(d) Corporation means Parsons Corporation and any of its subsidiary companies of any tier.
(e) Participant means each employee of the Corporation selected to participate in the Plan for each Performance Cycle.
(f) Performance Cycle means a fiscal year of the Corporation.
(g) Plan means the Parsons Corporation Annual Incentive Plan.
(h) Annual Incentive Opportunity Target means the target value of the incentive which could potentially be earned by an eligible Participant in respect of a Performance Cycle.
(i) Annual Incentive Award means the value of the cash incentive payment earned by an eligible Participant under the Plan in respect of a completed Performance Cycle.
(j) Incentive Award Pools means the amount of cash available to pay Annual Incentive Awards earned under the Plan as determined pursuant to Section 3.5.
ANNUAL INCENTIVE OPPORTUNITY TARGETS AND AWARDS
Section 3.1 Authority of the Compensation Committee. With respect to the Plan, the Compensation Committee shall in its discretion:
(a) Determine the funding level of any Incentive Award Pool for Participants,
(b) Determine the Annual Incentive Opportunity Target and Annual Incentive Award for the CEO,
(c) Review and approve the Annual Incentive Opportunity Targets and Annual Incentive Awards recommended by the CEO for Presidents and other key officers designated by the Compensation Committee for review and approval,
(d) Delegate to the Salary Committee the authority to determine Annual Incentive Opportunity Targets and Annual Incentive Awards for all other participants in the Plan,