Annual LTIP Awards Sample Clauses

Annual LTIP Awards. The Executive shall be granted long-term incentive plan units (“LTIP Units,” which are units of the Partnership which, following grant and vesting, are convertible on a one-for-one basis into shares of common stock of the Company or, at the option of the Company, an equivalent amount of cash) in respect of each fiscal year during the Employment Period, commencing with the fiscal year ending (A) December 31, 2014, if the Executive has not received from Glimcher RT, Glimcher LP or any of their affiliates an equity-based compensation award from the date hereof through the Effective Date, or (B) December 31, 2015, if the Executive has received from Glimcher RT, Glimcher LP or any of their affiliates an equity-based compensation award from the date hereof through the Effective Date (the “Annual LTIP Award”). Each Annual LTIP Award shall be granted pursuant to the Company’s 2014 Long Term Incentive Plan, as may be amended from time to time (the “Plan”), and the forms of Annual LTIP Awards thereunder shall be no less favorable to the Executive than the annual awards of LTIP Units to other senior executives of the Company. The Annual LTIP Award in respect of any fiscal year shall be granted no later than promptly following the completion of audited financials for such fiscal year (and in any event no later than annual awards of LTIP Units or other equity-based compensation are granted to other senior executives of the Company in respect of such fiscal year), with the number of LTIP Units in each Annual LTIP Award being equal to the “Annual LTIP Award Cash Equivalent,” as defined below, in respect of such fiscal
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Annual LTIP Awards. In addition to any other compensation granted or paid hereunder, with respect to the Company’s 2009 fiscal year and each fiscal year of the Company thereafter, all or part of which is contained in the Employment Term, the Executive shall be entitled to receive a long-term incentive award, with a target value of no less than $1,200,000 (the “Annual LTIP Award”) (and which shall be granted at no less than target if the applicable performance targets have been met). Subject to the Executive’s achievement of certain performance goals to be established by the Committee in consultation with the Executive (which goals shall not be any more difficult to achieve than the goals established for the applicable performance period for the annual bonus in Section 4(b)(ii)), the Annual LTIP Award shall be granted to the Executive within the first 75 days of the year immediately following the end of the applicable fiscal year to which such performance goals relate (the “Performance Year”). Except as may otherwise be provided in Section 10 of this Agreement, (i) any such granted Annual LTIP Award shall vest in three equal annual installments, on each of the first three anniversaries of the Effective Date occurring after the conclusion of the applicable Performance Year for which it was granted, subject to the Executive’s continued employment with the Company through each applicable vesting date and (ii) any vested portion of such Annual LTIP Award shall be delivered to the Executive, 100% in cash, on the third anniversary of the Effective Date occurring after the conclusion of the applicable Performance Year for which it was granted. It is intent of the parties that there shall be no transfer of property (within the meaning of Section 83 of the Code) with respect to the Annual LTIP Award prior to the payment date described in this Section 4. The Board (or any authorized committee thereof) shall have the authority to establish performance metrics pursuant to which such Annual LTIP Awards may be earned, provided that the Board (or such authorized committee) shall establish such targets with respect to the Executive in consultation with him, which targets will likely be based on AV and EBITDA.
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Annual LTIP Awards. To the extent then unvested and unpaid, the Executive’s Initial LTIP Award shall vest on the date of termination but shall be paid at such time as such Initial LTIP Award would otherwise have been paid had the Executive remained employed with the Company.
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Annual LTIP Awards. (i) During each calendar year of the Agreement Term, the Executive shall be granted equity-based awards under the LTIP, as amended from time to time (or a successor plan thereto), having an annual aggregate value (as determined under generally accepted accounting principles consistently applied by the Company to awards to senior executives granted at such time) of $7,500,000, in the following portions: (x) such number of time-vested stock options as have a value equal to the lesser of (A) $6,000,000 and (B) the value of 500,000 stock options, and (y) time-vested restricted stock units having a value of $7,500,000 minus the value of the stock options awarded under clause (x). Each stock option granted pursuant to this subparagraph 3(d)(i) shall have a term of 10 years from its date of grant. The date on which the grants of awards pursuant to this subparagraph 3(d)(i) shall occur and the terms and conditions applicable to such awards shall, except as otherwise expressly provided in this paragraph 3(d), be determined by the Committee in its discretion under the LTIP (or a successor plan thereto), provided that the awards made pursuant to this subparagraph 3(d)(i) shall be made at the same time and, except as otherwise expressly provided in this paragraph 3(d), shall have the same terms as annual LTIP awards granted to other senior executives of the Company (or if not granted to other senior executives, such awards shall be granted to the Executive at least annually, based on the terms applicable under the last such type awards granted to them) and that the first such grant shall be made not later than December 31, 2008. (ii) Any provision of subparagraph 3(d)(i) to the contrary notwithstanding, all unvested outstanding awards granted pursuant to subparagraph 3(d)(i) shall fully vest and become non-forfeitable, and all of the unexercisable stock options thereunder shall become exercisable, on December 31, 2012, or upon a termination of the Executive’s employment (A) by the Company without Cause, (B) by the Executive for Good Reason (as such terms are defined in this Agreement) or (C) due to the Executive’s death or Disability, in any such case prior to December 31, 2012 and irrespective of whether a Change in Control has occurred, provided, in any such case, that the Executive has been continuously employed by the Company through such date. In the event of such termination, all vested stock options granted under subparagraph 3(d)(i) shall remain exercisable un...
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Annual LTIP Awards. With respect to each fiscal year of the Company ending during the Employment Period (other than the 2006 fiscal year), Executive shall be eligible to receive an annual long-term incentive award under the LTIP in an amount determined by the Compensation Committee, which award shall vest based on the achievement of performance goals or such other criteria as established by the Compensation Committee in accordance with the terms of the LTIP. For fiscal years of the Company commencing after the Company’s 2006 fiscal year, the target value of Executive’s annual LTIP award shall equal two times Executive’s Base Salary. For the Company’s 2006 fiscal year, Executive shall be granted a number of restricted share units (“2006 Restricted Share Units”) with a Fair Market Value (as defined in the LTIP) on the grant date equal to $1 million. The 2006 Restricted Share Units shall be deemed to be earned and vested on January 31, 2008, subject solely to Executive’s continued employment with the Company through such date, and the number of shares of Common Stock underlying the 2006 Restricted Share Units shall not be subject to increase or decrease based on performance above or below target. Except as expressly provided herein, any annual long-term incentive awards granted pursuant to this Section 2(b)(iii) shall be on similar terms and conditions as are applicable to annual long-term incentive awards granted to similarly situated executives of the Company with respect to the same fiscal year and otherwise shall be in accordance with the terms of the LTIP.
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Related to Annual LTIP Awards

  • Annual Incentive Awards The Executive shall participate in the Company's annual incentive compensation plan with a target annual incentive award opportunity of no less than 40% of Base Salary and a maximum annual incentive award opportunity of 80% of Base Salary. Payment of annual incentive awards shall be made at the same time that other senior-level executives receive their incentive awards.

  • Annual Equity Awards Following the first anniversary of the Effective Date, Executive will be granted annual equity awards in an amount determined by the Board. Such awards may be in the form of options, restricted stock units, performance shares, or any other form as approved by the Board.

  • 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.

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

  • Annual Bonus Compensation Executive shall be eligible to receive a bonus each Contract Year (“Annual Bonus”) as the Compensation Committee of the Board of Directors shall determine. Executive’s Annual Bonus shall be determined in accordance with the Company’s executive compensation policies as in effect from time to time during the Term and shall be based, in part, on his achieving his individual performance goals for the year and, in part, on the Company’s achieving its performance goals for the year.

  • Annual Incentive Bonus The Company shall, in addition to Executive’s Base Salary, pay Executive an Annual Incentive Bonus, which shall be payable within 120 days of the end of each fiscal year in accordance with the formula set forth on Exhibit A, attached hereto and made a part hereof.

  • Annual Incentive Plan Executive shall be entitled to participate fully in the Company's 1996 Management Incentive Compensation Plan, as amended (the "MICP"), and as may be further amended, modified, or replaced, from time to time, in accordance with the terms and conditions set forth herein and therein.

  • Incentive Bonuses After the Company attains profitability, the Employee shall be eligible to be considered for an annual incentive bonus. Such bonus (if any) shall be awarded based on objective or subjective criteria established in advance by the Board or its Compensation Committee. The determinations of the Board or its Compensation Committee with respect to such bonus shall be final and binding. Except as expressly provided in this Agreement, the Employee shall not be entitled to an incentive bonus if he is not employed by the Company on the date when such bonus is payable.

  • Annual Incentive Compensation Executive shall be eligible to receive an annual bonus (“Annual Bonus”) with respect to each fiscal year ending during the Employment Period. The Annual Bonus shall be determined under the 2006 Omnibus Incentive Plan (the “Omnibus Plan”) or such other annual incentive plan maintained by the Company for similarly situated employees that the Company designates, in its sole discretion (any such plan, the “Bonus Plan”), in accordance with the terms of such plan as in effect from time to time. For each such fiscal year, Executive shall be eligible to earn a target Annual Bonus equal to seventy percent (70%) of Executive’s Base Salary for such fiscal year, if the Company achieves the target performance goals established by the Board for such fiscal year in accordance with the terms of the Bonus Plan. If the Company does not achieve the threshold performance goals established by the Board for a fiscal year, Executive shall not be entitled to receive an Annual Bonus for such fiscal year. If the Company exceeds the target performance goals established by the Board for a fiscal year, Executive may be entitled to earn an additional Annual Bonus for such year in accordance with the terms of the applicable Bonus Plan. The Annual Bonus for each year shall be payable at the same time as bonuses are paid to other senior executives of the Company in accordance with the terms of the applicable Bonus Plan, but in no event later than two and a half (21/2) months following the end of the applicable fiscal year in which such Annual Bonus was earned. Executive shall be entitled to receive any Annual Bonus that becomes payable in a lump-sum cash payment, or, at his election, (A) up to fifty percent (50%) of the Annual Bonus in the form of a grant of restricted stock units of Common Stock (as defined below) or (B) in any form that the Board generally makes available to the Company’s executive management team, provided that any such election is made by Executive in compliance with Section 409A of the Code and the regulations promulgated thereunder.

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