Target Award Percentage definition

Target Award Percentage means the percentage of Base Salary determined by the Committee to reflect an appropriate incentive for each Participant based on the Participant’s responsibilities, opportunity and authority to affect overall financial results.

Target Award Percentage means with respect to any Performance Period, the percentage of the Key Associate’s Base Salary that the Key Associate would earn as an Award for that Performance Period if the targeted level of performance was achieved for each of the Performance Measures for that Key Associate for the Performance Period.

Target Award Percentage means the targeted percentage of Base Salary for the salary band level, as established by the Committee and set forth on Exhibit II, used to calculate the amount of the Participant’s incentive compensation award in accordance with Sections 6.A and 6.B.

Examples of Target Award Percentage in a sentence

• Unless otherwise determined by the Committee, a Participant’s Target Award Percentage for any given Performance Period will be based on his or her job classification as of the last day of such Performance Period.

• The number of Adjusted Award Units assigned to the Participant shall be obtained by taking the Participant’s Base Salary in effect on the last day of the Quarter multiplied by the Participant’s Target Award Percentage divided by one thousand (1000), adjusted for individual performance as provided in Section 6.C, multiplied by eighty percent (80%).

• The designated target award for each respective Participation Category is sometimes referred to herein as the "Target Award Percentage." Notwithstanding any contrary provisions of this Plan, the final award granted to any Participant under this Plan shall not be permitted to exceed the maximum award as a percentage of Salary for such Participant's Participation Category.

• For an eligible employee who at the time of their termination of employment was covered under the Marathon Petroleum Annual Cash Bonus Program (the “ACB Program”), an amount equal to the product of: (i) the eligible employee’s Target Award Percentage; and (ii) the eligible employee’s Eligible Wages paid up to their termination date.

• Target Award Percentage – is established annually and is a percentage of annual aggregate salary that reflects the varying impact of participant’s positions on business results.

More Definitions of Target Award Percentage

Target Award Percentage means a percentage of Base Salary assigned to a Designated Participant in accordance with the provisions of the Plan.

Target Award Percentage means with respect to any Performance Period, the percentage of the Key Associate’s Base Salary that the Key Associate would earn as an Award for that Performance Period if the targeted level of performance was achieved for each of the Performance Goals for that Key Associate for the Performance Period. Unless otherwise specified prior to the Performance Period (or, if later, at the time of the Key Associate’s participation in the Plan), Target Award Percentages will be based on a Key Associate’s grade level as follows:

Target Award Percentage means the applicable percentage specified in the footnote to the Performance Table for each year in the Performance Period.

Target Award Percentage means a Participant’s Target Award expressed as a percentage of Base Salary. This Percentage, which is determined as of the beginning of the Plan Year, may be changed during the Plan Year to reflect any promotion of a Participant during the Plan Year.

Target Award Percentage means the applicable Target Award Percentage set forth on Schedule B; provided, that, if a Participant (other than Participants eligible to receive an Award designated as “qualified performance-based compensation”) held more than one position during the Performance Period, then the Committee may designate different Target Award Percentages with respect to each position and the Award will be pro-rated to reflect (to the nearest bi-weekly increment) the period during which such Participant had each Target Award Percentage.

Target Award Percentage means a percentage designated by the Administer in its sole discretion at the beginning of the Measurement Period, which percentage need not be the same for each Participant.

Target Award Percentage means a Participant's Target Award expressed as a percentage of Base Salary.