Common use of Bonus Provision Clause in Contracts

Bonus Provision. B▇▇▇▇ shall receive a one time sign on bonus of $100,000.00, due and payable upon completion of the Equity Round of financing. In addition, B▇▇▇▇ shall receive an annual bonus as follows: a. During the first year of employment the annual bonus is guaranteed to be at least one hundred thousand dollars ($100,000.00) with the potential of receiving up to one hundred percent (100%) of his annual base salary based upon performance. Said annual bonus to be paid within thirty (30) days of B▇▇▇▇'▇ first anniversary date with the Company; b. During ensuing years, B▇▇▇▇ shall receive a minimum annual bonus of at least fifteen percent (15%) of his base annual salary with the potential of receiving up to one hundred percent (100%) of his annual base salary based upon performance. Said annual bonus to be paid within thirty (30) days of each subsequent anniversary date with the Company.

Bonus Provision. BC▇▇▇▇▇ shall receive a one time sign on bonus of $100,000.0050,000.00, due and payable upon completion of the Equity Round of financing. In addition, BC▇▇▇▇▇ shall receive an annual bonus as follows: a. During the first year of employment the annual bonus is guaranteed to be at least one hundred thousand dollars twenty-five percent ($100,000.0025%) of his annual base salary with the potential of receiving up to one hundred fifty percent (10050%) of his annual base salary based upon performance. Said annual bonus to be paid within thirty (30) days of BC▇▇▇▇▇'▇ first anniversary date with the Company; ; b. During ensuing years, BC▇▇▇▇▇ shall receive a minimum annual bonus of at least fifteen percent (15%) of his base annual salary with the potential of receiving up to one hundred twenty-five percent (10025%) of his annual base salary based upon performance. Said annual bonus to be paid within thirty (30) days of each subsequent anniversary date with the Company.