STI definition
Examples of STI in a sentence
During the Employment Period, Executive shall be eligible, for each fiscal year of the Company or portion of such fiscal year ending during the Employment Period, for an annual short-term incentive award payout in cash (the “Annual STI Bonus”), with a target Annual STI Bonus opportunity equal to 100% of Executive’s Annual Base Salary actually earned for such fiscal year (“Target STI Bonus”).
Notwithstanding anything in this Agreement to the contrary, each Annual STI Bonus opportunity shall be on the terms and subject to such conditions as are specified for the particular Company plans or programs (if any) pursuant to which the Annual STI Bonus opportunity is granted.
There is no guaranteed Annual STI Bonus under this Agreement, and for each applicable fiscal year or portion of a fiscal year, Executive’s Annual STI Bonus could be as low as zero or as high as the maximum percentage applicable under the Company’s annual short-term cash incentive award program for such fiscal year or portion of a fiscal year.
Any Annual STI Bonus with respect to a particular fiscal year will be paid in accordance with the terms of the Company’s annual short-term cash incentive award program applicable for such fiscal year.
Immediately following the Closing Date, the officers and directors of STI shall resign and prior to such resignation shall appoint the directors identified by Aeternum Health under section 5.1 of this Agreement.