Performance Based Compensation. If you are a Covered Employee, it is intended that all payments under this Annual Performance Award constitute “qualified performance-based compensation” within the meaning Section 162(m) of the Code and the Plan. This Annual Performance Award is to be construed and administered in a manner consistent with such intent.
Appears in 6 contracts
Sources: Annual Performance Award Agreement (Toro Co), Annual Performance Award Agreement (Toro Co), Annual Performance Award Agreement (Toro Co)
Performance Based Compensation. If you are a Covered Employee, it is intended that all payments under this Annual Performance Share Award constitute “qualified performance-based compensation” within the meaning Section 162(m) of the Code and the Plan. This Annual Performance Share Award is to be construed and administered in a manner consistent with such intent.
Appears in 5 contracts
Sources: Performance Share Award Agreement (Toro Co), Performance Share Award Agreement (Toro Co), Performance Share Award Agreement (Toro Co)