Examples of Target Bonus in a sentence
If, during the Term, the Executive’s employment is terminated due to his death, the Executive’s estate or legal representative shall be entitled to receive the Accrued Benefits and the Pro-Rata Target Bonus.
The Target Bonus, or any portion thereof, will be paid as soon as practicable after the Company’s CEO and Board of Directors determines that the applicable performance goals have been achieved, provided that you must remain an employee of the Company through the date the Target Bonus is paid out in order to receive the Target Bonus.
If awarded, the Target Bonus will be paid prior to the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which the Target Bonus is earned or (ii) March 15 following the calendar year in which the Target Bonus is earned, provided that the Employment Term extends through the date of payment.
Target Bonus" shall mean the percentage of salary or level of bonus for Employee which is set by the Compensation Committee at the beginning of each year as an incentive goal to be achieved (it being understood that the actual bonus eventually earned could be lesser or greater than the Target Bonus).
Executive’s eligibility, and the terms and conditions, for the Target Bonus will be documented and issued to Executive if and when approved by the Board.