Annual bonus eligibility clause samples

(b)Annual Bonus Eligibility. Employee will be eligible for the Company’s annual discretionary bonus for the year in which the termination of employment occurs subject to the terms of the plan, and which amount shall be paid in a lump sum cash payment no later than the fifteenth (15th) day of the third (3rd) calendar month following the end of the performance period.

(b)2020 Annual Bonus Eligibility. Executive will be eligible for an annual discretionary bonus for the year ended December 31, 2020, at the lesser of target or actual funding in an amount determined based on the Board-approved corporate funding level, and subject to the terms of the 2020 Annual Discretionary Bonus Plan (“Annual Discretionary Bonus”).Such Annual Discretionary Bonus shall be paid in a lump sum cash payment no later than March 15, 2021.