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Common use of Annual Cash Bonus Opportunity Clause in Contracts

Annual Cash Bonus Opportunity. During the Term, Executive will be eligible to participate in an annual incentive program established by the Board. Executive’s annual incentive compensation under such incentive program (the “Annual Bonus”) shall be targeted at 55% of Executive’s Annual Base Salary (such target, as may be adjusted by the Board from time to time, the “Target Annual Bonus”). The Annual Bonus payable under the incentive program shall be based on the achievement of performance goals to be determined by the Board and may in the Board’s discretion be calculated in a manner intended to reflect any mid-year changes in Annual Base Salary or Target Annual Bonus. The Board may elect to pay Executive more than the Target Annual Bonus, with a maximum Annual Bonus of up to 200% of the Target Annual Bonus, if the performance goals determined by the Board are exceeded. The payment of any Annual Bonus pursuant to the incentive program shall be subject to Executive’s continued employment with the Company through the date of payment, except as otherwise provided in Section 4(b).

Appears in 1 contract

Samples: Employment Agreement (Atea Pharmaceuticals, Inc.)

Annual Cash Bonus Opportunity. During the Term, Executive will be eligible to participate in an annual incentive program established by the Board. Executive’s annual incentive compensation under such incentive program (the “Annual Bonus”) shall be targeted at 5540% of Executive’s Annual Base Salary (such target, as may be adjusted by the Board from time to time, the “Target Annual Bonus”). The Annual Bonus payable under the incentive program shall be based on the achievement of performance goals to be determined by the Board and may in the Board’s discretion be calculated in a manner intended to reflect any mid-year changes in Annual Base Salary or Target Annual Bonus. The Board may elect to pay Executive more than the Target Annual Bonus, with a maximum Annual Bonus of up to 200% of the Target Annual Bonus, if the performance goals determined by the Board are exceeded. The payment of any Annual Bonus pursuant to the incentive program shall be subject to Executive’s continued employment with the Company through the date of payment, except as otherwise provided in Section 4(b).

Appears in 1 contract

Samples: Employment Agreement (Atea Pharmaceuticals, Inc.)