Variable Compensation Program Sample Clauses
Variable Compensation Program. During the Transition Period, you shall be eligible to participate in the Company’s Variable Compensation program. After the Separation Date, you will not be eligible to participate in the Variable Compensation program. Any compensation provided under the Variable Compensation program will be calculated based on your current annual total target compensation rate of $413,448, prorated for any partial period of participation. To the extent that compensation is paid under the Variable Compensation program after the Separation Date, payment of such compensation may be delayed as provided under Section 3(g) (Deferred Compensation).
Variable Compensation Program. For the calendar year 2004, your target award under the Variable Compensation Program ("VCP") of the Company's Amended and Restated 1996 Long Term Incentive Plan (as it may be amended from time to time, including any successor or replacement plans, the "LTIP") will be an amount equal to 100% of your Base Salary ("VCP Target"), with the actual amount of any such award, if any, depending upon the performance of the Company and your individual performance. Your VCP Target will be determined solely by, and will be reviewed annually by, the Compensation Committee. Any VCP award to be paid with respect to calendar year 2003 would be paid on or about March 15, 2004 and would be based on the formula applicable to your previous position with the Company as President and CEO of Travelocity, except that your award, if any, would be pro rated such that the formula used to calculate your VCP award for the month of December 2003, would use the new VCP Target specified in the previous sentence under this Section 6(a).