2023 ABIP Sample Clauses

2023 ABIP. Employee will also be eligible to earn a prorated annual incentive under the Company’s annual bonus incentive program for 2023 (“2023 ABIP”). The amount of the prorated 2023 ABIP, if any, will be equal to the product of (a) multiplied by (b), where (a) is the amount earned in respect of 2023 performance under the 2023 ABIP as determined by the Board or a duly authorized committee of the Board in accordance with 2023 ABIP calculations applicable to similarly situated executives of the Company prior to the Transition Date and (b) is a fraction, the numerator of which is the number of days in 2023 through the Employment Termination Date and the denominator of which is 365. Any prorated 2023 ABIP earned will be paid in accordance with the Company’s standard practices by March 15, 2024. For the avoidance of doubt, Employee will not be eligible to participate in the Company’s annual bonus incentive program for 2024.
Sample 1
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Related to 2023 ABIP

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