Common use of LTPP Payment Clause in Contracts

LTPP Payment. You will receive a lump-sum payment equal to the bonus payment with respect to any completed performance period under the AK Steel Corporation Long-Term Performance Plan (“LTPP”) that has not been paid as of your Date of Termination (which amount shall not be less than it would be if calculated at your assigned target amount under the LTPP for such performance period), plus a prorated amount of the bonus payment with respect to any incomplete performance period calculated at your assigned target amount under the LTPP for each such performance period.