Common use of Target Incentive Payment Plan Clause in Contracts

Target Incentive Payment Plan. During the Term, the Company shall maintain and the Executive shall be entitled to participate in an annual incentive payment plan described in greater detail in Exhibit A hereto (the “Target Incentive Payment Plan”), which will provide for the payment of lump sum cash incentive payments to be made on the schedule set forth in Exhibit A. Under the Target Incentive Payment Plan, the Executive will be eligible to earn target incentive payments (each, a “Target Incentive Payment”) each year totaling not less than 200% of the Base Salary paid to the Executive during the calendar year to which the Target Incentive Payment relates (the “Target Incentive Payment Amount”). With regard to each calendar quarter, the Executive will be eligible to earn a Target Incentive Payment of not less than 100% of the Base Salary paid to the Executive during such calendar quarter (the “Quarterly Target Incentive Payment Amount”).

Target Incentive Payment Plan. During the Term, the Company shall maintain and the Executive shall be entitled to participate in an annual incentive payment plan described in greater detail in Exhibit A hereto (the “Target Incentive Payment Plan”), which will provide for the payment of lump sum cash incentive payments to be made on the schedule set forth in Exhibit A. Under the Target Incentive Payment Plan, the Executive will be eligible to earn target incentive payments (each, a “Target Incentive Payment”) each year totaling not less than 200150% of the Base Salary paid to the Executive during the calendar year to which the Target Incentive Payment relates (the “Target Incentive Payment Amount”). With regard to each calendar quarter, the Executive will be eligible to earn a Target Incentive Payment of not less than 10075% of the Base Salary paid to the Executive during such calendar quarter (the “Quarterly Target Incentive Payment Amount”).