Discretionary bonus payment

Discretionary bonus payment means a payment made to an executive officer of a Board-regulated institution, where:
(1) The Board-regulated institution retains discretion as to whether to make, and the amount of, the payment until the payment is awarded to the executive officer;
(2) The amount paid is determined by the Board-regulated institution without prior promise to, or agreement with, the executive officer; and
(3) The executive officer has no contractual right, whether express or implied, to the bonus payment.

Source

12 CFR § 217.2


Scoping language

As used in this part:

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