Annual Incentive Plan. In addition to CEO's base Annual Salary, if CEO is employed by USPB on the last day of any employment year (except as otherwise provided in this Agreement), CEO shall be paid an annual incentive compensation, ("Annual Incentive") equal to seventy-five one hundredths of a percent (0.75%) of the sum of the total financial benefits to USPB ("USPB Total Benefits") that exceed . USPB Total Benefits are: # audited fiscal year-end USPB earnings before tax; and # the USPB grid premiums which is the net sum of all USPB unitholder and associate grid premiums and discounts calculated through all USPB grids at all plants, taking into account all calculators including, but not limited to, base price, dressing percent, quality grade, outlier cattle, A/V, Natural, per head category premiums, and other specific categories, less the base price calculator excluding any set base price premium. (Example, if per cwt. is paid to a unitholder or associate for one head of cattle over the western Kansas reported USDA average, then per cwt. times the weight of the head of cattle would be added to the net grid premium.) This calculation shall be based on the actual cattle delivered by USPB unitholders and associates to National Beef Packing Company, LLC or its successor under the Cattle Purchase and Sale Agreement. In no event shall the non-delivery penalties paid by members be included in the net sum of all USPB member grid premiums under [clause (2) above]. The Annual Incentive is subject to the following:
Annual Incentive Award. “Annual Incentive Award” shall mean the annual incentive compensation (including for this purpose any long term performance share awards, restricted stock, stock options or any other equity based award) paid or payable or granted during the applicable fiscal year or any award to the extent specified by the Committee in the relevant award agreement or any other equity based awards in each case paid or payable or granted in lieu of annual non-equity incentive compensation for that fiscal year; provided further that, # the grant date fair value of any equity based award granted as annual incentive compensation shall be included in the computation of the annual incentive amounts paid or granted in any applicable fiscal year based upon the grant date fair value of such award for accounting purposes and # any dividend equivalents paid or payable with respect to such an equity based award shall not be considered annual incentive compensation.
Annual Incentive Opportunity. You will continue to participate in the Company’s Executive Incentive Plan (“EIP”) in accordance with its terms and conditions. Subject to the approval of the Management Development and Compensation Committee of the Board (the “MD&C Committee”), your target annual bonus opportunity under the EIP for calendar year as President and CEO will be 125% of your base salary (and your maximum bonus opportunity will be 200% of your base salary).
The amount of the Executive’s annual incentive compensation shall be based on the achievement of the performance goal(s) established for . The Committee shall determine the amount of the annual incentive compensation that may be earned, as well as the performance goals(s) that must be achieved. The potential incentive payout amount and the performance goal(s) will be communicated to the Executive by the Company. Annual incentive compensation, if earned, shall be paid in cash no later than , . If the Executive’s base salary is paid in a currency other than U.S. Dollars, any cash payment hereunder shall be converted to the same currency as the Executive’s base salary using the exchange rate reported in the Wall Street Journal on the business day immediately prior to the date of payment.
Annual Incentive Awards. A participant, who has previously been notified by the Company that he or she was eligible to receive an Annual Incentive Award for the year in which the Change of Control occurs, shall be paid a target incentive award for the calendar year of the Change of Control. The award shall be paid on the date on which Annual Incentive Awards would otherwise have been paid absent a Change of Control notwithstanding, except if a participant suffers a termination of employment on account of a Change of Control as defined under the Pitney Bowes Senior Executive Severance Policy, such participant shall be paid a prorated target incentive award no later than fifteen (15) days after the participant terminates employment.
Annual Incentive Bonus. You will be eligible to receive an annual incentive bonus, under the Company's Annual Executive Incentive Program ("AEIP"), with a target of 100% of your Base Salary, determined and paid in accordance with the Company's normal procedures.
Annual Incentive Compensation. An Eligible Executive with a salary level of A, B or C or an Eligible Executive of Snyder’s-Lance, Inc. with a salary level of at least may elect to defer any portion of his or her Annual Incentive Compensation up to 90% (in 10% increments).
Annual Incentive Compensation. For each of ’s fiscal years during Term, Employee will be eligible to earn an annualized cash bonus as determined by Board in its discretion and subject to terms of any written document addressing such annual cash bonus as Board may adopt in its sole discretion. For ’s 2018 fiscal year, Employee’s target annualized cash bonus under this [Section 4.2] will be fifty percent (50%) of Employee’s annualized Base Salary for ’s 2018 fiscal year, subject to terms and conditions identified in ’s Fiscal Year Management Bonus Plan. Future annual cash bonus opportunities will be determined by Personnel and Compensation Committee or Board in its discretion. If a bonus is earned in accordance with this Paragraph 4.2, it will be paid to Employee by regardless of whether she is employed by on date payable.
Annual Option Payments. Commencing , PEF shall pay an “Annual Option Payment” equal to the product of 30% of 2,000 AF (representing the maximum Annual Volume discussed in [Section 3.1] above) multiplied by that year’s Unit Volume Charge (discussed in [Section 7.2] below). On or after , if PEF elects to increase the maximum Annual Volume in accordance with [Section 3.2] above, the Annual Option Payment shall be increased for the remainder of the Term of the Agreement such that PEF shall pay an Annual Option Payment equal to the product of 30% of 3,500 AF (representing the maximum increased Annual Volume discussed in [Section 3.2] above) multiplied by that year’s Unit Volume Charge (discussed in [Section 7.2] below). By way of example:
Annual Incentive Award Weightings. The following table identifies the Annual Incentive Award element weightings based on the performance components and Participant classification. Participant classification will be determined by the Administrator and communicated to the Participant.
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