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Best Pay Cap
Best Pay Cap contract clause examples

Incentive Cap. The compensation provided in [Sections 3(c)] [Annual Incentive], and 3(d) [Long-Term Incentive], and including any incentive compensation under Section 5 [Compensation Upon Termination] as it pertains to incentive compensation, specifically Section 5(a), [clauses (3) and (4)])], and Section 5(c), [clauses (3) and (4)])]; shall be subject to a cumulative annual cap (referred to as "Incentive Cap") pro-rated over the Current Period of this Agreement not to exceed $495,000 per year averaged over the final Current Period (whether the term extends to the Expiration Date or through an earlier Termination Date), provided, however, that for purposes of Section 5(c)) [Termination By USPB For Other Than Cause, Death or Disability or By CEO For Good Reason], the proration term shall extend through the Expiration Date. For example, other than an earlier termination under Section 5(c), if employment under this Agreement is earlier terminated in the Current Period after two (2) years, the Incentive Cap would be $495,000 per year averaged over two (2) years or $990,000). An example of the incentive compensation under [Sections 3(c) and 3(d)])] is provided on [Exhibit A].

Incentive Cap. The compensation provided in [Sections 3(c)] [Annual Incentive], and 3(d) [Long-Term Incentive], and including any incentive compensation under [Section 5] [Compensation Upon Termination] as it pertains to incentive compensation, specifically [Section 5(a)], [clauses (3) and (4)])], and [Section 5(c)], [clauses (3) and (4)])]; shall be subject to a cumulative annual cap (referred to as "Incentive Cap") pro-rated over the Current Period of this Agreement not to exceed $544,500 per year averaged over the final Current Period (whether the term extends to the Expiration Date or through an earlier Termination Date), provided, however, that for purposes of [Section 5(c)]) [Termination By USPB For Other Than Cause, Death or Disability or By CEO For Good Reason], the proration term shall extend through the Expiration Date. For example, other than an earlier termination under [Section 5(c)], if employment under this Agreement is earlier terminated in the Current Period after four (4) years, the Incentive Cap would be $544,500 per year averaged over four (4) years or $2,178,000). An example of the incentive compensation under [Sections 3(c) and 3(d)])] is provided on [Exhibit A].

Incentive Cap. The compensation provided in [Sections 3(c)] [Annual Incentive], and 3(d) [Long-Term Incentive], and including any incentive compensation under [Section 5] [Compensation Upon Termination] as it pertains to incentive compensation, specifically [Section 5(a)], [clauses (3) and (4)])], and [Section 5(c)], [clauses (3) and (4)])]; shall be subject to a cumulative annual cap (referred to as “Incentive Cap”) pro-rated over the term of this Agreement not to exceed $450,000 per year averaged over the term (whether the term extends to the Expiration Date or through an earlier Termination Date), provided, however, that for purposes of [Section 5(c)]) [Termination By USPB For Other Than Cause, Death or Disability or By CEO For Good Reason], the proration term shall extend through the Expiration Date. For example, other than an earlier termination under [Section 5(c)], if employment under this Agreement is earlier terminated after two (2) years, the Incentive Cap would be $450,000 per year averaged over two (2) years or $900,000). An example of the incentive compensation under [Sections 3(c) and 3(d)])] is provided on [Exhibit A].

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