ABP and CPP Sample Clauses


ABP and CPP. Subject to the approval of the Compensation and Leadership Development Committee of the Board of Directors of ServiceMaster, if you are eligible to participate in ServiceMaster’s Annual Bonus Plan (“ABP”) or Corporate Performance Plan (“CPP”), or both, for the year 2006, ServiceMaster agrees to pay you by lump sum payment, less applicable payroll withholdings and other deductions, the amount earned in accordance with the terms of the ABP, including any individual performance goals and targets applicable to you, and the CPP. Any payment would be made to you in a time period consistent with payments made to active participants in the 2006 ABP and 2006 CPP.Subject to the approval of the Compensation and Leadership Development Committee of the Board of Directors of ServiceMaster (including, among other things, the discretion of the Committee to eliminate a bonus plan), if you are eligible to participate in the 2007 ABP or 2007 CPP, or both, ServiceMaster agrees to pay you by lump sum payment, less applicable payroll withholdings and other deductions, the amount earned in accordance with the terms of the 2007 ABP; it being understood that your 2007 target bonus under the ABP and 2007 target bonus, if any, under the CPP shall be at least equal to your 2006 target bonus under the ABP or CPP, as applicable); provided, however, that 100% of the amount earned shall be based upon corporate performance goals and not any individual performance goals. The amount payable, if any, in respect of 2007 pursuant to this section shall equal the amount earned, if any, under the 2007 ABP or 2007 CPP, or both, multiplied by a fraction, the numerator of which is the number of days from and including January 1, 2007 through and including the Separation Date, and the denominator of which is 365. Any payment would be made to you in a time period consistent with payments made to active participants in the 2007 ABP and 2007 CPP. The amount of the 2007 ABP bonus, if any, will be increased (but may not be decreased) for any increase in annual base salary or target bonus percentage, or both. Subject to the determination of the Compensation and Leadership Development Committee to continue the CPP in 2007, the number of 2007 CPP units will not be less than the number of 2006 CPP units.


ABP and CPP. Your participation and your eligibility to participate in the ServiceMaster 2007 Annual Bonus Plan and 2007 Corporate Performance Plan will end on the Separation Date.