Common use of Annual Incentive Program Clause in Contracts

Annual Incentive Program. 29.1 For the term of this agreement, beginning for the year 2021 (payable in 2022) employees will participate in the Vistra Broad-Based Annual Incentive Plan, subject to all terms and conditions of the plan as they may be modified from time to time in the Company’s sole discretion. Individual performance modifiers will not be used in determining payout amounts for Represented employees. No part of the plan shall be subject to grievance or arbitration under this Agreement under any circumstance, except in the limited instance in which an employee contends he or she was not paid in accordance with the terms of the plan. The target award is 6% of the employee’s annual base wage earnings.