Managers’ Bonus Program Clause Samples

Managers’ Bonus Program. Program Description: The President and CEO, at his/her sole discretion, may select exempt, salaried supervisors, to participate in the annual manager’s bonus pool. Participants must be full-time employees, in good standing with the company, and employed without restrictions at the time of bonus distributions. The bonus pool is a budgeted reserve of cash, calculated at 30 percent (30%) of the annual base salary of the program participants, and designated to be paid during the first quarter following the close of the previous year’s December year-to-date profit and loss financial statements. The spirit and design of the program is an “All for one, one for all” management team bonus. If the Management team beats the Company’s budgeted cash flow, calculated as EBITDA, for the calendar budget year, the participants are paid in the next calendar quarter, or typically the last payroll in March. The President of the Company may decide from time to time, again at his/her sole discretion, to eliminate certain financial variables deemed to be beyond the team’s control. This can be both a bonus maker and a bonus breaker. Examples might include, but are not be limited to, acquisition expenses and windfall revenues, special accounting entries, outside legal expenses, corporate allocations, etc. The program payments assume that the participant is employed in good standing when the bonus is paid and shall be pro-rated for partial years. The President & CEO of the Company may not participate in the program. Example: