Incentive Compensation. During the Term, you will be eligible to receive an annual cash bonus (your “Bonus”) for each fiscal year of the Company commencing with the fiscal year ending December 31, 2021, pursuant to an annual cash bonus plan. The actual amount of the Bonus and the performance goals applicable to the Bonus shall be determined in accordance with the terms and conditions of said bonus plan as in effect from time to time, as determined by the independent members of the Board in sole discretion, based on a recommendation from the CHRC.

Incentive Compensation. The Company will pay Employee, within 14 days after the General Release Agreement becomes irrevocable, a lump sum equal to one and one-half times the annual amount of incentive compensation for which Employee was eligible under any Incentive Compensation Plan of the Company then in effect for the year containing the Employment End Date. Additionally, the Employee will receive a payment for target bonus, prorated for the current year.

Incentive Compensation. Incentive Compensation means a Participant’s cash bonus, commissions, incentive awards, equity-based compensation or such other compensation (other than Base Compensation) approved by the Committee as Incentive Compensation that may be deferred under Section 4.2 of this Plan, excluding any Incentive Compensation that has been previously deferred under this Plan or any other arrangement subject to Code [Section 409A] and excluding any compensation that is not U.S. source income.

Incentive Compensation. During the Term, the Executive’s target annual incentive compensation shall be 150 percent of his Base Salary or such higher amount or percentage determined by the Compensation Committee. Subject to the provisions of the first sentence of this Section 2(b), the actual amount of the incentive compensation shall be determined by the Compensation Committee, in its sole discretion, based on such factors relating to the performance of the Company and the Executive and will be paid within 75 days following the end of the fiscal year. Except as otherwise provided herein, to earn incentive compensation, the Executive must be employed by the Company on the day such incentive compensation is paid.

Incentive Compensation. Executive will be entitled to participate in the Company’s Variable Incentive Compensation Plan as modified from time to time or replaced by the Board of Directors. The Target award under such plan for the Executive shall be 67% of the Executive’s annual base salary. Note the bonus is prorated in the first year.

Incentive Compensation. For 2022, Employee shall have a bonus opportunity consistent with Employee’s bonus plan for 2021, up to fifty percent (50%) of which such bonus may be payable in the form of Restricted Stock Units of First American Financial Corporation. Commencing in 2023, Employee shall be eligible to participate in Employer’s Annual Incentive Plan (AIP) pursuant to a separate grant document to be presented to Employee prior to January 1, 2023. For illustrative purposes, a template of the current AIP document is attached hereto as [Exhibit A]. It is the understanding and intent of both parties that the total compensation hereunder (i.e. salary and incentive compensation) will be substantially consistent with the sum of such compensation components that have historically been paid to Employee in the preceding years after accounting for the profitability and financial metrics of [[Employer:Organization]].

Incentive Compensation. In addition to the Base Salary, Executive shall be entitled to receive, from time to time, an annual bonus as determined and set forth by the Board, in accordance with the terms of any applicable incentive plan (the “Annual Bonus”). The Company’s current incentive plan provides for an annual bonus of up to 50% of Executive’s Base Salary, determined based on factors established by the Board, including individual and Company performance metrics.

Incentive Compensation. The Executive shall be eligible to receive an annual discretionary bonus of up to forty percent (40%) of the Executive’s Base Salary (the “Target Bonus”) as determined by the Board or the Compensation Committee from time to time; provided that the Executive will not be eligible for any such bonus for calendar year 2021. The actual amount of the Executive’s annual incentive compensation, if any, shall be determined in the sole discretion of the Board or the Compensation Committee. Any bonus pursuant to this Section that the Executive may receive may vary significantly from year to year. There is no representation that a bonus in one year will be comparable to another year. There is no implied term that, if the amount of any bonus is lower in any subsequent year, the Company will compensate the Executive for such difference. Under no circumstances is the bonus to be considered part of the Base Salary or other regular employment income. The bonus, if any, will be paid when the Company normally pays such bonuses and is not earned or accrued until the bonus payout date. Except as otherwise provided herein, to earn incentive compensation, the Executive must be employed by the Company on the day such incentive compensation is paid.

Incentive Compensation. Executive will be entitled to participate in the Company’s Variable Incentive Compensation Plan as modified from time to time by the Board of Directors. The Target award under such plan for the Executive shall be 80% of his annual base salary.

Incentive Compensation. During the Term, the Executive shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executive’s target annual incentive compensation shall be 40% of the Base Salary (the “Target Bonus”). Except as otherwise provided herein, to earn incentive compensation, the Executive must be employed by the Company on the day such incentive compensation is paid.