Contractual Bonus
/ˈkɒn.træk.tʃu.əl ˈboʊ.nəs/
Definitions
- (n.) An additional monetary payment stipulated in a contract, awarded upon fulfillment of certain conditions or performance targets.
The employee received a contractual bonus after exceeding the annual sales goals.
Forms
- contractual bonus
- contractual bonuses
Related terms
See also
Commentary
A contractual bonus differs from discretionary bonuses by being a pre-agreed entitlement enforceable under contract law.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.