How to reformat this code so I don't use 'Exit Try' and 'Exit For'?
All of your Exit Try statements follow an error condition. So why not throw an exception with the message and display it in the Catch block instead? That's the purpose of the Try..Catch. 

Also, to get rid of the Exit For, just reverse the conditional. As it is, those two statements will end the loop completely on the first empty row, not just skip it.

(Ideally, you'd want to create a custom Exception class and throw it instead of a generic Exception, but this is just to give you an idea.)

So you end up with something like this

tot = CInt(BonusDGV.Rows(0).Cells(0).Value)

'Business Rules Try/Catch block
Try
    'Ensure, for all rows, Fund amount totals 100 and Bonus Percentage is between 0-85%.
    For i As Integer = 0 To BonusDGV.Rows.Count - 1
        'don't count rows that contain no data
        If BonusDGV.Rows(i).Cells(0).Value IsNot Nothing Then
          fundTot = fundTot + CInt(BonusDGV.Rows(i).Cells(2).Value)
          If tot &lt;&gt; CInt(BonusDGV.Rows(i).Cells(0).Value) Then
            Throw New Exception("Percentage Must Be Between 0-85%.")
          End If
        End If
    Next
    'Bonus Percentage must be between 0-85% // \\ Double check
    If tot &gt; 85 Or tot &lt; 0 Then
      Throw New Exception("Percentage Must Be Between 0-85%.")
    ElseIf fundTot &lt;&gt; 100 Then
      Throw New Exception("Fund Total Must Add to 100%.")
      'Met all the business requirements, proceed to insert record
    Else
        For i As Integer = 0 To BonusDGV.Rows.Count - 1
          'Make sure there is actually data in the row
          If BonusDGV.Rows(i).Cells(0).Value IsNot Nothing Then
            cmd.Parameters("@BonusPct").Value = BonusDGV.Rows(i).Cells(0).Value
            cmd.Parameters("@FundID").Value = CInt(BonusDGV.Rows(i).Cells(1).Value)
            cmd.Parameters("@DefPct").Value = BonusDGV.Rows(i).Cells(2).Value
            cmd.Parameters("@ElectDT").Value = BonusDGV.Rows(i).Cells(3).Value
            'nonquery because we don't expect a return value
            cmd.ExecuteNonQuery()
          End If
        Next
    End If
Catch ex As Exception
    MessageBox.Show(ex.Message, "Invalid Entry", MessageBoxButtons.OK, MessageBoxIcon.Error)
End Try
'dispose of the connection
conn.Close()