Annual Target Bonus. Executive is eligible for an annual performance bonus with a target payout of seventy-five percent (75%) of Executive’s Base Salary (the “Target Bonus”) based on specific performance criteria set by the Compensation Committee. The Target Bonus will be payable no later than March 15th of the year following the year to which it relates and Executive will not have earned or have any rights to such Target Bonus unless Executive remains employed by the Company on the last day of the year to which the Target Bonus relates and the Compensation Committee has certified that all required performance standards have been met.
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Samples: Employment Agreement (Luther Burbank Corp), Employment Agreement (Luther Burbank Corp), Employment Agreement (Luther Burbank Corp)
Annual Target Bonus. Executive is shall be eligible for an annual performance bonus with a target payout of seventy-five percent (75%) of Executive’s Base Salary (the “Target Bonus”) based on specific performance criteria set by the Compensation Committee. The Target Bonus will shall be payable no later than March 15th of the year following the year to which it relates and Executive will shall not have earned or have any rights to such Target Bonus unless Executive he remains employed by the Company on the last day of the year to which the Target Bonus relates and the Compensation Committee has certified that all required performance standards have been met.
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