2000 Long-Term Incentive Compensation Plan - Restricted Stock Awards Sample Clauses

2000 Long-Term Incentive Compensation Plan - Restricted Stock Awards. Under the Company’s 2000 Long-Term Incentive Compensation Plan, effective as of January 1, 2000 (the “2000 LTIP”), Employee has outstanding Restricted Stock Awards for the three-year Performance Cycles beginning in 2004, 2005 and 2006. The Company agrees that the restrictions applicable to the awards of Restricted Shares and the maximum amount of Opportunity Shares relating to the 2004 and 2005 Performance Cycles lapse in proportion to the number of days elapsed in each Performance Cycle from the first date of the Performance Cycle to the Separation Date. Consequently, with respect to the 2004 Performance Cycle, restrictions will lapse on 3,864 Restricted Shares and 3,864 Opportunity Shares. With respect to the 2005 Performance Cycle, restrictions will lapse on 2,377 Restricted Shares and 2,377 Opportunity Shares. With respect to the 2006 Performance Cycle, Employee shall be entitled to a prorated portion of the actual award, if any, at the completion of the Performance Cycle on December 31, 2009. Such portion of Restricted Shares, Opportunity Shares and related Common Stock Equivalent Units shall be determined by the number of days elapsed from the first date of the 2006 Performance Cycle to the Separation Date. All other Restricted Shares, Opportunity Shares, and Common Stock Equivalent Units related to outstanding Restricted Stock Awards shall be canceled and forfeited to the Company, and Employee shall have no further right to such forfeited Restricted Shares, Opportunity Shares or Common Stock Equivalent Units. The earned portion of Restricted Shares related to the 2004 and 2005 Performance Cycles shall be distributed to Employee within 30 days following the Separation Date. The earned portion of Opportunity Shares related to the 2004 and 2005 Performance Cycles shall be distributed as of February 14, 2007, along with any dividend equivalents regularly accruing on such Opportunity Shares, as provided under the Company’s 2000 LTIP and Employee’s individual awards thereunder. Employee will be entitled to payment of an income tax adjustment on the prorated Restricted Shares and Opportunity Shares that lapse under the 2004 and 2005 Performance Cycles, pursuant to Section 12.4 of the 2000 LTIP. For purposes of performing this calculation, the value of the prorated Restricted Shares will be determined at the close of the New York Stock Exchange on the Separation Date. The estimated income tax adjustment associated with the value of the Restricted Shares sha...
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Related to 2000 Long-Term Incentive Compensation Plan - Restricted Stock Awards

  • Long-Term Incentive Awards The Executive shall participate in any long-term incentive awards offered to senior executives of the Company, as determined by the Compensation Committee.

  • Long-Term Incentive Award During the Term, Executive shall be eligible to participate in the Company’s long-term incentive plan, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

  • Long-Term Incentive Compensation Subject to the Executive’s continued employment hereunder, the Executive shall be eligible to participate in any equity incentive plan for executives of the Firm as may be in effect from time to time, in accordance with the terms of any such plan.

  • Incentive Compensation Plan In addition to receipt of Basic Compensation under the Employment Agreement, you shall participate in the Incentive Compensation Plan for Executive Officers of the Company (the “Compensation Plan”) and shall be eligible to receive incentive compensation under the Compensation Plan as may be awarded in accordance with its terms.

  • Incentive Bonus Plan Employee shall be eligible for a bonus opportunity of up to 65% of his annual base salary in accordance with the Company’s Incentive Bonus Plan as modified from time to time, payable in cash and/or equity of the Company (at the Company’s discretion). The bonus payment and the Company’s targeted performance shall be determined and approved by the Board or the compensation committee thereof.

  • Long-Term Incentive Plans During the Employment Period, the Executive shall be eligible to participate in any long term incentive compensation plan maintained by the Company on the terms established from time to time by the Board or the Compensation Committee of the Board, as applicable.

  • Long Term Incentive Plan The Executive shall be entitled to participate in the Company’s long-term incentive plan in accordance with its terms that may be in effect from time to time and subject to such other terms as the Board, in its sole discretion, may approve.

  • Equity Awards You will be eligible to receive awards of stock options or other equity awards pursuant to any plans or arrangements the Company may have in effect from time to time. The Board or Committee, as applicable, will determine in its sole discretion whether you will be granted any such equity awards and the terms of any such award in accordance with the terms of any applicable plan or arrangement that may be in effect from time to time.

  • Incentive Awards a) The Executive shall participate in the Company's annual incentive plan for senior-level executives as in effect from time to time, subject to the performance standards set by the Compensation Committee. Payment of any annual incentive award shall be made at the same time that such awards are paid to other senior-level executives of the Company. The Executive's annual incentive award target shall be set by the Compensation Committee. b) The Executive shall be eligible to receive grants under the Company's long-term incentive plans as in effect from time to time; provided, however, that the size, type and other terms and conditions of any such grant to the Executive shall be determined by the Compensation Committee.

  • Equity Incentive Compensation Upon the Closing, each incentive award in respect of the common stock of Seller Parent (a “Seller Parent Equity Award”) held by a Transferred Employee shall become vested or eligible to vest (subject to the satisfaction of any applicable performance goals) in a prorated amount, determined based on the number of days in the applicable vesting period elapsed as of the Closing Date. Effective as of the Closing, Purchaser or its Affiliates shall grant to each Transferred Employee an equity- or cash-based incentive award (a “Make-Whole Award”) with a grant date fair value that is no less favorable than the value of the portion of the Seller Parent Equity Awards forfeited by the Transferred Employee in connection with the Closing (which forfeited amount shall be disclosed to Purchaser Parent no later than five (5) Business Days prior to the Closing), which Make-Whole Award shall have terms and conditions that are no less favorable than the terms and conditions (including vesting schedule and accelerated vesting terms) that were applicable to the corresponding Seller Parent Equity Award. In the event that the post-Closing transfer of a Delayed Transfer Employee results in a larger portion of the Seller Parent Equity Awards held by such Delayed Transfer Employee becoming vested upon such Delayed Transfer Employee’s transfer of employment than if the employment of such Delayed Transfer Employee had transferred upon the Closing, then the incremental cost of such additional vesting (which cost shall be measured based on the taxable income the Delayed Transfer Employee either realized or would have realized had such awards been settled or exercised upon such Delayed Transfer Employee’s transfer of employment to Purchaser or its Subsidiaries) shall be considered Purchaser Assumed Employee Liabilities.

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