Annual Performance Plan definition
Examples of Annual Performance Plan in a sentence
Any payments received pursuant to Sections 5(c)(i) or (ii) above shall be in addition to, and not in lieu of, any payments required to be made to Executive as the result of the happening of an event that would constitute a change in control pursuant to the provisions of the Annual Performance Plan or LTIP, as applicable.
Any amounts payable under Sections 5(a)(ii) or (iii) above shall be offset dollar-for-dollar by any pro rata payments otherwise provided for under the Annual Performance Plan or the LTIP.
Section 5(c) below sets for the method for determining the “target incentive amount” under the Annual Performance Plan and the “calculated market value” of phantom Performance Shares under the LTIP.
For purposes of this Section 5, Executive’s “target incentive amount” under the Annual Performance Plan for a given calendar year (i.e., the calendar year in which the Date of Termination occurs or the Change in Control occurs, as applicable) is determined by multiplying (i) Executive’s annualized total gross base salary for the calendar year by (ii) the incentive target percentage which is applicable to Executive’s incentive category under the Annual Performance Plan for the calendar year.
The parties acknowledge that this Lease has been approved by the County Council of ▇▇▇▇▇▇ County as a multi-year obligation in accordance with CB55-2017.
Exceeding the goals of the Annual Performance Plan may result in additional compensation to be determined by the Corporation in its sole discretion.
The payment of any portion of the Target Bonus shall be dependent upon the attainment by Executive and the Corporation of their mutually agreed upon objectives (the "Annual Performance Plan"), which shall be established annually by mutual agreement between Executive and the Corporation.
Section 5(c) below sets for the method for determining the "target incentive amount" under the Annual Performance Plan and the "calculated market value" of Performance Shares under the LTIP.
In this Agreement the following expressions (arranged in alphabetical order) shall unless the context otherwise requires have the following meanings: Accountable Body The Council of the City of Carlisle for the purposes of applying for funding, administering and monitoring such funding in relation to the MTI Annual Performance Plan the plan approved annually by the NWDA that describes in detail the projects to be delivered in a given year, including the funding and outputs from those projects.
If the Corporation and Executive are unable to mutually agree with respect to Executive's Annual Performance Plan, the Annual Performance Plan shall be determined by the Corporation, provided that the plan must be reasonably attainable by Executive based upon conditions existing at the time the Annual Performance Plan is determined.