Target Payout definition
Target Payout means the amount payable to a Participant who meets exactly 100% of the assigned Performance Goals.
Target Payout means the cash payment in the amount of __% of the Participant’s 2013 base salary. For purposes of this Incentive Award, the term “Maximum Payout” means the cash payment in the amount of __% of the Participant’s 2013 base salary. For purposes of this Incentive Award, the term “AFFO” means the Company’s net income or loss as set forth in the Company’s audited financial statements for the year ended December 31, 2013, excluding gains (or losses) from sales of property, plus depreciation and amortization (including amortization of deferred financing costs and amortization of franchise royalty fees) as further adjusted to exclude hotel transaction and pursuit costs and such other items, including nonrecurring expenses, as the Committee determines is appropriate and consistent with the purpose and intent of this Incentive Award. For purposes of this Incentive Award, the term “actual 2013 AFFO per share of Common Stock” means the Company’s AFFO for the year ending December 31, 2013 (rounded to the nearest ▇▇▇▇▇), divided by the weighted average number of diluted shares of Common Stock and common units of limited partnership interest in Summit Hotel OP, LP outstanding on December 31, 2013 as set forth in the Company’s audited financial statements for the year ended December 31, 2013.
Target Payout means the cash payment in the amount of 20% of 100% of the Participant’s 2016 base salary. For purposes of the RevPAR Growth Component, the term “Maximum Payout” means the cash payment in the amount of 20% of 200% of the Participant’s 2016 base salary.
Examples of Target Payout in a sentence
It is calculated by multiplying the Target Payout by an agreed upon percentage as indicated in the Executive Compensation Plan Summary.
Target Payout Target Payout is the annual cash bonus that can be earned and paid under the STI.
Target Payout is calculated by multiplying Base Pay by an agreed upon percentage as indicated in the Executive Compensation Plan Summary.
Maximum Target Payout The Maximum Target Payout is the maximum annual cash bonus that can be earned and paid under the STI.
Maximum Target Payout The Maximum Target Payout is the maximum annual cash bonus that can be earned and paid under the LTI.
Maximum Target Payout The Maximum Target Payout is the maximum annual cash bonus that can be earned and paid under the STI Plan.
Target Payout is distributed over two years initially (then three years).
Target Payout Target Payout is the annual cash bonus that can be earned and paid under the STI Plan.
Target Payout Target Payout is the share-based cash bonus that can be earned under the LTI.
It is calculated by multiplying the Target Payout by an agreed upon percentage as indicated in Executive’s STI Plan Summary Table.
More Definitions of Target Payout
Target Payout means the amount payable to a Participant who meets exactly
Target Payout means the annual cash bonus that can be earned and paid under the Plan. Target Payout is calculated by multiplying Base Pay by an agreed upon percentage as designated by the Committee or specified in a Participant’s individual employment agreement.
Target Payout means the cash payment in the amount of 60% of 100% of the Participant’s 2016 base salary. For purposes of the AFFO component, the term “Maximum Payout” means the cash payment in the amount of 60% of 200% of the Participant’s 2016 base salary. For purposes of the AFFO Component, AFFO per share will be calculated as the Company’s net income or loss as set forth in its audited consolidated financial statements for the year ending December 31, 2016, excluding gains (or losses) from sales of property, plus depreciation and amortization (including amortization of deferred financing costs and amortization of franchise application fees), as further adjusted to exclude hotel transaction and pursuit costs, equity based compensation, debt transaction costs, gain (or loss) on derivative instruments and such other items, including nonrecurring expenses, as the Committee determines is appropriate and consistent with the purpose and intent of this Incentive Award. For purposes of this Incentive Award, the term “actual 2016 AFFO per share of Common Stock” means the Company’s AFFO for the year ending December 31, 2016 (rounded to the nearest ▇▇▇▇▇), divided by the weighted average number of diluted shares of Common Stock and common units of limited partnership interest in Summit Hotel OP, LP outstanding on December 31, 2016 as set forth in the Company’s audited financial statements for the year ended December 31, 2016. RevPAR Growth Component. Under the RevPAR Growth Component, the Participant may earn a cash payment based on the Company’s year over year comparison of RevPAR growth for the Company’s same store hotels (hotels owned for the entire year ended December 31, 2015 and the entire year ending December 31, 2016, excluding assets held for sale). If the Company’s actual 2016 RevPAR Growth for its same store hotels is a least _____%, the Participant shall be entitled to the Minimum Payout (as defined below) under the RevPAR Growth Component. If the Company’s actual 2016 RevPAR Growth for its same store hotels is a least _____%, the Participant shall be entitled to the Target Payout (as defined below) under the RevPAR Growth Component. If the Company’s actual 2016 RevPAR Growth for its same store hotels is a least _____%, the Participant shall be entitled to the Maximum Payout (as defined below) under the RevPAR Growth Component. No additional amount shall be paid to the Participant under the RevPAR Growth Component if the Company’s actual 2016 RevPAR Growth for its sa...