Target Total Direct Compensation definition
Target Total Direct Compensation means, (a) with respect to any Heritage DuPont Employee with a salary grade below 13 or any Heritage Dow Employee with a salary grade below 415, base pay plus target annual variable pay; and (b) with respect to any Heritage DuPont Employee with a salary grade at or above 13 or any Heritage Dow Employee with a salary grade at or above 415, base pay plus target annual variable pay plus target long term incentive compensation.
Target Total Direct Compensation means, for any Plan Year, the sum of an Executive’s Base Salary, Annual Bonus and annual stock or other long-term incentive award for that Plan Year, each calculated at the target level specified by the Committee for that Plan Year.
Examples of Target Total Direct Compensation in a sentence
Target Total Direct Compensation on an annualized basis of $7,439,998, as follows: Base Salary $ 920,200 This amount approximates 50th percentile CEO base salary versus approved compensation competitor group (based on the combined business following the closing of the Finisar acquisition).
For years subsequent to 2012, the Executive will be eligible to receive additional grants of equity-based compensation as the Board of Directors or the Compensation Committee thereof determines, with the understanding that the parties intend for the Executive’s total direct compensation for each year of the Term to equal at least the Target Total Direct Compensation.