Definition of Target Annual Incentive Payment


Target Annual Incentive Payment means shall mean the award that the Participant would have received under the annual incentive compensation plan applicable to such Participant for the year in which the Participant's Termination occurs, if one hundred percent (100%) of the annual target award has been earned. Participants not participating in an annual incentive compensation plan that has predefined target levels will be treated as though they were participants in an annual incentive plan with such targets and will be assigned the same annual target percent as their participating peers in a comparable salary grade.
Sample 1

Examples of Target Annual Incentive Payment in a sentence

Participants shall receive salary and bonus severance as follows: (i)Tier 1 Employees shall receive payment equal to 200% of the sum of (A) the Tier 1 Employee's Base Salary, plus (B) the Tier 1 Employee's Target Annual Incentive Payment (with both Base Salary and Target Annual Incentive Payment being determined without regard to any decrease in such Base Salary or Target Annual Incentive Payment that would constitute a basis for a Good Reason Resignation).