Priceline 2015 Annual Report Download - page 136

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SECTION 3 - Participation
3.01 Participation Requirements
Participation in the Plan is limited to Eligible Employees.
SECTION 4 - Bonus
4.01 Eligibility
An employee of the Corporation who is employed for at least three months during a year shall become an Eligible Employee. The
Committee may determine that employees not meeting the above criteria are Eligible Employee’s in their sole discretion.
4.02 Determination of Bonuses
Within 60 days after the end of the prior year, the Committee shall designate and approve the following:
(a) Performance Period;
(b) Targeted goals for selected Performance Measures during the Performance Period; and
(c) Applicable Bonus Formula for each Bonus Classification.
4.03 Limitation of Bonuses and General Discretion
(a) The Bonus for any Entitled Employee may exceed or be below the amount calculated in accordance with this Section 4 as
determined by the Committee in their sole discretion.
(b) An Entitled Employee who, whether voluntarily or involuntarily, is terminated, demoted, transferred or otherwise ceases to
be an Entitled Employee at any time prior to the payment of Bonuses for any Performance Period in accordance with Section
4.04 (Bonus Payments) shall not be eligible to receive a partial or full Bonus award with respect to such Performance Period,
unless otherwise determined by the Committee, the Board or, in the case of non-Executive Officers, the CEO.
(c) An Entitled Employee who was, during a year, promoted or newly hired to a position included in a Bonus Classification
established by the Committee, shall have his or her Bonus prorated in accordance with the period of time he or she held such
position, unless otherwise determined by the Committee or, in the case of non-Executive Officers, the CEO.
(d) An Entitled Employee who was, during a year, promoted from one Bonus Classification to another Bonus Classification,
shall have his or her Bonus prorated in accordance with the period of time he or she was in each Bonus Classification.
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