Short Term Incentive Award. The Executive shall be entitled to an award under the STIAP based on performance results for the year in which the Executive's Retirement Date occurs, prorated to the Executive's Retirement Date. The payment described in this Section 3 shall be subject to all other terms and conditions of STIAP.
Short Term Incentive Award. The incentive payment you receive will be determined by multiplying (a) your Eligible Earnings (base compensation, including vacation and holiday pay, earned during the fiscal year), times (b) your Target Short-Term Cash Incentive Opportunity shown below, times (c) the Company Achievement Percentage, which will be determined by how La-Z-Boy Incorporated performs in <<Goals>> during the fiscal year. PERFORMANCE PERIOD: Fiscal Year TARGET SHORT-TERM CASH INCENTIVE OPPORTUNITY: % of Eligible Earnings COMPANY ACHIEVEMENT PERCENTAGE RANGE: 0% - 200% Your signature below indicates your agreement that the foregoing grants and award are subject to all of the terms and conditions contained in the Plan, in attached Appendix A as well as in the accompanying Notification. Your signature below also indicates that you have received and read a copy of the Plan. The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated by reference. In the event of a conflict between any term or provision contained in this Agreement and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail. La-Z-Boy Incorporated Employee Xxxx Xxxxxx Chairman, President and Chief Executive Officer
Short Term Incentive Award. The Executive shall be entitled to receive a short-term bonus award in the sole discretion of the Board and in accordance with the Corporation’s Short Term Bonus Plan, which is to be as established by the Board. The annual target bonus shall be 50% of base salary, based upon achievement of budgeted annual financial performance approved by the Board and individual performance. No Short Term Bonus shall be payable in the circumstances described in Section 4.1 and 4.
Short Term Incentive Award. For each complete performance year ending during the Term, the Executive shall be eligible to participate in the Company's short-term incentive arrangements as in effect from time to time (the "Short-Term Incentive Award"). The Executive's target Short-Term Incentive Award opportunity for each complete performance year during the Term shall not be less than one hundred percent (100%) of his Annual Base Salary (the "Target Short-Term Incentive Opportunity"). The Short-Term Incentive Award shall be determined (A) prior to the Transaction, by the CIT Compensation Committee, and (B) following the Transaction, the appropriate committee of the board of directors of either SpinCo (in the event of a Spinoff) or the Acquiror (in the event of a Sale); provided, however, that notwithstanding anything contained herein to the contrary, the Executive's Short-Term Incentive Award for the 2016 performance year shall be a cash payment of no less than $1,090,000, prorated in the case of a Transaction completed before December 31, 2016 for the period from January 1, 2016 through the Closing Date (in the case of a Sale) or the Spinoff Effective Date (in the case of a Spinoff), subject to the Executive's continued employment through such date. The Short-Term Incentive Award, if any, shall be paid not later than the fifteenth (15th) day of the third (3rd) month following the end of the performance year to which it relates.
Short Term Incentive Award. With respect to each calendar year beginning on or after January 1, 2014, Executive will be eligible to receive an annual incentive bonus under the Company’s annual incentive program as in effect from time to time, with a target bonus opportunity of 100% of Base Salary (the “Bonus”), based upon the attainment of one or more pre-established performance goals established by the Board or the Committee, within 90 days after the beginning of the calendar year, after consultation with Executive and prorated for any partial fiscal year during the Employment Term. Any Bonus paid to Executive, less applicable tax withholding, will be distributed pursuant to policies as determined by the Company, provided that payment of any Bonus will in all events be made in the calendar year following the calendar year to which such Bonus relates and within two and a half months following the end of the calendar year to which such Bonus relates. The Board, acting at its sole option and election, may increase (but may not decrease unless the reduction in Bonus is part of a program approved by the Board that affects all executives on a consistent basis) Executive’s target Bonus opportunity.
Short Term Incentive Award. In addition to Base Salary, the Employee will be eligible to earn a short-term incentive award for each fiscal year ending during the Employment Period in accordance with the terms and conditions of the Company’s short-term incentive plan for executive officers as approved by the Committee (the “Bonus”), with an annual target bonus opportunity of 100% of Base Salary (as in effect from time to time in accordance with this Agreement, the “Target Opportunity”). For the year ended December 31, 2018, the Employee will be entitled to a Pro-Rata Bonus, which will be paid at the same time bonuses are paid to other executive officers of the Company.
Short Term Incentive Award. With respect to each calendar year beginning after December 31, 2010, Executive will be eligible to receive an annual incentive bonus under the Company’s annual incentive program as in effect from time to time, with a target bonus opportunity of 100% of Base Salary (the “Bonus”), based upon the attainment of one or more pre-established performance goals established by the Board or the Committee, within 90 days after the beginning of the calendar year, after consultation with Executive and prorated for any partial fiscal year during the Employment Term. Any Bonus paid to Executive, less applicable tax withholding, will be distributed pursuant to policies as determined by the Company, provided that payment of any Bonus will in all events be made in the calendar year following the calendar year to which such Bonus relates and within 75 days following the end of the calendar year to which such Bonus relates.
Short Term Incentive Award. The incentive payment you receive will be determined by multiplying (a) your Fiscal Year 2021 eligible earnings (based on base compensation, including vacation and holiday pay), times (b) your Target Short-Term Cash Incentive Opportunity shown below, times (c) the Company Achievement Percentage, which will be determined by how the Company performs in <<Goals>> during the fiscal year. PERFORMANCE PERIOD: Fiscal Year TARGET SHORT-TERM CASH INCENTIVE OPPORTUNITY: % of Eligible Earnings COMPANY ACHIEVEMENT PERCENTAGE RANGE: 0% - 150%* *The Committee shall have the right to reduce or eliminate the amount that would otherwise be payable to you based on the achievement of the performance goals with respect to the Short-Term Incentive Award for Fiscal Year XXXX if the Committee determines, in its sole discretion, that such reduction or elimination is appropriate and in the best interests of the Company based on such other factors considered by the Committee, in its sole discretion, including Company performance on other metrics, macroeconomic factors and/or individual performance. Your signature below indicates your agreement that the foregoing grants and award are subject to all of the terms and conditions contained in the Plan, in this Agreement, in attached Appendix A and in the accompanying Notification. Your signature below also indicates that you have received and read a copy of the Plan. The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated by reference. In the event of a conflict between any term or provision contained in this Agreement and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail. La-Z-Boy Incorporated Employee Xxxx Xxxxxx Chairman, President and Chief Executive Officer Date
