Common use of Bonus Eligibility Clause in Contracts

Bonus Eligibility. You will be eligible to receive an annual cash incentive bonus with a target amount equal to 55% of your then-current annual base salary. Your annual bonus will be subject to the terms of the applicable bonus plan developed and approved by the Board or the Compensation Committee. Any bonus awarded will be paid, subject to required withholdings and deductions, on or before March 15 of the calendar year immediately following the year for which the bonus was awarded, subject to your employment at the end of the calendar year for which the bonus is due, except as otherwise expressly provided for herein.