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How is Target Achievement defined in a legal contract?

• Target Achievement means the level of success required by a participant in a specified period in meeting performance goals for incentive compensation to be paid at the intended bonus level. This is determined by a [committee] following a [clause]. Seen in 23 SEC filings.
• Target Achievement means for any specified period, the desired level of accomplishment of a set of performance goals as decided by a [committee] in line with a [clause]. Seen in 2 SEC filings.
• Target Achievement means the level of accomplishment under one or more performance targets needed by a participant in a specified period for compensation to be paid at the intended bonus level, as may be decided by an [administrator] following a [clause]. Seen in 2 SEC filings.

Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

Target Achievement means attainment level needed, by a participant within a set period, successfully meeting performance goals for due compensation.

Relevant Contract Types

• Performance Contracts
• Employment Agreements
• Consulting Agreements
• Sales Agreements
• Partnership Agreements

Relevant Circumstances

• Variable compensation plans
• Performance-based bonus structures
• Goal-oriented work assignments
• Sales targets achievement

Relevant Sectors

• Human Resources
• Sales and Marketing
• Professional Services

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