We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Common use of Annual Performance Bonuses Clause in Contracts

Annual Performance Bonuses. You will be eligible to participate in the Company’s discretionary annual performance related bonus scheme to a maximum value of 40% of your Earned Salary in relation to your performance against agreed annual corporate and personal performance objectives as set out below (the “Annual Performance Bonus”). That is, if the remuneration committee of the Board (the “Remuneration Committee”) determines that you have completed all such corporate and personal objectives to its satisfaction in a given year, your bonus would be 50% of your Earned Salary in that year, excluding any other bonuses in this offer. Such bonus may be payable in cash or, in whole or in part, in share options in the Company’s parent company, Bicycle Therapeutics Limited (“BTL”), as agreed by you and the Remuneration Committee (and in the case of share options with the appropriate HMRC valuation process (if required by the Remuneration Committee) and board approval so as to be compliant with BTL’s share option plan rules) with due consideration for the operational requirements of the Company at that time in your role as COO. Any Annual Performance Bonus paid will not be pensionable and are subject to statutory applicable tax and National Insurance deductions. Performance will be assessed by the Remuneration Committee at the end of each calendar year, against annual corporate and personal performance objectives agreed between you and the Board at the start of each calendar year, with any such bonus being payable in the first quarter of the following year. Qualification for your Annual Performance Bonus will require that you are employed by the Company (and have not served notice of termination of your employment to the Company) on 31 December of the year to which your bonus entitlement applies.

Appears in 1 contract

Samples: Service Agreement (BICYCLE THERAPEUTICS LTD)

Annual Performance Bonuses. You will be eligible to participate in the Company’s 's discretionary annual performance related bonus scheme to a maximum target value of 4050% of your Earned Salary in relation to your performance against agreed annual corporate and personal performance objectives as set out below (the “Annual Performance Bonus”). That is, if the remuneration compensation committee of the Board (the “Remuneration Compensation Committee”) of the board of directors (the “Board”) of the Company's parent company, Bicycle Therapeutics plc (“BTL”) determines that you have completed all such corporate and personal objectives to its satisfaction in a given year, your bonus would be 50% of your Earned Salary in that year, excluding any discretionary multiplier being applied to such bonus or any other bonuses in this offer. Such bonus Annual Performance Bonus may be payable in cash or, in whole or in part, in share options in the Company’s parent company, Bicycle Therapeutics Limited (“BTL”), as agreed by you and the Remuneration Compensation Committee following notification by you of your preference at least 90 days prior to the normal payment date (and in the case of share options with the appropriate HMRC valuation process (if required by the Remuneration Compensation Committee) and board Board approval so as to be compliant with BTL’s 's share option plan rules) ), with due consideration for the operational requirements of the Company at that time in your role as COO. Any Annual Performance Bonus paid will not be pensionable and are will be subject to statutory applicable tax and National Insurance deductions. Performance will be assessed by the Remuneration Compensation Committee at the end of each calendar year, against annual corporate and personal performance objectives agreed between you and the Board at the start of each calendar year, with any such bonus being payable in the first quarter of the following year. Qualification for your Annual Performance Bonus will require that you are employed by the 8548359 v5 ​ ​ Company (and have not served notice of termination of your employment to the Company) on 31 December of the year to which your bonus entitlement applies.

Appears in 1 contract

Samples: Service Agreement (BICYCLE THERAPEUTICS PLC)

Annual Performance Bonuses. You will be eligible to participate in the Company’s 's discretionary annual performance related bonus scheme to a maximum value of 40% of your Earned Salary in relation to your performance against agreed annual corporate and personal performance objectives as set out below (the “Annual Performance Bonus”). That is, if the remuneration compensation committee of the Board (the “Remuneration Compensation Committee”) of the board of directors ("the Board”) of the Company’s parent company, Bicycle Therapeutics plc (“BTL”) determines that you have completed all such corporate and personal objectives to its satisfaction in a given year, your bonus would be 5040% of your Earned Salary in that year, excluding any other bonuses in this offer. Such bonus may be payable in cash or, in whole or in part, in share options in the Company’s parent company, Bicycle Therapeutics Limited (“BTL”), as agreed by you and the Remuneration Compensation Committee following notification by you of your preference at least 90 days prior to the normal payment date (and in the case of share options with the appropriate HMRC valuation process (if required by the Remuneration Compensation Committee) and board Board approval so as to be compliant with BTL’s share option plan rules) ), with due consideration for the operational requirements of the Company at that time in your role as COO. Any Annual Performance Bonus paid will not be pensionable and are subject to statutory applicable tax and National Insurance deductions. Performance will be assessed by the Remuneration Compensation Committee at the end of each calendar year, against annual corporate and personal performance objectives agreed between you and the Board at the start of each calendar year, with any such bonus being payable in the first quarter of the following year. Qualification for your Annual Performance Bonus will require that you are employed by the Company (and have not served notice of termination of your employment to the Company) on 31 December of the year to which your bonus entitlement applies.

Appears in 1 contract

Samples: Service Agreement (BICYCLE THERAPEUTICS PLC)

Annual Performance Bonuses. You will be eligible to participate in the Company’s 's discretionary annual performance related bonus scheme to a maximum value of 4035% of your Earned Salary in relation to your performance against agreed annual corporate and personal performance objectives as set out below (the “Annual Performance Bonus”). That is, if the remuneration compensation committee of the Board (the “Remuneration Compensation Committee”) of the board of directors (the “Board”) of the Company’s parent company, Bicycle Therapeutics plc (“BTL”) determines that you have completed all such corporate and personal objectives to its satisfaction in a given year, your bonus would be 5035% of your Earned Salary in that year, excluding any other bonuses in this offer. Such bonus may be payable in cash or, in whole or in part, in share options in the Company’s parent company, Bicycle Therapeutics Limited (“BTL”), as agreed by you and the Remuneration Compensation Committee following notification by you of your preference at least 90 days prior to the normal payment date (and in the case of share options with the appropriate HMRC valuation process (if required by the Remuneration Compensation Committee) and board Board approval so as to be compliant with BTL’s share option plan rules) ), with due consideration for the operational requirements of the Company at that time in your role as COOCBO. Any Annual Performance Bonus paid will not be pensionable and are subject to statutory applicable tax and National Insurance deductions. Performance will be assessed by the Remuneration Compensation Committee at the end of each calendar year, against annual corporate and personal performance objectives agreed between you and the Board at the start of each calendar year, with any such bonus being payable in the first quarter of the following year. Qualification for your Annual Performance Bonus will require that you are employed by the Company (and have not served notice of termination of your employment to the Company) on 31 December of the year to which your bonus entitlement applies.

Appears in 1 contract

Samples: Service Agreement (BICYCLE THERAPEUTICS PLC)

Annual Performance Bonuses. You will be eligible to participate in the Company’s discretionary annual performance related bonus scheme to a maximum value of 4050% of your Earned Salary in relation to your performance against agreed annual corporate and personal performance objectives as set out below (the “Annual Performance Bonus”). That is, if the remuneration compensation committee of the Board (the “Remuneration Compensation Committee”) determines that you have completed all such corporate and personal objectives to its satisfaction in a given year, your bonus would be 50% of your Earned Salary in that year, excluding any other bonuses in this offer. Such bonus may be payable in cash or, in whole or in part, in share options in the Company’s parent company, Bicycle Therapeutics Limited (“BTL”), as agreed by you and the Remuneration Compensation Committee following notification by you of your preference at least 90 days prior to the normal payment date (and in the case of share options with the appropriate HMRC valuation process (if required by the Remuneration Compensation Committee) and board Board approval so as to be compliant with BTL’s share option plan rules) ), with due consideration for the operational requirements of the Company at that time in your role as COOCEO. Any Annual Performance Bonus paid will not be pensionable and are subject to statutory applicable tax and National Insurance deductions. Performance will be assessed by the Remuneration Compensation Committee at the end of each calendar year, against annual corporate and personal performance objectives agreed between you and the Board at the start of each calendar year, with any such bonus being payable in the first quarter of the following year. Qualification for your Annual Performance Bonus will require that you are employed by the Company (and have not served notice of termination of your employment to the Company) on 31 December of the year to which your bonus entitlement applies.

Appears in 1 contract

Samples: Service Agreement (BICYCLE THERAPEUTICS PLC)

Annual Performance Bonuses. You will be eligible to participate in the Company’s discretionary annual performance related bonus scheme to a maximum value of 4050% of your Earned Salary in relation to your performance against agreed annual corporate and personal performance objectives as set out below (the “Annual Performance Bonus”). That is, if the remuneration committee of the Board (the “Remuneration Committee”) determines that you have completed all such corporate and personal objectives to its satisfaction in a given year, your bonus would be 50% of your Earned Salary in that year, excluding any other bonuses in this offer. Such bonus may be payable in cash or, in whole or in part, in share options in the Company’s parent company, Bicycle Therapeutics Limited (“BTL”), as agreed by you and the Remuneration Committee (and in the case of share options with the appropriate HMRC valuation process (if required by the Remuneration Committee) and board approval so as to be compliant with BTL’s share option plan rules) with due consideration for the operational requirements of the Company at that time in your role as COOCEO. Any Annual Performance Bonus paid will not be pensionable and are subject to statutory applicable tax and National Insurance deductions. Performance will be assessed by the Remuneration Committee at the end of each calendar year, against annual corporate and personal performance objectives agreed between you and the Board at the start of each calendar year, with any such bonus being payable in the first quarter of the following year. Qualification for your Annual Performance Bonus will require that you are employed by the Company (and have not served notice of termination of your employment to the Company) on 31 December of the year to which your bonus entitlement applies.

Appears in 1 contract

Samples: Statement of Main Terms and Conditions of Employment (BICYCLE THERAPEUTICS LTD)