Partial Bonus Clause Samples
The Partial Bonus clause defines the conditions under which an employee or contractor may receive a bonus that is less than the full amount, typically based on partial achievement of performance targets or incomplete service periods. This clause outlines how the bonus is calculated proportionally, such as awarding a percentage of the total bonus based on the level of goal attainment or the fraction of the year worked. Its core function is to ensure fair and transparent allocation of bonus payments when full eligibility criteria are not met, thereby incentivizing partial performance and clarifying expectations for both parties.
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Partial Bonus. In the event that the Board of Directors of GTE Corporation decides to terminate efforts to divest all or substantially all of the assets of Government Systems, on or about 45 days from the date of that decision (the "Termination Date"), you will receive a special bonus (a "Partial Bonus") equal, before withholding of applicable taxes, to 25% of the Transaction Completion Bonus you would have received under option B(1)(a), above, if the Transaction Completion had occurred on the Termination Date.
Partial Bonus. Partial Bonus" shall mean a bonus equal to the product of (i) Employee's most recently set Target Bonus, and (ii) a fraction, the denominator of which is 365 and the numerator of which is the number of days in the fiscal year being considered through the date of the termination of Employee's employment.
Partial Bonus. If the Definitive Agreement is terminated, on or about 45 days following the Termination Date, you will receive, in lieu of the Merger Bonus described above, a special bonus (a "Partial Bonus") equal (before withholding of applicable taxes) to 25% of the Merger Bonus you would have otherwise received had the Closing Date occurred on the Termination Date.
Partial Bonus. If, and only if, the Company pays cash bonuses to one or more of its corporate officers with respect to, in whole or in part, the 1999 calendar year, the Company shall pay to Consultant an amount of cash bonus determined by the Company's Board of Director's, acting in good faith, to have been earned by Consultant, in his capacity as an executive and senior officer of the Company, for the portion of the 1999 calendar year that Consultant was employed by the Company.
Partial Bonus. If the sale of Iusacell is terminated (for any reason), on or about 45 days following the Termination Date, you will receive, in lieu of the Retention Bonus described above, a special bonus (a “Partial Bonus”) equal (less withholding of applicable taxes) to fifty percent (50%) of the Retention Bonus you would have otherwise received had the Closing Date occurred on the Termination Date.