AVIP and LTPCP Clause Samples

AVIP and LTPCP. (a) At any time on or after the first anniversary of the Plan Effective Date, the Covered Employers may each make (or credit) all or any portion of the payments due under the Company's Annual Variable Incentive Plan and the Annual Variable Incentive Plan of Metropolitan Property and Casualty Insurance Company (the "AVIP") and its Long Term Performance Compensation Plan (the "LTPCP") in the form of Common Stock. No Officer who receives Common Stock as payment due under the AVIP or LTPCP at the election of Covered Employers may sell such Common Stock before the second anniversary of the Plan Effective Date. (b) At any time on or after the Plan Effective Date, the Covered Employers may each allow any non-Officer participant in the AVIP or LTPCP to elect to receive payments thereunder in the form of Common Stock (to the extent such payments are not otherwise made or credited in Common Stock) or to have deferred AVIP or LTPCP payments invested in Common Stock (to the extent otherwise deferrable under the terms of the applicable plan). (c) At any time on or after the second anniversary of the Plan Effective Date, the Covered Employers may each allow any Officer participant in the AVIP or LTPCP to elect to receive payments thereunder in the form of Common Stock (to the extent such payments are not otherwise made or credited in Common Stock) or to have deferred AVIP or LTPCP payments invested in Common Stock (to the extent otherwise deferrable under the terms of the applicable plan).