Bonus Payout Sample Clauses
The Bonus Payout clause defines the conditions under which an employee or contractor is eligible to receive additional compensation beyond their regular pay. Typically, this clause outlines specific performance targets, project milestones, or company results that must be achieved to trigger the bonus, and it may detail the timing and method of payment. Its core practical function is to incentivize high performance and align individual or team efforts with organizational goals by providing a clear framework for awarding extra compensation.
Bonus Payout. The Board may elect to pay up to 50% of the bonus in fully vested and exercisable restricted stock or stock units issued under the Company’s 2004 Equity Incentive Plan.
Bonus Payout. If Executive executes this Agreement and does not timely revoke Executive’s signature or subsequently breach any applicable terms, conditions or covenants contained in this Agreement, Executive shall receive a lump sum of $400,000 which is 100% of Executive’s targeted Annual Bonus for 2023, payable on the first payroll date following the date that Executive executes and does not revoke this Agreement (and the applicable revocation period has expired) (the “Bonus Payment”).
Bonus Payout. Should a full time employee be absent less than six (6) days in a calendar year, then the employee will be credited with the difference between six (6) days and the number of days actually used, and the value of these credits shall be paid out to the employee at the end of each calendar year at the rate of pay of that calendar year. If the employee chooses, the credits owing may be converted into vacation within the following year. If service is less than twelve (12) full months in the year, payout or conversion to vacation of "Bonus Days" will be prorated. Part Time employees, excluding casual employees, are entitled to paid hours per calendar year, sick time.
Bonus Payout. Should a full time employee be absent less than six (6) days in a calendar year, then the employee will be credited with the difference between six
Bonus Payout. To the extent earned, Executive shall receive a payout of any bonus to which he may be entitled under the Company’s annual bonus plans for the fiscal years ending, respectively, June 5, 2012 and June 4, 2013, in accordance with the terms of such plans; provided, however, in the case of the Company bonus plan for the fiscal year ending June 4, 2013, any bonus amount shall be pro rated to reflect the Executive’s service through the date of separation of employment and any such bonus shall only become payable upon, and to the extent of, the satisfaction of any performance targets associated therewith.