Bonus Payment Date Clause Samples
The Bonus Payment Date clause defines the specific date or timeframe when a bonus payment is due to be paid to an employee or contractor. Typically, this clause will state whether the bonus is paid on a set calendar date, upon completion of certain milestones, or within a certain period after meeting performance targets. By clearly establishing when the bonus must be paid, this clause ensures both parties have a mutual understanding of payment timing, reducing the risk of disputes or misunderstandings regarding bonus compensation.
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Bonus Payment Date. All payments under this Section 2 shall be made as soon as possible after becoming due and payable and, in any event, no later than two and one-half (2 1/2 ) months following the taxable year of Employee in which such payment becomes due and payable.
Bonus Payment Date. Bonus payouts under this Agreement shall be made as soon as possible after the performance assessment has been completed with respect to the applicable fiscal year and approved by the Committee, but in no event later than March 15 of the subsequent year.
Bonus Payment Date. The Employment Agreement is hereby amended to delete the third sentence of Section 2(c) in its entirety and replace it with a new third sentence to read as follows: The Annual Bonus will be paid at the same time as bonuses are paid to senior executives, but in no event later than the 15th day of the third month of the year following the fiscal year to which the Annual Bonus relates.
Bonus Payment Date. The Pro-Rata Bonus will be paid within 30 (thirty) days following the end of the quarter in which Executive’s employment terminates, or within 10 (ten) days following the effectiveness of the Release required by the Agreement, whichever is later.