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:
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Related to Managers’ Bonus Program

  • Bonus Program You will be eligible for an annual target bonus of forty percent (40%) of your annual base salary, as determined by the Board in its sole discretion based upon, among other things, the achievement of pre-determined performance milestones. Any annual bonus, if earned, shall be paid no later than March 15th of the year immediately following the year to which the applicable annual bonus relates.

  • Bonus Programs Employee may participate in any incentive program which may be made available from time to time to Corporation’s employees at Employee’s level; provided, however, that Employee’s participation is subject to the applicable terms, conditions and eligibility requirements of the program, as they may exist from time to time.

  • Bonus Plan Such bonus, if any, as shall be determined upon the recommendation of the CEO by the Board (or any designated Committee of the Board comprised solely of independent directors), shall be paid in accordance with the terms and conditions of the bonus plan established for the Company (“Bonus Plan”).

  • Bonus Plans A bonus is a lump sum payment that is not a permanent increase to the base salary of the individual and may be granted at the discretion of the President. A bonus may be awarded at any time and may be used for a variety of salary adjustments including, but not limited to the following:

  • Incentive Bonus Plan Employee shall be eligible for a bonus opportunity of up to 65% of his annual base salary in accordance with the Company’s Incentive Bonus Plan as modified from time to time, payable in cash and/or equity of the Company (at the Company’s discretion). The bonus payment and the Company’s targeted performance shall be determined and approved by the Board or the compensation committee thereof.