Common use of Discretionary Annual Bonus Clause in Contracts

Discretionary Annual Bonus. During Employee’s employment with the Employer, Employee is eligible to receive an annual cash performance bonus (an “Annual Bonus”) during each calendar year that ends during the Employment Period, to the extent earned based on the performance of Employee and the Employer and as determined, calculated and paid by the Employer in its sole discretion. Employee’s Annual Bonus for a calendar year is targeted, but not guaranteed, to be between eighty percent (80%) and two hundred percent (200%) of Employee’s Base Salary for that particular year, with greater or lesser amounts (including zero) paid based on Employee’s and Employer’s performance and as determined, calculated, and paid in the Employer’s sole discretion. Annual Bonuses will be paid around December 31st of a given year, but in no event later than March 15 of the following calendar year. If Employee ceases to be employed by the Employer on the established date of payment of the Annual Bonus at issue, Employee and the Employer acknowledge and agree that Employee is not eligible to receive, and will not receive, an Annual Bonus, or any portion thereof.

Discretionary Annual Bonus. During Employee’s employment with the Employer, Employee is eligible to receive an annual cash performance bonus (an “Annual Bonus”) during each calendar year that ends during the Employment Period, to the extent earned based on the performance of Employee and the Employer and as determined, calculated and paid by the Employer in its sole discretion. Employee’s Annual Bonus for a calendar year is targeted, but not guaranteed, to be between eighty percent (80%) and two hundred percent (200%) [Bonus target percentages] of Employee’s Base Salary for that particular year, with greater or lesser amounts (including zero) paid based on Employee’s and Employer’s performance and as determined, calculated, and paid in the Employer’s sole discretion. Annual Bonuses will be paid around December 31st of a given year, but in no event later than March 15 of the following calendar year. If Employee ceases to be employed by the Employer on the established date of payment of the Annual Bonus at issue, Employee and the Employer acknowledge and agree that Employee is not eligible to receive, and will not receive, an Annual Bonus, or any portion thereof.