SIP Incentive Pay definition
SIP Incentive Pay means the quarterly bonus and/or incentive compensation accrued or payable to eligible sales personnel employed at the Hotel as of the Closing Date based on sales achieved during the applicable quarter in accordance with Employer’s policies and procedures for calculating and paying such bonus and/or incentive compensation.
Examples of SIP Incentive Pay in a sentence
The PMIP Incentive Pay and SIP Incentive Pay shall be prorated as of the Cut-Off Time between Seller and Purchaser.