Definition of Covered Employee Annual Incentive Award


Covered Employee Annual Incentive Award means an Award granted to a Covered Employee as described in Article 12.
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Examples of Covered Employee Annual Incentive Award in a sentence

The maximum aggregate amount awarded or credited in any one (1) Plan Year with respect to a Covered Employee Annual Incentive Award may not exceed the lesser of five (5) times such Employee's annual base salary as in effect on March 1 of such Plan Year, or $5,000,000.
The maximum aggregate amount awarded or credited in any one Plan Year with respect to a Covered Employee Annual Incentive Award shall be determined in accordance with Article 12.
As soon as practicable following the end of each Plan Year, the Committee shall certify whether each Covered Employee otherwise satisfied the requirements of this Plan to receive a Covered Employee Annual Incentive Award.
The Plan provides for a Covered Employee Annual Incentive Award based on Consolidated Operating Earnings and Net Earnings, which is also intended to qualify as Performance-Based Compensation.
The maximum aggregate Covered Employee Annual Incentive Award which may be paid in any one Plan Year shall be determined in accordance with Article 13.