Bonus Entitlements Sample Clauses

The Bonus Entitlements clause defines the conditions under which an employee or party is eligible to receive additional compensation beyond their standard pay. Typically, this clause outlines the criteria for earning a bonus, such as achieving specific performance targets, company profitability, or meeting project milestones, and may specify the timing and method of bonus payments. Its core practical function is to incentivize desired behaviors or outcomes by clearly establishing when and how bonuses are awarded, thereby motivating performance and reducing ambiguity regarding extra compensation.
Bonus Entitlements. Employee will be eligible to participate in the Company bonus program. Employee’s annual bonus eligibility will be up to 50% of base salary. Bonus criteria will be set annually by Company and the terms of the bonus plan, including the percentages set out above, may be modified by Company at its discretion.
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Bonus Entitlements. The Executive will also be entitled to receive, in respect of each fiscal year of the Company, an annual cash bonus in an amount of up to fifty per cent (50%) of the Executive’s Basic Salary (the “Annual Cash Bonus”) based upon the Executive’s achievement of certain milestones and objectives (the “Bonus Targets”) mutually agreed by the Executive and the Board acting reasonably. The Bonus Targets and the Annual Cash Bonus will both be commensurate with the bonus targets and the annual cash bonuses established for the Chief Executive Officer, and the Chief Operating Officer of the Company and its subsidiaries. During the term of this Agreement, the Company will review the Annual Cash Bonus at least annually to ensure that it is commensurate with the annual cash bonuses paid to the Chief Executive Officer, and the Chief Operating Officer of the Company and its subsidiaries, provided that the Annual Cash Bonus will not be reduced.
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Bonus Entitlements. The expected cost of bonus payments shall be recognised as a liability when the Target Group Companies have a present legal or constructive obligation as a result of services rendered by employees and a reliable estimate of the obligation can be made. Liabilities for bonus shall be expected to be settled within 12 months and are measured at the amounts expected to be paid when they are settled.
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Bonus Entitlements. The Parties agree that, except as expressly set forth in this Agreement and any annual bonus earned by Executive for 2023 in accordance with the terms of any applicable bonus plan, Executive shall not be entitled to receive any other compensation from the Released Parties. Notwithstanding the above, subject to applicable performance criteria, Executive shall be entitled to any annual bonus earned for the calendar year of 2023 as well as any prorated bonus earned in 2024 through the last day of the CEO Term and shall be entitled to payment of both bonuses no matter when the bonuses are paid. Executive shall not be entitled to any bonus, prorated or otherwise, following the end of the CEO Term.
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Bonus Entitlements. Subject to such changes to this Section as may be made from time to time by the Board of Directors of the Company, bonus compensation shall include a target bonus amount equal to 40% of base compensation and subject to a maximum bonus amount equal to 80% of base compensation and a minimum bonus amount equal to 0% of base compensation. All calculations shall be determined by the Company’s internal or independent accountants and shall be approved by the Board of Directors, which determination shall be final and binding on Employee.
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Related to Bonus Entitlements

  • No Entitlements (1) Neither the Plan nor the Award Agreement confer on the Participant any right or entitlement to receive compensation, including, without limitation, any base salary or incentive compensation, in any specific amount for any future fiscal year (including, without limitation, any grants of future Awards under the Plan), nor impact in any way the Company Group’s determination of the amount, if any, of the Participant’s base salary or incentive compensation. This Award of RSUs made under this Award Agreement is completely independent of any other Awards or grants and is made at the sole discretion of the Company. The RSUs do not constitute salary, wages, regular compensation, recurrent compensation, pensionable compensation or contractual compensation for the year of grant or any prior or later years and shall not be included in, nor have any effect on or be deemed earned in any respect, in connection with the determination of employment-related rights or benefits under law or any employee benefit plan or similar arrangement provided by the Company Group (including, without limitation, severance, termination of employment and pension benefits), unless otherwise specifically provided for under the terms of such plan or arrangement or by the Company Group. The benefits provided pursuant to the RSUs are in no way secured, guaranteed or warranted by the Company Group. (2) The RSUs are awarded to the Participant by virtue of the Participant’s employment with, and services performed for, the Company Group. The Plan or the Award Agreement does not constitute an employment agreement. Nothing in the Plan or the Award Agreement shall modify the terms of the Participant’s employment, including, without limitation, the Participant’s status as an “at will” employee of the Company Group, if applicable. (3) Subject to any applicable employment agreement, the Company reserves the right to change the terms and conditions of the Participant’s employment, including the division, subsidiary or department in which the Participant is employed. None of the Plan or the Award Agreement, the grant of RSUs, nor any action taken or omitted to be taken under the Plan or the Award Agreement shall be deemed to create or confer on the Participant any right to be retained in the employ of the Company Group, or to interfere with or to limit in any way the right of the Company Group to terminate the Participant’s employment at any time. Moreover, the Separation from Service provisions set forth in Section (C) or (D), as applicable, only apply to the treatment of the RSUs in the specified circumstances and shall not otherwise affect the Participant’s employment relationship. By accepting this Award Agreement, the Participant waives any and all rights to compensation or damages in consequence of the termination of the Participant’s office or employment for any reason whatsoever to the extent such rights arise or may arise from the Participant’s ceasing to have rights under, or be entitled to receive payment in respect of, any unvested RSUs that are cancelled or forfeited as a result of such termination, or from the loss or diminution in value of such rights or entitlements, including by reason of the operation of the terms of the Plan, this Award Agreement or the provisions of any statute or law to taxation. This waiver applies whether or not such termination amounts to a wrongful discharge or unfair dismissal.

  • Basic entitlement 7.4.2(a) After twelve months continuous service, parents are entitled to a combined total of 52 weeks unpaid parental leave on a shared basis in relation to the birth or adoption of their child. For females, maternity leave may be taken and for males, paternity leave may be taken. Adoption leave may be taken in the case of adoption.

  • Leave Entitlements (a) A sessional practitioner will be entitled to pro rata leave entitlements in the same ratio as the number of sessions allocated bears to 10. If during any qualifying period the number of sessions allocated to a sessional practitioner varies, the number will be averaged over the qualifying period. (b) A sessional practitioner will be entitled to paid public holidays in accordance with Clause 35 – Public Holidays if the public holidays occur on a day on which a session is normally worked. If a sessional practitioner is required to work on a public holiday the provisions of Clause 32 – Shift, Weekend and Public Holiday Penalties subclause (5) will apply.

  • Entitlements Every employee (a) who, (i) becomes the natural parent of a child, or assumes actual care and custody of their new born child, or (ii) adopts a child under the law of a province; and (b) who has completed their probationary period or seven consecutive months of employment, whichever comes first; and (c) who submits to the Co-operative an application in writing for parental leave where possible at least four (4) weeks before the day specified in the application as the day on which the employee intends to commence the leave; is entitled to, and shall be granted parental leave, consisting of a continuous period of up to sixty-three (63) weeks.

  • Benefit Entitlement When an employee is on a WCB claim all benefits of the Agreement will continue to accrue. However, an employee off work on WCB claim shall receive net wages as defined by (A) above, and benefits equalling but not to exceed their normal entitlement had they not suffered a compensable injury. For the first twenty (20) work days on claim, an employee will accrue paid holidays and vacation credits. Once the claim exceeds twenty (20) work days, paid holidays and vacation credits will not accrue. However, unused vacation credits accrued prior to the claim shall not be lost as a result of this clause.