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Establishment of Performance Period, Performance Goals and Performance Award Formula
Establishment of Performance Period, Performance Goals and Performance Award Formula contract clause examples

The Program incorporates two measurable performance factors: # Company sales, which are defined as Single Premium Life total placed premium (LTRS sales) plus net annualized target premium for Non-LTRS Life sales (in aggregate “Life Sales”), and Annuities total placed premium (“Annuity Sales”), and # overall Company profitability. The bonus percentages included in the tables below pertain to Participants who are a Chief Marketing Officer at the Executive Vice President level.

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The Plan incorporates four (4) measurable performance factors: # Company sales, which are defined as Single Premium Life total placed premium sales (LTRS sales) plus net annualized target premium for Non-LTRS sales (in aggregate “Life Sales”), and Annuities total placed premium (“Annuity Sales”), # Company expense management, # overall profitability and # achievement of specific objectives by Participants as assessed by the senior staff and the President.

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