Common use of Annual Discretionary Bonus Clause in Contracts

Annual Discretionary Bonus. Following the end of each fiscal year and subject to the approval of the Board, the Executive may be eligible to receive a discretionary annual retention and performance bonus of 35% of the Executive’s then current Base Salary (the “Target Bonus”), based on the Executive’s performance and the performance of the Company and Nabriva Therapeutics AG during the applicable fiscal year, as determined by the Board in its sole discretion. All annual bonuses, if any, will be payable no later than March 15 of the year following the year in which they are earned. The Executive must be employed on the date of payment in order to be eligible for any annual bonus, except as specifically set forth below.

Appears in 3 contracts

Samples: Employment Agreement (Nabriva Therapeutics AG), Employment Agreement (Nabriva Therapeutics AG), Employment Agreement (Nabriva Therapeutics AG)

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Annual Discretionary Bonus. Following the end of each fiscal year and subject to the approval of the Board, the Executive may be eligible to receive a discretionary annual retention and performance bonus of 35% of the Executive’s then current Base Salary (the “Target Bonus”), based on the Executive’s performance and the performance of the Company and Nabriva Therapeutics AG plc during the applicable fiscal year, as determined by the Board in its sole discretion. All annual bonuses, if any, will be payable no later than March 15 of the year following the year in which they are earned. The Executive must be employed on the date of payment in order to be eligible for any annual bonus, except as specifically set forth below. Any bonus determined by the Board to be payable to the Executive with respect to 2017 shall be determined as if the Executive were employed by the Company for the entire 2017 fiscal year (i.e., such bonus, if any, shall not be pro-rated).

Appears in 2 contracts

Samples: Employment Agreement (Nabriva Therapeutics PLC), Employment Agreement (Nabriva Therapeutics PLC)

Annual Discretionary Bonus. Following the end of each fiscal year and subject to the approval of the Board, the Executive may be eligible to receive a discretionary annual retention and performance bonus of 35% of the Executive’s then current Base Salary (the “Target Bonus”), based on the Executive’s performance and the performance of the Company and Nabriva Therapeutics AG during the applicable fiscal year, as determined by the Board in its sole discretion. All annual bonuses, if any, will be payable no later than March 15 of the year following the year in which they are earned. The Executive must be employed on the date of payment in order to be eligible for any annual bonus, except as specifically set forth below. Any bonus determined by the Board to be payable to the Executive with respect to 2016 shall be determined as if the Executive were employed by the Company for the entire 2016 fiscal year (i.e., such bonus, if any, shall not be pro-rated).

Appears in 1 contract

Samples: Employment Agreement (Nabriva Therapeutics AG)

Annual Discretionary Bonus. Following the end of each fiscal year and subject to the approval of the Board, the Executive may be eligible to receive a discretionary annual retention and performance bonus of 35% of the Executive’s then current Base Salary (the “Target Bonus”), based on the Executive’s performance and the performance of the Company and Nabriva Therapeutics AG during the applicable fiscal year, as determined by the Board in its sole discretion. All annual bonuses, if any, will be payable no later than March 15 of the year following the year in which they are earned. The Executive must be employed on the date of payment in order to be eligible for any annual bonus, except as specifically set forth below. Any bonus determined by the Board to be payable to the Executive with respect to 2017 shall be determined as if the Executive were employed by the Company for the entire 2017 fiscal year (i.e., such bonus, if any, shall not be pro-rated).

Appears in 1 contract

Samples: Employment Agreement (Nabriva Therapeutics PLC)

Annual Discretionary Bonus. Following the end of each fiscal year and subject to the approval of the Board, the Executive may be eligible to receive a discretionary annual retention and performance bonus of 3545% of the Executive’s then current Base Salary (the “Target Bonus”), based on the Executive’s performance and the performance of the Company and Nabriva Therapeutics AG the Parent during the applicable fiscal year, as determined by the Board in its sole discretion. All annual bonuses, if any, will be payable no later than March 15 of the year following the year in which they are earned. The Executive must be employed on the date of payment in order to be eligible for any annual bonus, except as specifically set forth below. Any bonus determined by the Board to be payable to the Executive for 2018 shall be prorated to reflect the Executive’s increased Base Salary and Target Bonus percentage as of the Effective Date.

Appears in 1 contract

Samples: Employment Agreement (Nabriva Therapeutics PLC)

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Annual Discretionary Bonus. Following the end of each fiscal year and subject to the approval of the Board, the Executive may be eligible to receive a discretionary annual retention and performance bonus of 3550% of the Executive’s then current Base Salary (the “Target Bonus”), based on the Executive’s performance and the performance of the Company and Nabriva Therapeutics AG during the applicable fiscal year, as determined by the Board in its sole discretion. All annual bonuses, if any, will be payable no later than March 15 of the year following the year in which they are earned. The Executive must be employed on the date of payment in order to be eligible for any annual bonus, except as specifically set forth below.

Appears in 1 contract

Samples: Employment Agreement (Nabriva Therapeutics AG)

Annual Discretionary Bonus. Following the end of each fiscal year and subject to the approval of the Board, the Executive may be eligible to receive a discretionary annual retention and performance bonus of 3550% of the Executive’s then current Base Salary (the “Target Bonus”), based on the Executive’s performance and the performance of the Company and Nabriva Therapeutics AG Parent during the applicable fiscal year, as determined by the Board in its sole discretion. All annual bonuses, if any, will be payable no later than March 15 of the year following the year in which they are earned. The Executive must be employed on the date of payment in order to be eligible for any annual bonus, except as specifically set forth below. Any bonus determined by the Board to be payable to the Executive with respect to 2018 shall be pro-rated based on the number of days in 2018 during which the Executive is employed by the Company.

Appears in 1 contract

Samples: Employment Agreement (Nabriva Therapeutics PLC)

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