Annual Cash Incentive Compensation. Executive shall be eligible to participate in the Company’s cash incentive compensation program (the Penn Virginia Resource GP, LLC Annual Incentive Plan, or any successor plan thereto), which shall enable Executive to earn cash bonus compensation in such amounts, if any, and payable at such times, if any, as determined in the normal course by the Committee. Executive’s target annual bonus shall be 75% of his Base Salary commencing in 2012. The annual target may be reviewed and adjusted from time to time by the Committee in accordance with the Committee’s normal practice. All payments will be made at such times and on such terms as provided in the Annual Incentive Plan.
Appears in 5 contracts
Samples: Employment Agreement (Penn Virginia Resource Partners L P), Employment Agreement (Penn Virginia Resource Partners L P), Employment Agreement (Penn Virginia Resource Partners L P)
Annual Cash Incentive Compensation. Executive shall be eligible to participate in the Company’s cash incentive compensation program (the Penn Virginia Resource GP, LLC Annual Incentive Plan, or any successor plan thereto), which shall enable Executive to earn cash bonus compensation in such amounts, if any, and payable at such times, if any, as determined in the normal course by the Committee. Executive’s target annual bonus shall be 75100% of his Base Salary commencing in 2012. The annual target may be reviewed and adjusted from time to time by the Committee in accordance with the Committee’s normal practice. All payments will be made at such times and on such terms as provided in the Annual Incentive Plan.
Appears in 1 contract
Samples: Employment Agreement (Penn Virginia Resource Partners L P)
