template

Employee Annual Bonus Schedule (From Company's Pre-Tax Profits)

by
Genie Team
Genie Team
Sep, 28 2022

When to use this template

A bonus schedule that is attached to an employment contract, for example Standard documents, Employment contract for a senior employee or Director's service agreement (long-form), in which an employee has a contractual entitlement to receive an annual bonus calculated by reference to the company's pre-tax profits.

Key issues covered in this template

  • ROCE bonus
  • Board discretion
  • Bonus determined by Board
  • Bonus notification
  • Bonus thresholds
  • Ill-health or disability
  • Interim bonus payments
  • Long service
  • Pension contributions
  • Tax deductions
  • N/A

What to watch out for

  • The bonus schedule should be clear and concise, outlining how the bonus will be calculated and paid out

  • The bonus should be based on pre-tax profits, and not post-tax profits

  • The bonus should be paid out in a timely manner, preferably within a few months of the end of the fiscal year

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Used by

Author

Genie Team

Genie Team

@genieteam
Genie AI

The Genie Team consists of lawyers and paralegals. Our aim is to open source the law and provide high quality, regularly reviewed legal documents.

Additional information

Business categories

Business activities

Contract type

Relevant sectors

Agriculture, Forestry and Fishing

Mining

Construction

Manufacturing

Transport

Energy

Wholesale

Retail

Finance

Insurance

Real Estate

Legal Services

Consumer, Public & Health Services

Education

Media

Consultancy

Technology

Public Administration

Sport & Entertainment

Other

Relevant company sizes

1 - 3

4 - 19

20 - 49

50 - 249

250 - 999

1000 +

Governing law

England and Wales

Language

English UK

Gender neutral

Yes