Annual Incentive Program. You shall participate in an equitable manner with all other senior management employees in the annual incentive program approved by the Board or the Compensation Committee. No other compensation provided for in this Agreement shall be deemed a substitute for your right to participate in such annual incentive program.
Annual Incentive Program. Executive shall be eligible to participate in any annual incentive program maintained by the Company and its subsidiaries to the same extent as other executives of the Company and its subsidiaries and shall be eligible to receive cash incentive awards thereunder, as determined by the Board of Directors of the Company (as applicable, the “Board”) or a committee of the Board.
Annual Incentive Program. The Executive shall be entitled to participate in the Company’s Annual Incentive Program (the “Annual Incentive Program”) according to the terms of the Annual Incentive Program which Annual Incentive Program the Company may, in the Company’s discretion, change or amend from time to time.
Annual Incentive Program. 1. CityNon-Taxable contribution to Retiree Medical Trust (RMT) 457 plan for a percentage (see 3. below) of unused sick leave hours earned in a fiscal year. (See Article V. Benefits, Section E. Retiree Medical Trust.)
Annual Incentive Program. The Company will establish an Annual Incentive Program (“Program”), as set forth in Attachment A, that shall substitute for and replace the Variable Wage Adjustment Program included in the Restructuring Agreement.
Annual Incentive Program. In addition to Base Salary, for each year commencing 1998 Employee shall be eligible to receive a performance based bonus under the Company's Annual Incentive Program ("Performance Bonus") if certain pre-established performance objectives are obtained ("Performance Goals"). The Compensation Committee shall establish a range of Performance Goals by March 31 of each year. The Compensation Committee shall determine annually within 60 days after completion of the Company's year end audit whether the Performance Goals for the preceding year have been achieved. If the Performance Goals for the preceding year have been achieved, the Compensation Committee shall certify such fact to the Company, and the Company shall pay such Performance Bonus to Employee as soon as administratively feasible following such certification. The Compensation Committee shall establish a maximum Performance Bonus of 60% of Base Salary, a target Performance Bonus of 40% of Base Salary, and a threshold Performance Bonus of 20% of Base Salary which shall be paid to Employee based upon certification that the Performance Goals have been achieved. No Performance Bonus shall be paid for any year in which the threshold Performance Goal has not been achieved. No Performance Bonus may exceed $300,000. The Compensation Committee shall have the sole authority to administer and make determinations with respect to the Performance Bonus and Performance Goals.
Annual Incentive Program. Effective as of the Start Date, Executive shall participate in the Company’s Annual Incentive Program for its fiscal 2017 (the “FY17 AIP”) with a target award equal to 60% of the Annual Base Salary earned by Executive in fiscal 2017; provided that (i) Executive’s Annual Base Salary earned in fiscal 2017 shall be calculated as if the Start Date was February 1, 2017; and (ii) payment under the FY17 AIP shall not be less than 50% of target.
Annual Incentive Program. 29.1 For the term of this agreement, beginning for the year 2021 (payable in 2022) employees will participate in the Vistra Broad-Based Annual Incentive Plan, subject to all terms and conditions of the plan as they may be modified from time to time in the Company’s sole discretion. Individual performance modifiers will not be used in determining payout amounts for Represented employees. No part of the plan shall be subject to grievance or arbitration under this Agreement under any circumstance, except in the limited instance in which an employee contends he or she was not paid in accordance with the terms of the plan. The target award is 6% of the employee’s annual base wage earnings.
Annual Incentive Program. ‘AIP’ The AIP quantum and payment shall be at the discretion of the Company and shall not constitute a legal entitlement. It shall be based on individual and Company’s performance as well as benchmarked Key Performance Indicators. Any AIP payments for the fiscal year in which the Employee’s employment begins will be pro-rated based on the number of days he/she is employed with the Company during that fiscal year. All decisions of the Company in relation to an Employee’s bonus shall be final and binding. Please refer to Annual Incentive Plan rules specific for the current year”. [58] What is constant amongst these various versions of the Vale Employment Handbooks are that the AIP payments are always dependent on the individual’s and the Company’s performance as well as benchmarked by Key Performance Indicators (KPI). The payment of the AIP is clearly at the discretion of the Company and based on performances and KPIs, thus COW-2’s testimony that it is payable regardless of whether an employee is a good or bad performer cannot be accepted by this Court. Otherwise, it would not make sense to even have such a provision as Clause 5.5 (Revision No. 6) and Clause 5.4 (Revision No. 4) in the Vale Employment Handbook. [59] COW-2’s representation (and supported by COW-1) to the Claimant during the meeting on 28 January 2019 clearly affected the state of mind of the Claimant. COW-2’s testimony that it was the Claimant who had suggested for a mutual separation agreement and that she was surprised that the Claimant even made such a suggestion is highly circumspect. Firstly, the Claimant did not even know of the alleged issue of his lackadaisical attitude. Secondly, from COW-2’s statement in her witness statement (COWS-2[C]; Q & A No. 4), it is obvious that she was ready with the compensation offer despite being purportedly surprised with the Claimant’s alleged suggestion for a mutual separation agreement. [60] Both COW-1 and COW-2 did not deny the fact that they told the Claimant that he will be put under a domestic inquiry and he will have to prove at that platform that he was a performer in his role. [61] The speed in which COW-2 and COW-1 acted in getting the Claimant to execute the Termination Agreement by the very next day is rather telling. The Court can only deduce that both COW-1 and COW-2 planned the meeting of 28 January 2019 to force the Claimant into signing the Termination Agreement. The Claimant was given 24 hours to decide by COW-2. The Claimant was told...
Annual Incentive Program. Full-time and Part-time bargaining unit case managers will participate in the discretionary annual incentive program in accordance with the incentive plan rules and process at the time of distribution.
