Potential Annual Award Definitions from Business Contracts | Business Dictionary

Potential Annual Award. Means the maximum possible Annual Award the Executive could receive according to his or her Incentive Bonus Arrangement for the calendar year immediately preceding the Change Year or the calendar year that is the Change Year, whichever is higher, assuming that (1) the parameters for the maximum Annual Award, under the Executive's Incentive Bonus Arrangement were met (whether or not such parameters for such maximum Annual Award actually were or could be met) and (2) the Executive's Annual Base... Salary is used to determine the Potential Annual Award. View More

Found in State Auto Financial CORP contract

Potential Annual Award. Means the maximum possible Annual Award Executive could receive for the fiscal year immediately preceding the Change Year or the fiscal year that is the Change Year, whichever is higher, assuming that (1) the parameters for the maximum Annual Award were met (whether or not such parameters for such maximum Annual Award actually were or could be met) and (2) Executive's Annual Base Salary is used to determine the Potential Annual Award. Notwithstanding the foregoing, the Potential Annual Award in... the event of a Change of Control as defined in Section 2(d)(6) shall mean the average of the annual aggregate bonus under the Short Term Incentive Plans (or its successors) earned by Executive in each of the two calendar years immediately preceding the calendar year in which the Change of Control occurs. View More

Found in State Auto Financial CORP contract

Potential Annual Award. Means the maximum possible Annual Award the Executive could receive according to his or her Incentive Group pursuant to the Corporation's Incentive Compensation Plan assuming that (1) the Corporation met the maximum Qualifying Performance Criteria for the Corporation's Incentive Compensation Plan for a particular fiscal year (whether or not such maximum Qualifying Performance Criteria was or could be met); (2) there are no adjustments for business unit or individual performance, and (3) the... Executive's Base Annual Salary is used to determine the Potential Annual Award. View More

Found in Huntington Bancshares contract