Target Cash Incentive definition
Examples of Target Cash Incentive in a sentence
Similarly, the actual amount of long-term incentive cash award to be paid to you with respect to your PSUs (the “Cash Incentive”) will be determined by multiplying the Target Cash Incentive listed above by the applicable FCF Multiplier and applicable rTSR Multiplier from the tables in this Section 2.
If a Change in Control occurs during the Performance Period, then you will be entitled to receive, no later than thirty (30) days following the effective date of the Change in Control, the Total Target Number of Shares and Target Cash Incentive covered by this Award Agreement without regard to the extent to which the otherwise applicable performance conditions of Section 2 above have been satisfied.
The maximum number of Shares that you may receive under this Award Agreement is two and one-half (2.5) times the Total Target Number of Shares and the maximum amount of Cash Incentive that you may be paid under this Award Agreement is two and one-half (2.5) times the Target Cash Incentive; however, those maximums will be payable only if the Company attains both the Maximum level of FCF Metric performance and 1st Quartile level of rTSR Metric performance indicated in Section 2 above.
Executive's Target Cash Incentive Pay, as a percentage of Base Salary, shall be reviewed by the Compensation Committee on an annual basis.
The Executive will be entitled to receive a severance benefit equal to the product of (i) the sum of (A) the Executive’s Annual Base Salary, plus (B) the Executive’s Annual Target Cash Incentive, multiplied by (ii) one.
If EBITA in any Fiscal Year is 80.00% of the Target Level for such Fiscal Year, the Cash Incentive Compensation payable in respect of such Fiscal Year shall be 33.333% of the Target Cash Incentive Amount.
If EBITA in any Fiscal Year exceeds 80.00% of the Target Level, the percentage of the Target Cash Incentive Amount payable in respect of such Fiscal Year shall be equal to the sum of (i) 33.333% plus (ii) 3.333% for each percentage point (calculated to the nearest 1/100th of a percentage point) by which EBITA in such Fiscal Year exceeds 80.00% of the Target Level.
If EBITA in any Fiscal Year during the Employment Term exceeds 100.00% of the Target Level for such Fiscal Year, the Cash Incentive Amount payable hereunder in respect of such Fiscal Year, as calculated in accordance with the immediately preceding sentence, can exceed the Target Cash Incentive Amount.
The Company shall also pay to the Executive a lump sum amount equivalent to the Executive’s Target Cash Incentive Amount then in effect, which amount shall be paid in one (1) lump sum within sixty (60) days following the Executive’s Separation from Service, provided that the Executive or an individual duly authorized to execute legal documents on the Executive’s behalf executes and does not revoke the release described in Section 4(k)(ii).
If, upon the conclusion of each Performance Period, the Company’s Consolidated EBITDA for the Performance Period equals or exceeds the maximum level, as set forth in the Performance Matrix contained in the Statement of Performance Goals, 150% of the Target Cash Incentive Award allocated to such Performance Period shall become earned.