Target AIP Bonus definition
Target AIP Bonus means the annual Target AIP Bonus payable to the Executive pursuant to any annual bonus or incentive plan for the Executive, as approved by the Compensation Committee of the Board, in respect of the fiscal year during which the Termination Date occurs. The Target AIP Bonus includes the short-term cash incentive portion of the annual bonus that is subject to any deferral election but does not include restricted stock awards, options or other long-term equity incentive compensation awarded to the Executive.
Examples of Target AIP Bonus in a sentence
You will have the opportunity to earn an award under the Company’s Annual Incentive Plan (including any successor plan, the “AIP”), with a target annual AIP bonus opportunity equal to one hundred twenty percent (120%) of Base Salary (“Target AIP Bonus”) and a maximum annual AIP bonus opportunity equal to two hundred percent (200%) of the Target AIP Bonus.