Operations Performance Bonus Agreement
Operations Performance Bonus Agreement
This agreement ("Agreement") dated [Month, Day, Year] is entered into between [Your Company Name], [Your Company Address], [Your Company Number], [Your Company Email], [Your Company Website] (hereinafter referred to as "Service Provider") and [Your Client / Subscriber / User Name], [Your Client / Subscriber / User Email], [Client Address] (hereinafter referred to as "Client").
1. Purpose of Agreement
The purpose of this Agreement is to set forth the terms and conditions under which bonuses may be earned by the Client based on the operational performance. This Agreement is designed to act as an incentive for the Client to achieve specified operational goals which contribute to the Service Provider's overall success.
2. Operational Targets
The specific operational goals and performance targets, upon achievement of which the Client shall be entitled to a bonus, shall be mutually agreed upon by the Service Provider and the Client and shall be documented in writing. These targets may be subject to periodic review and changes, with the consent of both the parties.
3. Calculation of Performance Bonus
The performance bonus shall be calculated as a percentage of the Client’s regular compensation. The specific percentage shall be agreed upon in writing between the Service Provider and the Client. It is understood that the performance bonus is contingent upon the achievement of the agreed operational targets. Non-achievement of the targets may result in a lower bonus or no bonus at all.
4. Termination
This Agreement may be terminated by either party upon written notice. In the event of termination, the Client shall not be entitled to a performance bonus for operational targets not completed prior to the date of termination.
5. Confidentiality
Both the Service Provider and the Client agree to keep the terms of this Agreement confidential and to not disclose any information contained herein to any party outside of this Agreement without the prior written consent of the other party.
6. Entire Agreement
This Operations Performance Bonus Agreement constitutes the entire agreement between the Service Provider and the Client and supersedes all previous agreements, understandings and arrangements, whether oral or written, between the parties in relation to the subject matter hereof.
In witness whereof, both the Service Provider and the Client hereto have executed this Agreement as of the Effective Date.
[Your Name]
__________________
[Your Company Name]
[Month, Day, Year]
[Your Client / Subscriber / User Name]
__________________
Your Partner Company Name / Second Party]
[Month, Day, Year]
