2023 Long-Term Incentive Compensation Sample Clauses

2023 Long-Term Incentive Compensation. The following summarizes the material terms of the long-term incentive compensation (“LTI”) in the form of RSUs and PSUs that are to be granted under Section 3(b)(ii) of the Agreement in 2023. The metrics and terms for LTI to be granted in subsequent years will be determined by the Compensation Committee, in good faith, in consultation with the CEO.
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2023 Long-Term Incentive Compensation. With respect to the Executive’s 2023 long-term incentive compensation, the Executive shall be entitled to receive; (i) cash-based awards under the Company’s 2007 Long-Term Incentive Plan, as amended, or an equivalent successor plan (the “LTIP,”), with a target of 100% of the Executive’s Base Salary (the “2023 Cash Award”); and/or (ii) equity awards under the Stock Plan in an amount to be determined by the Compensation Committee in March of 2023 in the form of time-vested restricted stock units (“March 0000 XXXx”) and performance share units (the “March 2023 PSUs”). The division of the 2023 long-term incentive compensation awards between Cash Awards, March 2023 RSUs and March 2023 PSUs shall be determined by the Compensation Committee in its sole discretion, but shall be consistent with the percentages and performance targets assigned to awards granted in the same performance cycle to similarly situated senior executives of the Company. All March 0000 XXXx will be subject to three-year graded vesting as described in (c) above. All March 2023 PSUs will be subject to three-year cliff vesting as described in (c) above. The Cash Award shall be subject to the terms of the LTIP, and an award agreement executed by the Executive and the Company and the March 0000 XXXx and the March 2023 PSUs shall be subject to the terms of the Stock Plan and award agreements to be executed by the Executive and the Company. The award agreements in respect of the 2023 Cash Award, March 0000 XXXx and March 2023 PSUs shall be in the same form applicable to similarly situated senior executives of the Company, and the award agreements in respect of the March 0000 XXXx and March 2023 PSUs shall provide that units shall be settled as soon as practicable following the applicable vesting date.
Sample 1
2023 Long-Term Incentive Compensation. With respect to the Executive’s 2023 long-term incentive compensation, the Executive shall be awarded equity awards under the Stock Plan in the amount of $2,600,000 in March of 2023 in the form of time-vested and performance-vested restricted stock units (the “March 2023 RSUs”). The percentages of the March 2023 RSUs subject to time-based and performance-based vesting shall be determined by the Compensation Committee in its sole discretion, but shall be consistent with the percentages assigned to awards granted in the same performance cycle to similarly-situated executives of the Company. The March 2023 RSUs shall be subject to the terms of the Stock Plan and award agreements to be executed by the Executive and the Company. For the avoidance of doubt, the Executive shall not be eligible for a cash-based award under the LTIP for 2023.
Sample 1

Related to 2023 Long-Term Incentive Compensation

  • 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.

  • Long-term Incentive Compensation Programs During the Employment Period, the Executive shall participate in all long-term incentive compensation programs (including, without limitation, programs providing for the grant of stock options and other equity-based awards) for key executives at a level that is commensurate with the Executive's participation in such plans immediately prior to the Effective Date, or, if more favorable to the Executive, at the level made available to the Executive or other similarly situated officers at any time thereafter.

  • Short-Term Incentive Compensation In addition to the foregoing Base Salary, the Executive shall be eligible during the Term to receive cash short-term incentive compensation, determined and payable in the discretion of the Compensation Committee of the Board. At least annually, the Compensation Committee shall consider awarding short-term incentive compensation to the Executive.

  • 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.

  • 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.

  • Incentive Compensation Plans The occurrence of any of the following: (i) a material reduction by the Corporation in the Executive’s (A) annual incentive compensation target or maximum opportunity, or (B) long-term incentive compensation target or maximum opportunity (measured based on grant date fair value of any equity-based awards), in each case, as in effect immediately prior to the Change in Control, or (ii) a change in the performance conditions, vesting, or other material terms and conditions applicable to annual and/or long-term incentive compensation awards granted to Executive after the Change in Control which would have the effect of materially reducing the Executive’s aggregate potential incentive compensation from the level in effect immediately prior to the Change in Control; or

  • Bonus and Incentive Compensation Executive shall be entitled to equitable participation in incentive compensation and bonuses in any plan or arrangement of the Bank or the Company in which Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

  • Annual Incentive Compensation (a) The Executive shall be eligible to receive annual bonus compensation, if any, as may be determined by, and based on performance measures established by, the Board of Directors upon the recommendation of the Compensation Committee of the Board of Directors (the “Committee”) consistent with the Employer’s strategic planning process and in consultation with the Executive, pursuant to any incentive compensation program as may be adopted from time to time by the Board of Directors, based on recommendations by the Committee (an “Annual Bonus”).

  • Long-Term Incentive The Company shall provide Employee an opportunity to participate in the Company’s applicable long term incentive plan as it may or may not exist from time to time.

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