Performance Bonuses Clause Samples

Performance Bonuses. In addition to the Base Salary, the Company may pay to Executive annual bonuses based on the Company's performance and/or Executive's performance (“Annual Bonus”) as follows:

Performance Bonuses. Employee shall be eligible for yearly bonuses equal to 50% of his annual salary for achieving reasonable goals related to profitability established in the first 30 days of the fiscal year by the Board of Directors and/or the Compensation Committee.

Performance Bonuses. Executive shall be eligible to receive cash bonuses in accordance with this Section 3.2 (each a “Performance Bonus”). Payment of any Performance Bonus will be subject to the sole discretion of the Compensation Committee of the Board (the “Compensation Committee”), and such Performance Bonus shall be determined in the sole discretion of the Compensation Committee. Subject to the foregoing exercise of discretion, Executive’s annual target Performance Bonus shall be not less than 50% of Executive’s Base Salary (the “Target Performance Bonus”), provided that the actual Performance Bonus shall be based on performance, which may be less than or exceed the Target Performance Bonus. Performance Bonuses, if any, shall be paid according to the terms of the bonus plan or program in which Executive participates from time to time. Subject to Section 4.5.2 below, Executive must be employed to be entitled to any portion of any Performance Bonus, and the Performance Bonus shall not be considered earned under this Agreement until such Bonus is paid. The payout of Executive’s 2020 Performance Bonus shall be subject to Section 3.6.2 below.

Performance Bonuses. Each year, you will be eligible to earn an annual discretionary bonus of up to 100% of your annual base salary. Whether you receive such a bonus, and the amount of any such bonus, shall be determined by the Company in its sole discretion, and shall be based, in part, upon your performance and the performance of the Company during the calendar year, as well as any other criteria the Company deems relevant. The Company will pay you this bonus, if any, no later than March 15th of the following calendar year. You must be employed on the day that your bonus (if any) is paid in order to earn the bonus. Therefore, if your employment is terminated either by you or the Company for any reason prior to the bonus being paid, you will not have earned the bonus and no partial or prorated bonus will be paid.

Performance Bonuses. Within ninety (90) days after the end of each fiscal year of the Company, which is currently March 31st, during the Employment Term, the Executive will be eligible to receive a bonus (the "Performance Bonus") in an amount as determined at the discretion of the Board of the Company. To the extent that, for any given year of the Employment Term, Executive has been employed for less than the full year, the Performance Bonus shall be reduced on a pro rata basis for the amount of time actually worked during such year. All bonus payments shall be subject to customary withholdings required by law.

Performance Bonuses. In addition to the Base Salary, the Employee shall have the right to receive from the Employer, and the Employer shall be obligated to pay to the Employee, a performance bonus (the "Performance Bonus") for each fiscal year during the term of this Agreement, equal to the aggregate amount determined by the bonus formulas delineated herein below. Any amount of a Performance Bonus required to be paid to the Employee for a fiscal year during the term of this Agreement shall be paid by the Employer in the first pay period of the Employer immediately following the finalization of the accounting audit for financial accounting purposes of the Employer for the preceding fiscal year but in all events by March 31 of the year immediately following the end of the fiscal year for which such Performance Bonus is attributable. The formulas to determine a Performance Bonus for any fiscal year during the term of this Agreement shall be as follows: (i) For each fiscal year of the Employer, .15% of the pre-tax net income, before any performance or other periodic bonuses for any of the employees of the Employer and any of its consolidated subsidiaries, of the Employer on a consolidated basis for financial accounting basis based upon applying generally accepted accounting principles and generally accepted auditing standards on a consistent basis. This bonus shall be calculated by the independent certified public accountant regularly employed by the Employer (the "CPA") applying such generally accepted accounting principles and generally accepted auditing standards on a consistent basis. Plus (ii) For each fiscal year of the Employer, one point five percent (1.5%) of the excess of (a) the consolidated after tax net income of the Employer and its consolidated subsidiaries for a fiscal year, computed by the CPA applying generally accepted accounting principles and generally accepted auditing standards on a consistent basis over (b) the Wall Street Estimate (as hereinafter defined) for such fiscal year. For purposes of this subsection (ii)(b), Wall Street Estimate for a fiscal year shall mean the simple arithmetical average of the consolidated earnings per share estimates for a fiscal year of the Employer and its consolidated subsidiaries in the possession of First Call on the Determination Date (as hereinafter defined), translated by the CPA into the equivalent consolidated after tax net income of the Employer and its consolidated subsidiaries for such fiscal year. For purposes of ...

Performance Bonuses a. Until the Stock Appreciation Rights Incentive (SAR) program is implemented, the Board, in consultation with the CEO, will determine the amount of performance bonus to be awarded to the executive officers. b. When the Board, in consultation with the CEO, determines that it is time for the SAR program to be implemented it will operate in the following way: Each year, a performance bonus, will be awarded, based upon mutually agreed upon goals such as achievement of the goals in the Strategic Plan achieved before the application of taxes based upon the following formula: 50% of the Impact Pool allocation as identified in the Bank's Stock Appreciation Rights Incentive Program ("SAR").

Performance Bonuses. In addition to the Base Salary, Employee shall be eligible to receive bonus compensation of up to 75% of the Base Salary based on such performance goals and criteria as the Board shall, from time to time, determine.

Performance Bonuses. During the Employment Period and on an annual basis, Company shall, in the sole discretion of the Board and consistent with the best interests of the Company, the shareholders and corporate governance best practices, pay Executive an annual year-end performance bonus as deemed appropriate by the Board (the “Bonus”).