Performance Bonus; Other Limitations Clause Samples

The 'Performance Bonus; Other Limitations' clause defines the conditions under which an employee or contractor may receive additional compensation based on achieving specific performance targets. Typically, this clause outlines the criteria for earning a bonus, such as meeting sales goals or project milestones, and may also specify caps on the total bonus amount or exclude certain types of compensation from bonus calculations. Its core function is to incentivize high performance while clearly setting boundaries to manage the employer's financial exposure and ensure fairness in bonus distribution.
Performance Bonus; Other Limitations. The Executive shall be entitled to an annual cash bonus on the basis outlined in Exhibit A. The covenants set forth in Exhibit A shall be binding upon the parties to the same extent as if set forth herein.
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Performance Bonus; Other Limitations. The Executive shall be entitled to an initial cash performance bonus for services rendered from the Effective Date through December 31, 2000 (the "Initial Bonus") and to an annual cash performance bonus thereafter for each complete calendar year of employment, PROVIDED, HOWEVER, in the final year of the Initial Term, if Executive works until the last day of the Initial Term and there is no Renewal Term, or, in the final year of the Renewal Term, if Executive works until the last day of the Renewal Term, the Executive shall be entitled to a pro-rata cash performance bonus based on the ratio of (i) the days from the beginning of the last fiscal year of the Company during which the Executive was employed until such last day of employment, to (ii) 365. The amount of each performance bonus shall be based on the determination of the Compensation Committee of the Board (the "Compensation Committee") of the extent to which the performance objectives for such year established pursuant to Exhibit A have been attained. The Compensation Committee shall make such determination and the Company shall pay to the Executive each year's earned performance bonus, if any, as soon as practicable after completion of the Company's audited financial statements for the applicable calendar year, and in no event after March 15 of the next succeeding calendar year.
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Related to Performance Bonus; Other Limitations

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

  • Performance Bonus The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

  • Annual Performance Bonus During the Employment Term, the Executive shall be entitled to participate in the STIP, with such opportunities as may be determined by the Chief Executive Officer in his sole discretion (“Target Bonuses”), and as may be increased (but not decreased, except for across-the-board reductions generally applicable to the Company’s senior executives) from time to time, and the Executive shall be entitled to receive full payment of any award under the STIP, determined pursuant to the STIP (a “Bonus Award”).

  • Annual Bonus Compensation Executive shall be eligible to receive a bonus each Contract Year (“Annual Bonus”) as the Compensation Committee of the Board of Directors shall determine. Executive’s Annual Bonus shall be determined in accordance with the Company’s executive compensation policies as in effect from time to time during the Term and shall be based, in part, on his achieving his individual performance goals for the year and, in part, on the Company’s achieving its performance goals for the year.

  • Performance Pay In accordance with Section 8 of the General Appropriations Act for Fiscal Year 2020-2021, contingent upon the availability of funds and at the Agency Head’s discretion, each agency is authorized to grant merit pay increases based on the employee’s exemplary performance, as evidenced by a performance evaluation conducted pursuant to Rule 60L-35, Florida Administrative Code.