Target Total Compensation definition
Examples of Target Total Compensation in a sentence
Notwithstanding anything herein to the contrary, with respect to each subsequent Fiscal Year that ends during the Term, commencing with Fiscal Year 2012, the sum of the Annual Base Salary and the target Annual Bonus (the “Target Total Compensation”) for any such Fiscal Year shall be no less than the Target Total Compensation for the immediately preceding Fiscal Year.
See Exhibit A for actual historical Annual Base Salary, target Annual Bonus and Target Total Compensation.
Each role may have several levels of base pay and Target Total Compensation (“TTC”), including base plus variable compensation) within each title, based upon assigned territory.
The Company shall have the discretion to change the draw Percent of Monthly Variable Compensation Target over the course of the contract, including increasing or decreasing the number of months paid, and/or increasing or decreasing the percent paid, in order to ensure that reps are attaining Target Total Compensation.
A non-recoverable draw (“draw”) shall be paid during the first twelve months of continuous employment for the purpose of transitioning employees into the Sales Executive role and aiding their attainment of Target Total Compensation.
The Company shall provide a Total Compensation Statement (or similar document) to the Executive designating the Executive’s Target Total Compensation at least once with respect to each Performance Year, at or near the beginning of such Performance Year and at or near the date any changes to the Executive’s compensation become effective during a Performance Year.
Target Total Compensation (“TTC”) shall be defined as a sales rep’s total pay, including base compensation plus variable compensation at quota (including quota attainment, commissions, contests and sales incentives).
In such an event, and upon termination, the Employer shall pay to the Employee twelve (12) months Target Total Compensation as well as all standard relocation costs (together with Tax Gross Up) to relocate the Employee to either Atlanta, South Florida or equivalent, at the Employee’s sole discretion.
Target Total Compensation shall not include retention awards, spot bonus awards, sign-on bonuses, special equity awards, the value of Company provided benefits, pay associated with perquisites or relocation, and other bonuses and incentives not communicated as part of Your target total annual compensation as set forth in Your Total Compensation Statement.
In such an event, and upon termination, the Employer shall pay to the Employee twelve months Target Total Compensation as well as all standard relocation costs (together with Tax Gross Up) to relocate the Employee to either Atlanta, New York or equivalent at the Employee’s sole discretion.