Common use of Amendment to Employment Agreement Clause in Contracts

Amendment to Employment Agreement. The Employment Agreement is amended effective as of the Effective Date as follows: (a) Section 4.4(a)(ii) is amended by inserting the phrase “under the Target Incentive Payment Plan” immediately after the first place the phrase “Target Incentive Payment” appears. (b) Section 4.5(a)(ii) is amended and restated in its entirety to read as follows: (ii) The Executive shall be entitled to receive an additional lump sum payment no later than March 15 of the calendar year following the calendar year in which the Termination Date occurs in an amount equal to $1,250,000.” (c) Section 4.6(a) is amended by inserting the phrase “under the Target Incentive Payment Plan” immediately after the first place the phrase “Target Incentive Payment” appears.

Appears in 3 contracts

Samples: Employment Agreement (American Capital, LTD), Employment Agreement (American Capital, LTD), Employment Agreement (American Capital, LTD)

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Amendment to Employment Agreement. The Employment Agreement is amended effective as of the Effective Date as follows: (a) Section 4.4(a)(ii) is amended by inserting the phrase “under the Target Incentive Payment Plan” immediately after the first place the phrase “Target Incentive Payment” appears. (b) Section 4.5(a)(ii) is amended and restated in its entirety to read as follows: (ii) The Executive shall be entitled to receive an additional lump sum payment no later than March 15 of the calendar year following the calendar year in which the Termination Date occurs in an amount equal to $1,250,0001,000,000.” (c) Section 4.6(a) is amended by inserting the phrase “under the Target Incentive Payment Plan” immediately after the first place the phrase “Target Incentive Payment” appears.

Appears in 2 contracts

Samples: Employment Agreement (American Capital, LTD), Employment Agreement (American Capital, LTD)

Amendment to Employment Agreement. The Employment Agreement is amended effective as of the Effective Date as follows: (a) Section 4.4(a)(ii) is amended by inserting the phrase “under the Target Incentive Payment Plan” immediately after the first place the phrase “Target Incentive Payment” appears. (b) Section 4.5(a)(ii) is amended and restated in its entirety to read as follows: (ii) The Executive shall be entitled to receive an additional lump sum payment no later than March 15 of the calendar year following the calendar year in which the Termination Date occurs in an amount equal to $1,250,000300,000.” (c) Section 4.6(a) is amended by inserting the phrase “under the Target Incentive Payment Plan” immediately after the first place the phrase “Target Incentive Payment” appears.

Appears in 1 contract

Samples: Employment Agreement (American Capital, LTD)

Amendment to Employment Agreement. The Employment Agreement is amended effective as of the Effective Date as follows: (a) Section 4.4(a)(ii) is amended by inserting the phrase “under the Target Incentive Payment Plan” immediately after the first place the phrase “Target Incentive Payment” appears. (b) Section 4.5(a)(ii) is amended and restated in its entirety to read as follows: (ii) The Executive shall be entitled to receive an additional lump sum payment no later than March 15 of the calendar year following the calendar year in which the Termination Date occurs in an amount equal to $1,250,0003,000,000.” (c) Section 4.6(a) is amended by inserting the phrase “under the Target Incentive Payment Plan” immediately after the first place the phrase “Target Incentive Payment” appears.

Appears in 1 contract

Samples: Employment Agreement (American Capital, LTD)

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Amendment to Employment Agreement. The Employment Agreement is amended effective as of the Effective Date as follows: (a) Section 4.4(a)(ii) is amended by inserting the phrase “under the Target Incentive Payment Plan” immediately after the first place the phrase “Target Incentive Payment” appears. (b) Section 4.5(a)(ii) is amended and restated in its entirety to read as follows: (ii) The Executive shall be entitled to receive an additional lump sum payment no later than March 15 of the calendar year following the calendar year in which the Termination Date occurs in an amount equal to $1,250,0001,500,000.” (c) Section 4.6(a) is amended by inserting the phrase “under the Target Incentive Payment Plan” immediately after the first place the phrase “Target Incentive Payment” appears.

Appears in 1 contract

Samples: Employment Agreement (American Capital, LTD)

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