³ÉÈËÓ°Òô

This Precedent is a sample bonus schedule, to be inserted as a schedule to an employment contract or director’s service agreement, providing for entitlement to an annual bonus to be calculated by reference to a company’s earning before interest, tax, depreciation and amortisation (EBITDA).

1. 1. 1

      Definitions

      1. 1.1

         In this Schedule, the following expressions will, unless the context otherwise requires, have the meanings set opposite them:

         Accounts

         1. •

            the audited profit and loss account of the Company;

         Board

         1. •

            [the directors of the Company present at a meeting: (i) of directors of the Company or (ii) of a duly appointed committee of directors of the Company[, such meeting to be convened and quorate in accordance with the articles of association of the Company and the Companies Act 2006] OR the directors of the Company present at a meeting of directors of the Company[, such meeting to be convened and quorate in accordance with the articles of association of the Company and the Companies Act 2006]];

         Bonus Payment Date

         1. •

            the date 30 days after the date of filing of the Accounts for the relevant Financial Year at Companies House;

         Bonus Scheme