Common use of 2Incentive Compensation Clause in Contracts

2Incentive Compensation. The Employee shall be eligible to receive an annual performance bonus, with a target amount equal to 45% of the Annual Salary, based upon the achievement of performance objectives established in writing by the Board or CEO and subject to the terms of the applicable bonus plan(s). Bonus payouts, if any, will be paid no later than March 15 of the year following the calendar year to which the bonus is applicable, and will be pro-rated based, as applicable, on hire date and/or approved leaves of absence.

Appears in 1 contract

Samples: Employment Agreement (Passage BIO, Inc.)

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2Incentive Compensation. The Employee shall be eligible to receive an annual performance bonus, with a target amount equal to 4535% of the Annual Salary, based upon ​ ​ ‌ ​ ​ the achievement of performance objectives established in writing by the Board or CEO and subject to the terms of the applicable bonus plan(s). Bonus payouts, if any, will be paid no later than March 15 of the year following the calendar year to which the bonus is applicable, and will be pro-rated based, as applicable, on hire date and/or on approved leaves of absence.

Appears in 1 contract

Samples: Employment Agreement (Passage BIO, Inc.)

2Incentive Compensation. The Employee shall be eligible to receive an annual performance bonus, with a target amount equal to 4540% of the Annual Salary, based upon the achievement of performance objectives established in writing by the Board or CEO and subject to the terms of the applicable bonus plan(s). Bonus payouts, if any, will be paid no later than March 15 of the year following the calendar year to which the bonus is applicable, and will be pro-rated basedrated, as applicable, on hire date and/or for approved leaves of absence.

Appears in 1 contract

Samples: Employment Agreement (Passage BIO, Inc.)

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2Incentive Compensation. The Employee shall be eligible to receive an annual performance bonus, with a target amount equal to 4540% of the Annual Salary, based upon the achievement of performance objectives established in writing by the Board or CEO and subject to the ​ ​ terms of the applicable bonus plan(s). Bonus payouts, if any, will be paid no later than March 15 of the year following the calendar year to which the bonus is applicable, and will be pro-rated basedrated, as applicable, on hire date and/or for approved leaves of absence.

Appears in 1 contract

Samples: Employment Agreement (Passage BIO, Inc.)

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