Fiscal Year 2019 and Thereafter. During the Term, the Executive shall be eligible to receive an annual cash bonus for the Company’s fiscal years ending December 31, 2019 and each December 31 thereafter based on performance objectives established by the Committee each such fiscal year (the “Annual Cash Incentive”). The Executive’s target Annual Cash Incentive amount for such fiscal years will be the percentage of Base Salary designated as the target by the Committee, which amount shall be at least 100% of the Base Salary then in effect for each applicable year (the “Full-Year Target”). Notwithstanding the preceding but subject to the penultimate sentence of this Section 2.2(b), the Executive’s actual Annual Cash Incentive, if any, may be below (including zero), at, or above, the Full-Year Target based upon the achievement of the performance objectives, and payment of any such Annual Cash Incentive shall be in accordance with the terms of such program; provided that the Annual Cash Incentive shall be paid to the Executive in no event later than March 15th of the calendar year following the fiscal year in which the Annual Cash Incentive was earned. For the Company’s fiscal year ending December 31, 2019, the Annual Cash Incentive actually paid to the Executive shall be equal to the greater of (i) 100% of his Base Salary for such fiscal year, regardless of whether the designated performance objectives have been achieved, and (ii) his Base Salary for such fiscal year, multiplied by the performance multiplier earned by the Company’s Chief Operating Officer and General Counsel for such fiscal year. Except as otherwise provided in this Agreement, no Annual Cash Incentive will be payable following the Executive’s Termination Date.
