2Additional Compensation Sample Clauses
The 'Additional Compensation' clause defines the circumstances under which a party may receive payment beyond the standard agreed-upon amount. This clause typically outlines specific situations, such as extra work performed, unforeseen expenses, or changes in project scope, that justify extra compensation. By clearly specifying when and how additional payments are warranted, the clause helps prevent disputes over payment and ensures both parties understand their financial obligations if the scope of work changes.
2Additional Compensation. In addition to the salary set forth in Section 2.1, Executive shall be entitled to receive a cash bonus in accordance with the terms of this Section 2.
2Additional Compensation. In addition to the salary set forth in Section 2.1, Executive shall continue to be entitled to receive a cash bonus in accordance with the terms of this Section 2.2. For each fiscal year of Employer during the Employment Term (as defined in Section 2.4 hereof), Executive shall continue to be eligible to receive a cash bonus based on (i) the “Annual Bonus Expectancy Amount,” which shall be an amount equal to 40% of Executive’s Base Salary for the applicable fiscal year (provided that for fiscal year 2023, Executive’s base salary for purposes of calculating his bonus under this section shall be the total salary paid to him for the year), and (ii) Executive’s attainment of performance targets and other reasonable criteria established by the Board, to the extent possible, by the end of the first month of such fiscal year. Depending on the targets and criteria which are achieved or met, the amount of the cash bonus actually payable to Executive for each fiscal year will be an amount from zero to and including the Annual Bonus Expectancy Amount. Any cash bonus amount payable pursuant to this Section 2.2 shall be paid to Executive as soon as practicable, but in no event later than two and one-half (2 1/2) months, following the end of the fiscal year to which it relates. For the avoidance of doubt, Executive does not have to be employed by Employer on the date such bonus is approved or paid by Employer to receive such bonus.
2Additional Compensation. In addition to the salary set forth in Section 2.1, Executive shall be entitled to receive a cash bonus in accordance with the terms of this Section 2.2. For each fiscal year of Employer, beginning January 1, during the Employment Term (as defined in Section 2.4 hereof), Executive shall be eligible to receive a cash bonus based on (i) the “Annual Bonus Expectancy Amount,” which shall be an amount equal to 60% of Executive’s Base Salary for the applicable fiscal year, and (ii) Executive’s attainment of performance targets and other reasonable criteria established by the Board, to the extent possible, by the end of the first month of such fiscal year. Depending on the targets and criteria which are achieved or met, the amount of the cash bonus actually payable to Executive for each fiscal year will be an amount from zero to and above the Annual Bonus Expectancy Amount. Any cash bonus amount payable pursuant to this Section 2.2 shall be paid to Executive as soon as practicable, but in no event later than two and one-half (2 1/2) months, following the end of the fiscal year to which it relates. For the avoidance of doubt, Executive does not have to be employed by Employer on the date such bonus is approved or paid by Employer to receive such bonus.
2Additional Compensation. In addition to base salary, the Company shall pay the following to Executive:
(a) Intentionally Left Blank.