Common use of Annual Bonus Eligibility Clause in Contracts

Annual Bonus Eligibility. Employee shall be eligible to participate in Employer’s annual bonus program under which Employee’s target bonus shall equal seventy percent (70%) of Employee’s Base Salary. Bonus payment in respect of the first year of employment shall be pro-rated based on the number of days employed during such year. Payment of any bonus shall be based upon individual and company performance, as determined by Employer’s Chief Executive Officer and/or the compensation committee of the Employer’s board of directors (the “Compensation Committee”). The terms of the annual bonus program shall be developed by Employer and communicated to Employee as soon as practicable after the beginning of each year.

Annual Bonus Eligibility. Employee shall be eligible to participate in Employer’s annual bonus program under which Employee’s target bonus shall equal seventy seventy-five percent (7075%) of Employee’s Base Salary with a maximum bonus of up to one-hundred fifty percent (150%) of Employee’s Base Salary. Bonus payment in respect of the first year of employment shall be pro-rated based on the number of days employed during such year. Payment of any bonus shall be based upon individual and company performance, as determined by Employer’s Chief Executive Officer and/or the compensation committee of the Employer’s board of directors (the “Compensation Committee”). The terms of the annual bonus program shall be developed by Employer and communicated to Employee as soon as practicable after the beginning of each year.