Bonus Provision

Sample 1

The Executive shall be eligible for annual bonus awards during the term of employment in accordance with the company’s incentive compensation plan or any comparable or successor plan that may be adopted by the company. Any annual bonuses to the Executive shall be paid to the Executive at the same time bonuses are paid to other senior officers of the company unless the executive has elected to do for receipt of all or part of the annual bonus award to which he is entitled in respect of such year in accordance with the terms of any deferred compensation program of the company then in effect. All such award shall take into account the Executive’s positions, duties and responsibilities at the company and its subsidiaries.

Sample 2

Executive is eligible to commence participation in the company’s incentive plan or any successor plans.

General information, not legal advice. Treat this as a drafting starting point, not a finished policy — employment law varies by jurisdiction and changes often, so have a licensed attorney tailor it to your situation before you rely on it.

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