Bonus and Incentive Compensation. Executive shall be entitled to participate in the Company’s incentive compensation programs as follows:
The Bonus for any Company fiscal year under this Agreement shall be paid by March 15th of the following year.
Bonus and Equity Compensation. Executive may be eligible for an annual cash bonus or equity compensation. Any such bonus or equity compensation, including applicable terms and conditions, shall be determined by the Manager of the Company in its sole discretion or the Board of Directors or the Compensation Committee of HoldCo in their sole discretion, as applicable. Executive must remain employed by the Company or HoldCo, as applicable, for the full fiscal year in order to be eligible for a bonus for that fiscal year.
"Severance Benefit" means a payment of money to the Executive equal to, and not exceeding, year’s annual compensation as defined under Treasury Regulation § 1.415-2(d) (as may be amended from time to time), but excluding any bonus compensation received from the Company, plus the average of all annual bonus compensation paid to the Executive in the calendar years prior to the date of the Triggering Event.
Average Invested Capital. Average Invested Capital for a Performance Period means the average of the Invested Capital of the Company as of the last day of the immediately preceding Performance Period and the last day of each fiscal quarter in the Performance Period.
Average Stockholders Equity. Average Stockholders Equity for a Performance Period means the average of the Stockholders Equity of the Company as of the last day of the immediately preceding Performance Period and the last day of each month in the Performance Period.
“The term “Bonus Amount” shall mean the greater of the (x) Executive's target bonus under the Annual Incentive Plan for the fiscal year in which the Termination Date occurs or (y) average of the annual bonuses paid or payable to the Executive during the two full fiscal years immediately prior to the Termination Date. If the Executive’s target bonus is expressed as a range, to determine the Bonus Amount in (x) above, the Executive’s target bonus shall mean the average of the low and high incentive targets of the range for each level. Executive’s entitlement to any other compensation or benefits shall be determined in accordance with the Company’s employee benefit plans and other applicable programs and practices then in effect.”
the Officer’s Average Bonus Amount.
Retirement Benefit. Notwithstanding any provision of the Plan to the contrary, Stecko’s Retirement Benefit under [Section 2.1] shall be equal to the product of Stecko’s final average compensation, multiplied by his years of service, multiplied by (.0167). For purposes of this [Appendix A]: # “final average compensation” shall mean Stecko’s average base salary plus average bonus in the three of his final five years of service during which his base salary and bonus, determined independently, were highest; and # “years of service” shall equal five (5) plus the elapsed time from until Stecko’s termination of service. Stecko’s Retirement Benefit shall not be reduced by his PCA Pension Plan Benefit, Pactiv Pension Plan Benefit or Pactiv SERP Benefit, and shall be nonforfeitable without regard to his reason for terminating Service. If distribution of Stecko’s Retirement Benefit commences prior to age 62, a 4% per year reduction will apply.
As with any awards made under this Bonus Award Program, no bonus will be paid unless total net income return (after bonus) on average stockholders equity for the year exceeds eight percent (8%). Net return on average stockholders equity will be computed by taking the average of beginning and ending stockholders equity for the applicable year, and dividing that number into net income for the year.
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