Common use of Target Incentive Payment Clause in Contracts

Target Incentive Payment. The Executive’s estate shall be entitled to receive a prorated Target Incentive Payment for the calendar year in which the Executive’s death occurs, equal to the highest Target Incentive Payment that the Executive could have earned in such year multiplied by a fraction, the numerator of which is the number of days from the first day of such calendar year through date of the Executive’s death and the denominator of which is 365. This prorated Target Incentive Payment shall be paid in a single lump sum no later than March 15 of the calendar year following the calendar year in which the Termination Date occurs.

Target Incentive Payment. The Executive’s estate shall be entitled to receive a prorated Target Incentive Payment under the Target Incentive Payment Plan for the calendar year in which the Executive’s death occurs, equal to the highest Target Incentive Payment that the Executive could have earned in such year multiplied by a fraction, the numerator of which is the number of days from the first day of such calendar year through date of the Executive’s death and the denominator of which is 365. This prorated Target Incentive Payment shall be paid in a single lump sum no later than March 15 of the calendar year following the calendar year in which the Termination Date occurs.