Annual Target Compensation

Annual Target Compensation. Shall mean, at the Trigger Date, solely the sum of (i) Employee's then effective annual base salary rate plus (ii) the amount of Employee's target annual cash bonus under the variable incentive compensation plan then in effect for Employee as approved by the Compensation Committee of the Company's Board of Directors (or Employee's supervisor, if applicable), or if no such variable incentive compensation plan is in effect on the Trigger Date, the amount of Employee' target annual cash bonus... under the latest variable incentive compensation plan of the Company that was most recently in effect for Employee. For the avoidance of doubt, the term "Annual Target Compensation" shall not include any employee benefits, insurance, equity awards, auto or other expense allowances or any other item not expressly described in the preceding sentence. View More