Performance Bonuses. In addition to the Base Salary, the Employee shall have the right to receive from the Employer, and the Employer shall be obligated to pay to the Employee, a performance bonus (the "Performance Bonus") for each fiscal year during the term of this Agreement, equal to the aggregate amount determined by the bonus formulas delineated herein below. Any amount of a Performance Bonus required to be paid to the Employee for a fiscal year during the term of this Agreement shall be paid by the Employer in the first pay period of the Employer immediately following the finalization of the accounting audit for financial accounting purposes of the Employer for the preceding fiscal year but in all events by March 31 of the year immediately following the end of the fiscal year for which such Performance Bonus is attributable. The formulas to determine a Performance Bonus for any fiscal year during the term of this Agreement shall be as follows:
Appears in 10 contracts
Samples: Employment Agreement (Railworks Corp), Employment Agreement (Railworks Corp), Employment Agreement (Railworks Corp)
