Annual Variable Compensation definition

Annual Variable Compensation means the aggregate of: (i) the target, as of the Date of Termination of Employment, short term incentive bonus of the Executive in accordance with the Short Term Incentive Bonus Plan (“STIP”); and (ii) the maximum, as of the Date of Termination of Employment, ELTIP Award entitlement of the Executive in accordance with the Executive Long Term Incentive Plan dated June 30, 2004 and as amended from time to time (“ELTIP”).
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Examples of Annual Variable Compensation in a sentence

  • Seller and its Affiliates shall retain all liabilities with respect to the B▇▇▇▇▇▇-▇▇▇▇▇ Squibb Pharma Company Supplemental Retention Program and the Annual Variable Compensation Plan.

  • The Executive's annual Base Salary shall be L300,000, The Executive's annual variable compensation amount shall be at no less than L150,000 ("Base Annual Variable Compensation) in addition to which the Executive may receive further annual variable compensation as the Compensation Committee shall in its sole discretion determine (on the understanding that such further annual variable compensation shall be no greater than L150,000).

  • The Executive's annual Base Salary shall be (pound)300,000, The Executive's annual variable compensation amount shall be at no less than (pound)150,000 ("Base Annual Variable Compensation) in addition to which the Executive may receive further annual variable compensation as the Compensation Committee shall in its sole discretion determine (on the understanding that such further annual variable compensation shall be no greater than (pound)150,000).

  • Executive’s target Annual Variable Compensation shall be established in the Executive’s Commission Plan for the applicable calendar year and based upon the achievement of mutually agreed performance criteria set forth therein.

  • You current compensation (Base Salary $425,000 USD and Targeted Annual Variable Compensation $297,500 USD) will remain the same following the Closing.

  • The Annual Variable Compensation amount, if any, shall be paid no later than March 15th of the calendar year following the calendar year to which such amount relates (the “Payment Date”).

  • In determining the following year's Annual Variable Compensation, said balance will be added to, or subtracted from, Foods' pre-tax earnings as the case may be.

  • The Annual Variable Compensation amount for any calendar year shall be subject to change at the Company’s discretion and upon written notice to Executive.

  • The credit balance would be added to Foods' pre-tax earnings in FY 2002 for purposes of determining his Annual Variable Compensation.

  • For example, if Foods' pre-tax earnings in FY 2001 exceed the Base Level by $25 million, Fielding would receive Annual Variable Compensation of $1.5 million ($15 million x 10%) and would have a credit balance of $10 million.

Related to Annual Variable Compensation

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

  • Base Compensation means the amount equal to the sum of (i) the greater of Executive’s then-current Annual Base Salary or Executive’s Annual Base Salary as of the date one day prior to the Change in Control, and (ii) the Average Incentive Bonus.

  • Annual Salary means the salary given under this Part.

  • Earnable compensation means the full rate of the

  • Additional Compensation has the meaning set out in Section 13.3(1).