Target Incentive Opportunity means the percentage of the Participant's base salary paid from the Participant's effective date of participation through the end of the Plan Year, which will be paid if the target Performance Measures are achieved. Should a Participant have periods of illness or injury during the Plan Year, payments such as sick leave or disability pay, which are paid to the Participant in lieu of base salary during those periods, will be considered as base salary for the purpose of computing Incentive Compensation Awards.
Examples of Target Incentive Opportunity in a sentence
I understand that under the Plan I will receive severance pay equivalent to two (2) times my current base salary plus 100% of my Target Incentive Opportunity (TIO) under the Companys Management Incentive Compensation Plan (MICP) as set forth on the Individual Statement of Severance that I received from the Company and is incorporated as Exhibit 1 to this Agreement (my Severance Pay).
If eligible participating employee is laid off from IMS after working more than six (6) full months of the Plan Year, the employees Target Incentive Opportunity will be prorated based on the number of days worked during the year before any funding or performance factors are considered for final payout.
If an eligible employee has a base salary and or incentive target percent change during the Plan Year, the Target Incentive Opportunity for the Plan Year in which the change occurred will be prorated based on the effective date of the change(s).
If an eligible employee transfers out of the Plan during the Plan Year into another incentive plan (e.g., a Sales Plan), the Target Incentive Opportunity may be prorated based on the number of days the employee was participating in the Plan.
Achievement of Performance Measures exceeding target will result in an Incentive Compensation Award for the twelve-month period to which it relates up to 200% of the Target Incentive Opportunity.