Definition of 162(m) Incentive Award


162(m) Incentive Award means a Incentive Award which is intended to qualify for the performance-based compensation exception to Section 162(m) of the Code, as further described in Article VII.

Examples of 162(m) Incentive Award in a sentence

No 162(m) Incentive Award may be paid until the Committee has certified the level of attainment of the applicable Performance Criteria.
Such performance goals, and the maximum, target and/or threshold (as applicable) Bonus Amount payable upon attainment thereof, must be established by the Committee within the time limits required in order for the 162(m) Incentive Award to qualify for the performance-based compensation exception to Section 162(m) of the Code.
The maximum amount of a 162(m) Incentive Award is the lower of 2x target Incentive Award or $2.0 million to a single Participant.
The performance goals to which a 162(m) Incentive Award is subject must be based solely on Performance Criteria.
No 162(m) Incentive Award may be paid unless and until the shareholders of the Company have approved the Plan in a manner which complies with the shareholder approval requirements of Section 162(m) of the Code.