Average Long Term Incentive Compensation definition

Average Long Term Incentive Compensation means the higher of:

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Average Long Term Incentive Compensation means the higher of: (i) the average of the long term incentive compensation payable to Meye▇ ▇▇▇ each of the last two years immediately preceding the Relevant Year or, if, for any reason, long term incentive compensation was payable to Meye▇ ▇▇▇ only one of those two years, the amount of long term incentive compensation payable to Meye▇ ▇▇▇ that year, and (ii) Meye▇'▇ ▇▇▇geted long term incentive compensation for the multi-year cycle beginning with the year immediately preceding the Relevant Year. For these purposes, an incentive compensation award payable to Meye▇ under any incentive compensation plan with respect to a period of more than one year will be deemed to be "for" the last year of that multi-year period. As used in this Section 21.2, incentive compensation means any cash based incentive compensation, including bonuses, and is calculated before any reduction on account of deferrals; short term incentive compensation means incentive compensation under all plans for periods of time of one year or less and long term incentive compensation means incentive compensation under all plans for periods of time of more than one year; targeted long term or short term incentive compensation, as the case may be, means: (w) if the incentive compensation plan, program, or arrangement in question designates a targeted amount or a targeted level of achievement applicable to Meye▇, ▇▇ means that targeted amount or level, (x) if the incentive compensation plan, program, or arrangement in question has only one level of payout applicable to Meye▇ (▇▇her than zero), it means that level (i.e. the level other than zero), (y) if the incentive compensation plan, program, or arrangement in question does not designate a targeted amount or level of achievement applicable to Meye▇ ▇▇▇ does have multiple anticipated levels of possible payout or achievement applicable to Meye▇, ▇▇ means (in each case excluding from consideration any level that results in zero payout) the middle level of payout or achievement applicable to Meye▇ (▇▇ if there are an even number of levels, the average of the two levels if there are only two levels or the average of the middle two levels if there are four or more levels), and (z) in all other cases, the amount anticipated or projected to be paid under the plan, program, or arrangement in question at the time the performance period in question commenced.

Average Long Term Incentive Compensation shall be not less than the dollar value of the LTIC Stock Grant target specified in that offer letter or agreement. For purposes of this Section 8.3 the dollar value of any LTIC Stock Grant means the aggregate Fair Market Value of the Common Shares subject to that grant (whether those Common Shares are restricted Common Shares or Performance Shares) as of the date the grant is made, taking into account all and only all of the target level of those Common Shares that are subject to the particular LTIC Stock Grant, without regard to changes in Key's stock price after the date of grant or to any restrictions on or contingencies concerning those Common Shares.

Examples of Average Long Term Incentive Compensation in a sentence

The term "Average Annual Incentive Compensation" means the sum of Average Short Term Incentive Compensation, as defined in clause (a) below, and Average Long Term Incentive Compensation, as defined in clause (b) below.
The term “Average Annual Incentive Compensation” means Average Short Term Incentive Compensation, as defined in Section 8.4 below and Average Long Term Incentive Compensation, as defined in Section 8.3 below.
The term “Average Annual Incentive Compensation” means the sum of Average Short Term Incentive Compensation, as defined in Section 8.4 below, and Average Long Term Incentive Compensation, as defined in Section 8.3 below.
The term “Average Annual Incentive Compensation” means the sum of Average Short Term Incentive Compensation, as defined in Section 25.4 below, and Average Long Term Incentive Compensation, as defined in Section 25.3 below.
Key shall pay to M▇▇▇▇, within 30 days after the Termination Date, a lump sum severance benefit equal to three times the sum of (i) one year’s Base Salary (at the highest rate in effect at any time before the Termination Date) plus (ii) his Average Short Term Incentive Compensation plus (iii) 50% of his Average Long Term Incentive Compensation.
The term "Average Annual Incentive Compensation" means the sum of Average Short Term Incentive Compensation, as defined in Section 25.4 below, and Average Long Term Incentive Compensation, as defined in Section 25.3 below.
Key shall pay to M▇▇▇▇, at the time specified in Section 7.1(h), a lump sum severance benefit equal to three times the sum of (i) one year’s Base Salary (at the highest rate in effect at any time before the Termination Date) plus (ii) his Average Short Term Incentive Compensation plus (iii) 50% of his Average Long Term Incentive Compensation.

More Definitions of Average Long Term Incentive Compensation

Average Long Term Incentive Compensation means the higher of: (i) the average of the "Applicable Amounts" (as defined in clauses (x) and (y) below) of the long term incentive compensation awards payable to the Executive for each of the last two multi-year cycles that ended before the Change Year or, if, for any reason, long term incentive compensation was payable to the Executive for only one of those two multi-year cycles, the Applicable Amount of the long term incentive compensation award payable to the Executive for that multi-year cycle, and (ii) the Applicable Amount of the Executive's targeted long term incentive compensation award for the multi-year cycle that began with the Change Year or, if higher or if no multi-year cycle began with the Change Year, the Applicable Amount of the Executive's targeted long term incentive compensation award for the most recently commenced multi-year cycle that began before the Change Year,

Average Long Term Incentive Compensation means the Applicable Amount of the Executive's targeted long

Average Long Term Incentive Compensation means the Applicable Amount of the Executive's targeted long term incentive compensation award for the most recently commenced multi-year cycle. For these purposes: