The following Employment precedent provides comprehensive and up to date legal information covering:

  • Clauses—bonus

  1. 1

    Bonus—example 1

    1. 1.1

      You [will OR may, at the sole and absolute discretion of the Employer] be entitled to receive a bonus [each year ][calculated by reference to [specify method of calculation] OR amounting to [enter percentage] % of your basic annual salary as at the date the bonus is paid OR at a rate to be decided by the Company from time to time]. Bonus payments are not pensionable and are normally paid in [specify month] in each year.

    2. 1.2

      [The Company reserves the right to end or amend the bonus scheme without notice at any time and to exclude you from participation in the bonus scheme for any reason.]

  2. 2

    Bonus—example 2

    1. 2.1

      You are entitled to participate in the[ executive] bonus scheme adopted for the [current financial year] and in any scheme adopted to replace it in subsequent years, if such a scheme is adopted, subject a

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