Common use of Bonus Determination Clause in Contracts

Bonus Determination. During the Employment Period the Employee will be eligible to receive annual performance bonuses in excess of his Base Salary (the “Performance Bonus”). The Performance Bonus, if any, will be composed of a quantitative component (the “Quantitative Bonus”) and a qualitative component (the “Qualitative Bonus”), determined in accordance with the terms set out in subsection 3.3 and Schedule “A” hereto. Each Performance Bonus will be paid to the Employee within 120 days after the end of the Employer’s fiscal year in respect of which the Performance Bonus has been determined.