Can someone please explain how bonus decisions are made? For example if your base comp is 120 and your target bonus max is 10%, what exactly does that mean?

If you perform well and achieve the 10% target you would only get 12,000? Is that correct?

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Target bonus and max bonus aren't the same. If your target is 10% then yes, that would be 12k. You can achieve up to ~2x your target, so in your example ~24k. Getting below target is pretty difficult, you have to be pretty bad to not get at least target

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200% of target is for very high performers

And based on company average and performance

Forget about these, if your manager likes the way you work, you can get 10% to 15% bonus. If they don't, trust me - there will be always excuses and the bonus could be as little as 5%. It does not matter how hard you worked.

This is not true. Annual reviews go through calibration. Precisely to avoid or at least reduce your example here.

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