Performance Bonus
/ˈpɜːrfərməns ˈboʊnəs/
Definitions
- (n.) A monetary reward granted to an employee or contractor for exceeding performance targets or contractual obligations.
The consultant received a performance bonus for completing the project ahead of schedule.
Forms
- performance bonus
- performance bonuses
Related terms
See also
Commentary
The term specifically refers to additional compensation tied to successful achievement; clarity in contract drafting ensures the conditions triggering the bonus are well-defined.
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.