150% time, which shall be no less than 75% of her Base Salary. Executive's annual Base Salary participation in such plan shall be governed by the terms and conditions of the plan as then in effect in performance-based bonus compensation for an applicable calendar year. Performance-based bonuses that are earned with respect to any calendar year will be payable no later than March 15th of the following calendar year. Notwithstanding anything herein to the contrary, in the event the Company does not achieve the financial objectives approved by the Board for any calendar year, Executive will only be entitled to receive a performance-based bonus pursuant to this Section 3(a) for such calendar year if the Board, in its sole and absolute discretion, elects to pay such a bonus to Executive. (b) effect. If Executive resigns before the last day of a calendar year (other than for a Material Breach (as hereinafter defined)) or is discharged by the Company for Cause (as hereinafter defined) before the last day of such calendar year, Executive will not be entitled to receive a performance-based bonus pursuant to Section 3(a) for such calendar year. If Executive's employment terminates prior to the last day of a calendar year for any other reason, Executive shall be entitled to receive a pro rata part of the performance-based bonus for such calendar year pursuant to Section 3(a) only if the Board, in its sole and absolute discretion, elects to pay a pro rata part of the performance-based bonus to Executive. (c) Stock Incentive Plan. Executive shall be eligible to participate in the Company Douglas's 2010 Stock Plan, Incentive Plan (or any successor plan thereto), through which the Company grants equity award awards to its key employees, pursuant to the separate terms and conditions of the 2010 Stock Plan, such plan, at a target level, as determined by the Board or the Compensation Committee of the Board, in its sole discretion. which shall be no less than 65% of Executive's Base Salary. Any grants made to Executive under the Douglas's 2010 Stock Incentive Plan (or any successor plan thereto) shall be subject to the terms and conditions of such plan and any applicable award agreements. View More
Bonus. (a) Performance-Based Bonus. Annual Incentive Plan. Executive shall be eligible for to participate in Douglas's Annual Incentive Plan, through which the Company awards performance-based cash bonuses awarded on an annual calendar year basis provided the Company or its Affiliate, as applicable, achieves financial objectives performance targets established by the Company's management and approved by the Compensation Committee of the Board for such calendar year. Executive shall be provided eligible... to participate at a target bonus level as determined by the opportunity Compensation Committee of the Board from time to earn up to an additional 150% time, which shall be no less than 75% of her Base Salary. Executive's annual Base Salary participation in such plan shall be governed by the terms and conditions of the plan as then in effect in performance-based bonus compensation for an applicable calendar year. Performance-based bonuses that are earned with respect to any calendar year will be payable no later than March 15th of the following calendar year. Notwithstanding anything herein to the contrary, in the event the Company does not achieve the financial objectives approved by the Board for any calendar year, Executive will only be entitled to receive a performance-based bonus pursuant to this Section 3(a) for such calendar year if the Board, in its sole and absolute discretion, elects to pay such a bonus to Executive. (b) effect. If Executive resigns before the last day of a calendar year (other than for a Material Breach (as hereinafter defined)) or is discharged by the Company for Cause (as hereinafter defined) before the last day of such calendar year, Executive will not be entitled to receive a performance-based bonus pursuant to Section 3(a) for such calendar year. If Executive's employment terminates prior to the last day of a calendar year for any other reason, Executive shall be entitled to receive a pro rata part of the performance-based bonus for such calendar year pursuant to Section 3(a) only if the Board, in its sole and absolute discretion, elects to pay a pro rata part of the performance-based bonus to Executive. (c) Stock Incentive Plan. Executive shall be eligible to participate in the Company Douglas's 2010 Stock Plan, Incentive Plan (or any successor plan thereto), through which the Company grants equity award awards to its key employees, pursuant to the separate terms and conditions of the 2010 Stock Plan, such plan, at a target level, as determined by the Board, in its sole discretion. Board or the Compensation Committee of the Board. Any grants made to Executive under the Douglas's 2010 Stock Incentive Plan (or any successor plan thereto) shall be subject to the terms and conditions of such plan and any applicable award agreements. View More
Bonus. (a) Performance-Based Bonus. Annual Incentive Plan. Executive shall be eligible for to participate in Douglas's Annual Incentive Plan, through which the Company awards performance-based cash bonuses awarded on an annual calendar year basis provided the Company or its Affiliate, as applicable, achieves financial objectives performance targets established by the Company's management and approved by the Compensation Committee of the Board for such calendar year. Executive shall be provided eligible... to participate at a target bonus level as determined by the opportunity Compensation Committee of the Board from time to earn up to an additional 150% time. Executive's participation in such plan shall be governed by the terms and conditions of Executive's annual Base Salary the plan as then in effect in performance-based bonus compensation for an applicable calendar year. Performance-based bonuses that are earned with respect to any calendar year will be payable no later than March 15th of the following calendar year. Notwithstanding anything herein to the contrary, in the event the Company does not achieve the financial objectives approved by the Board for any calendar year, Executive will only be entitled to receive a performance-based bonus pursuant to this Section 3(a) for such calendar year if the Board, in its sole and absolute discretion, elects to pay such a bonus to Executive. (b) effect. If Executive resigns before the last day of a calendar year (other than for a Material Breach (as hereinafter defined)) or is discharged by the Company for Cause (as hereinafter defined) before the last day of such calendar year, Executive will not be entitled to receive a performance-based bonus pursuant to Section 3(a) for such calendar year. If Executive's employment terminates prior to the last day of a calendar year for any other reason, Executive shall be entitled to receive a pro rata part of the performance-based bonus for such calendar year pursuant to Section 3(a) only if the Board, in its sole and absolute discretion, elects to pay a pro rata part of the performance-based bonus to Executive. (c) Stock Incentive Plan. Executive shall be eligible to participate in the Company Douglas's 2010 Stock Plan, Incentive Plan (or any successor plan thereto), through which the Company grants equity award awards to its key employees, pursuant to the separate terms and conditions of the 2010 Stock Plan, such plan, at a target level, as determined by the Board, in its sole discretion. Board or the Compensation Committee of the Board. Any grants made to Executive under the Douglas's 2010 Stock Incentive Plan (or any successor plan thereto) shall be subject to the terms and conditions of such plan and any applicable award agreements. View More
Bonus. (a) Performance-Based Bonus. Annual Incentive Plan. Executive shall be eligible for to participate in Douglas's Annual Incentive Plan, through which the Company awards performance-based cash bonuses awarded on an annual calendar year basis provided the Company or its Affiliate, as applicable, achieves financial objectives performance targets established by the Company's management and approved by the Compensation Committee of the Board for such calendar year. Executive shall be provided eligible... to participate at a target bonus level as determined by the opportunity Compensation Committee of the Board from time to earn up to an additional time, which shall be no less than 150% of his Base Salary. Executive's annual Base Salary participation in such plan shall be governed by the terms and conditions of the plan as then in effect in performance-based bonus compensation for an applicable calendar year. Performance-based bonuses that are earned with respect to any calendar year will be payable no later than March 15th of the following calendar year. Notwithstanding anything herein to the contrary, in the event the Company does not achieve the financial objectives approved by the Board for any calendar year, Executive will only be entitled to receive a performance-based bonus pursuant to this Section 3(a) for such calendar year if the Board, in its sole and absolute discretion, elects to pay such a bonus to Executive. (b) effect. If Executive resigns before the last day of a calendar year (other than for a Material Breach (as hereinafter defined)) or is discharged by the Company for Cause (as hereinafter defined) before the last day of such calendar year, Executive will not be entitled to receive a performance-based bonus pursuant to Section 3(a) for such calendar year. If Executive's employment terminates prior to the last day of a calendar year for any other reason, Executive shall be entitled to receive a pro rata part of the performance-based bonus for such calendar year pursuant to Section 3(a) only if the Board, in its sole and absolute discretion, elects to pay a pro rata part of the performance-based bonus to Executive. (c) Stock Incentive Plan. Executive shall be eligible to participate in the Company Douglas's 2010 Stock Plan, Incentive Plan (or any successor plan thereto), through which the Company grants equity award awards to its key employees, pursuant to the separate terms and conditions of the 2010 Stock Plan, such plan, at a target level, as determined by the Board, in its sole discretion. Board or the Compensation Committee of the Board. Any grants made to Executive under the Douglas's 2010 Stock Incentive Plan (or any successor plan thereto) shall be subject to the terms and conditions of such plan and any applicable award agreements. View More
Bonus. (a) Performance-Based Bonus. Executive shall be eligible for performance-based bonuses awarded on an annual calendar year basis provided the Company achieves financial objectives established by the Company's management and approved by the Board for such calendar year. Executive shall be provided the opportunity to earn up to an additional 150% of Executive's annual Base Salary then in effect $300,000.00 maximum in performance-based bonus compensation for an applicable in any calendar year. Perfo...rmance-based bonuses that are earned with respect to any calendar year will be payable no later than March 15th 15 of the following calendar year. Notwithstanding anything herein to the contrary, in the event the Company does not achieve the financial objectives approved by the Board for any calendar year, Executive will only be entitled to receive a performance-based bonus pursuant to this Section 3(a) for such calendar year if the Board, in its sole and absolute discretion, elects to pay such a bonus to Executive. (b) If Executive resigns before the last day of a calendar year (other than for a Material Breach (as hereinafter defined)) or is discharged by the Company for Cause before the last day of such calendar year, Executive will not be entitled to receive a performance-based bonus pursuant to Section 3(a) for such calendar year. If Executive's employment terminates prior to the last day of a calendar year for any other reason, Executive shall be entitled to receive a pro rata part of the performance-based bonus for such calendar year pursuant to Section 3(a) only if the Board, in its sole and absolute discretion, elects to pay a 3(a). Such pro rata part of shall equal the total performance-based bonus to Executive. (c) Stock Incentive Plan. that would have been payable had Executive shall be eligible to participate in the Company 2010 Stock Plan, through which the Company grants equity award to its key employees, pursuant to the separate terms and conditions of the 2010 Stock Plan, as determined by the Board, in its sole discretion. Any grants made to Executive under the 2010 Stock Plan shall be subject to the terms and conditions remained employed for all of such plan calendar year multiplied by a fraction, the numerator of which is the number of days elapsing in such calendar year through the date Executive's employment terminates and any applicable award agreements. the denominator of which is 365. View More
