The aggregate of all payouts under the PRP shall consist of the sum of the Formula Pool and the Additional Individual Performance Pool. In addition to the procedures set forth above, any performance awards recommended under the PRP which exceed one times a participant’s base salary must be reviewed and approved by the Company’s Chief Executive Officer.
Following the end of the year, but prior to the payment of all payoutsawards under the PRP shall consistwith respect to the completed fiscal year, management of the sumCompany may determine to add additional funding to the plan to cover individual performance awards for some employees or officers in excess of the amounts used to compute the Formula Pool. To the extent such determinations are made they are subject to the approval of the appropriate management of the Company. Collectively any amounts set aside to reward individual performances and personal performance multipliers across the Company beyond the aggregate amount reflected in the Formula Pool andwill hereafter be referred to as the “Additional Individual Performance Pool”. The aggregate amount of the Additional Individual Performance Pool. In additionPool is subject to the procedures set forth above, any performance awards recommended underapproval of both the PRP which exceed one times a participant’s base salary must be reviewed and approved by the Company’s Chief Executive Officer.Officer and the Compensation Committee.
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.