MBO Performance Bonus Sample Clauses
The MBO Performance Bonus clause establishes a system for awarding bonuses based on the achievement of specific, measurable business objectives (MBOs). Typically, these objectives are set at the beginning of a performance period and are tailored to align with company goals or individual roles; employees may receive a bonus if they meet or exceed these targets, such as reaching sales quotas or completing key projects. This clause incentivizes employees to focus on strategic priorities and provides a transparent framework for rewarding performance, thereby aligning individual efforts with organizational success.
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MBO Performance Bonus. You shall be eligible to receive a management-by-objective (MBO) bonus equal to a percentage (%) of your annual base salary (“Bonus Percentage”) based on your performance and the Company’s performance against its Bonus Plan adopted by the Board of Directors or the Compensation Committee of the Board, as applicable, which is incorporated herein by reference. Your MBO bonus shall be subject to the terms and conditions of the Bonus Plan. The Bonus Percentage shall be set by the Compensation Committee of the Board on an annual basis.
MBO Performance Bonus. The paragraph entitled “MBO Performance Bonus” is hereby amended by replacing “forty percent (40%)” with “fifty percent (50%).”