Benefits and Incentive Compensation Sample Clauses

Benefits and Incentive Compensation. (a) Employee shall be entitled to receive all benefits (such as medical, dental and disability insurance, participation in the Companies' non- contributory 401(k) plan, paid vacation, and retirement plan coverage) as are generally available from time to time to similarly situated senior executives of the Companies and the portion of such benefits paid by Employee shall be consistent with the portion of such benefits paid by such similarly situated employees of the Companies. The Companies shall continue to provide life insurance coverage for the benefit of the Employee or the Employee's family, including a term life insurance policy in the amount of $5,000,000 and key man life insurance policies in the amount of $2,000,000 and $1,000,000. The Companies will reimburse Employee for all reasonable business expenses incurred in fulfilling his responsibilities upon submission of adequate documentation for such expenses and subject to expense policies of the Companies. Employee shall continue to receive a car allowance in conformity with past practice. (b) Upon execution of this Agreement, Employee shall be granted a five-year option to purchase 500,000 shares of Ashton's common stock at an exercise price of $10.50 per share. The option package described above will vest in accordance with the following schedule: 20% upon execution of this Agreement 20% 1st anniversary of this Agreement 60% 2nd anniversary of this Agreement It is understood that the shares underlying these options will not initially be registered under the Securities Act of 1933, as amended (the "Act"). However, Ashton agrees that it will endeavor to register the underlying shares at such time that other shares underlying management's or consultants' options are registered pursuant to Form S-8 or any other appropriate registration statement.
Sample 1
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Benefits and Incentive Compensation. Key Manager shall be eligible to participate in bonus and incentive compensation plans, policies, and arrangements, retirement plans, savings plans, deferred compensation plans, and health and welfare benefit plans, in each case as they may be provided by the Company, provided, that the Company is under no obligation to provide any specific level of discretionary awards or benefits. This Employment Agreement does not modify the terms of any plans or other agreements in place to provide the Key Manager such other benefits, and the terms of those plans or agreements shall be controlling over this Employment Agreement in the event of any conflict. The target annual bonus for Key Manager shall be as set forth below: 125% of Target 37.5 % 18.75 % 18.75 % 75 % 100% of Target 25 % 12.5 % 12.5 % 50 % 85% of Target 12.5 % 6.25 % 6.25 % 25 % <85% of Target 0 % 0 % 0 % 0 % Straight line interpolation between each percentage except that there is no interpolation for a Company bonus if <85% of Target. The Performance Targets will be established annually between the Company and Key Manager pursuant to the Company’s Performance Development System.
Sample 1
Benefits and Incentive Compensation. Executive shall be eligible to participate in bonus and incentive compensation plans, policies, and arrangements, retirement plans, savings plans, deferred compensation plans, and health and welfare benefit plans, in each case as they may be provided by the Company, provided, that the Company is under no obligation to provide any specific level of discretionary awards or benefits. The target annual bonus for Executive shall be the percentage for the applicable grade level of the Annual Base Salary in effect for the Executive at the time of termination.
Sample 1
Benefits and Incentive Compensation. Notwithstanding anything to the contrary in this Agreement, no Severance Benefit or Incentive Compensation shall be payable if the Executive violates the terms and covenants of section 6 of this Agreement. Moreover, Executive agrees that if he violates section 6 of this Agreement he shall repay forthwith the Company any amount of the Severance Benefit or Incentive Compensation previously paid pursuant to this Paragraph 5(b)(i). In addition, should the Executive's employment with the Company terminate due to a Termination for Change in Control, any stock options Executive shall have received which are unvested at the time of such termination shall immediately accelerate and become fully vested and the exercise period for such options shall be extended to permit the Executive to exercise such options during the two year period immediately following the Executive's termination.
Sample 1
Benefits and Incentive Compensation. (a) Employee shall be entitled to receive all benefits (such as medical, dental, disability and life insurance, paid vacation, and retirement plan coverage) as are generally available from time to time to senior executives of the Company. Employee shall be eligible to participate in any bonus, incentive compensation, stock option, performance unit or similar plans or programs as the Company may maintain for compensating senior executives at such level of participation as the Company's Board of Directors may determine in its reasonable discretion based upon Employees's responsibilities and performance. (b) Promptly after approval of this Agreement by the Board of Directors of the Company and after the Effective Date of this Agreement, the Compensation Committee will grant Employee options to purchase 450,000 shares of common stock of the Company at the then current market price per share on the date of grant, which options will vest over 4 years in equal annual installments (25% per year), with the first installment vesting on the date that Employee and his family relocate their residence to the Denver area (the "Relocation Date"), or April 28, 1998, whichever occurs later. In addition, the Board will grant to Employee options to purchase 300,000 shares of common stock on similar terms and conditions as the performance vesting options granted at or about the same time to other executive officers.
Sample 1
Benefits and Incentive Compensation. Key Manager shall be eligible to participate in bonus and incentive compensation plans, policies, and arrangements, retirement plans, savings plans, deferred compensation plans, and health and welfare benefit plans, in each case as they may be provided by the Company, provided, that the Company is under no obligation to provide any specific level of discretionary awards or benefits. This Employment Agreement does not modify the terms of any plans or other agreements in place to provide the Key Manager such other benefits, and the terms of those plans or agreements shall be controlling over this Employment Agreement in the event of any conflict. The target annual bonus for Key Manager shall be as set forth below: 125% of Target 45 % 22.5 % 22.5 % 90 % 100% of Target 30 % 15 % 15 % 60 % 85% of Target 20 % 10 % 10 % 40 % <85% of Target 0 % 0 % 0 % 0 % Straight line interpolation between each percentage except that there is no interpolation for a Company bonus if <85% of Target. The Company and Key Manager agree to evaluate other bonus programs within 45 days of the Effective Date which pertain to additional value for the Company through trading, arbitrage opportunities or other trade/sales deals. As compared to any new program developed under this provision, the program referenced above shall be a minimum level. The Performance Targets will be established annually between the Company and Key Manager pursuant to the Company’s Performance Development System.
Sample 1
Benefits and Incentive Compensation. (a) Employee shall be entitled to receive all benefits (such as medical, dental, disability and life insurance, participation in the Company's non-contributory 401(k) plan, paid vacation, and retirement plan coverage) as are generally available from time to time to similarly situated employees of the Company and the portion of such benefits paid by Employee shall be consistent with the portion of such benefits paid by such similarly situated employees of the Company. The Company will also pay to Employee a lump sum of $68,000 for expenses incurred in connection with relocating to Philadelphia, Pennsylvania. (b) Upon execution of this Agreement, Employee shall be granted (i) a five-year option to purchase 150,000 shares of the Company's common stock at the market price on the effective date of this Agreement, (ii) a five-year warrant to purchase 250,000 shares of common stock in the Company's subsidiary, Universal Trading Technologies Corporation ("UTTC"), at a price of $1.00 per share, (iii) a five-year option to purchase 50,000 shares in the Company's subsidiary, Xxxxx Advisors, Inc. ("GA"), at a price of $2.00 per share, (iv) a five-year option to purchase 100,000 shares of the Company's subsidiary, Electronic Market Center, Inc. ("eMC"), at a price to be determined, and (v) a five-year option to purchase 100,000 shares of the Company's subsidiary, ATG International, Inc. ("International"), at a price to be determined. The option package described above will vest ratably over the term of this Agreement. It is understood that the shares underlying these options and warrants will not initially be registered under the Securities Act of 1933, as amended (the "Act"). However, the Company agrees that in the case of the shares underlying the option to purchase the Company's common stock, the Company will endeavor to register the underlying shares at such time that other shares underlying management or consultants' options are registered pursuant to Form S-8 or any other appropriate registration statement. In the case of the UTTC warrant and GA, eMC and International options described above, it is understood and agreed that, in the event that UTTC, GA, eMC or International registers shares under the Act, then the Company will endeavor to include the share s underlying the warrants or options, as the case may be, in such registration statement, subject to customary underwriters' cutbacks and restrictions.
Sample 1
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Related to Benefits and Incentive Compensation

  • 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.

  • Cash and Incentive Compensation (a) All payments referenced in this Agreement are subject to applicable tax withholdings and authorized or required deductions.

  • Recovery of Bonus and Incentive Compensation Any bonus and incentive compensation paid to you during a CPP Covered Period is subject to recovery or “clawback” by the Company if the payments were based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria.

  • 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.

  • Salary Benefits and Bonus Compensation 3.1 BASE SALARY. Effective July 1, 2000, as payment for the services to be rendered by the Employee as provided in Section 1 and subject to the terms and conditions of Section 2, the Employer agrees to pay to the Employee a "Base Salary" at the rate of $180,000 per annum, payable in equal bi-weekly installments. The Base Salary for each calendar year (or proration thereof) beginning January 1, 2001 shall be determined by the Board of Directors of Avocent Corporation upon a recommendation of the Compensation Committee of Avocent Corporation (the "Compensation Committee"), which shall authorize an increase in the Employee's Base Salary in an amount which, at a minimum, shall be equal to the cumulative cost-of-living increment on the Base Salary as reported in the "Consumer Price Index, Huntsville, Alabama, All Items," published by the U.S. Department of Labor (using July 1, 2000, as the base date for computation prorated for any partial year). The Employee's Base Salary shall be reviewed annually by the Board of Directors and the Compensation Committee of Avocent Corporation.

  • Equity Incentive Compensation Upon the Closing, each incentive award in respect of the common stock of Seller Parent (a “Seller Parent Equity Award”) held by a Transferred Employee shall become vested or eligible to vest (subject to the satisfaction of any applicable performance goals) in a prorated amount, determined based on the number of days in the applicable vesting period elapsed as of the Closing Date. Effective as of the Closing, Purchaser or its Affiliates shall grant to each Transferred Employee an equity- or cash-based incentive award (a “Make-Whole Award”) with a grant date fair value that is no less favorable than the value of the portion of the Seller Parent Equity Awards forfeited by the Transferred Employee in connection with the Closing (which forfeited amount shall be disclosed to Purchaser Parent no later than five (5) Business Days prior to the Closing), which Make-Whole Award shall have terms and conditions that are no less favorable than the terms and conditions (including vesting schedule and accelerated vesting terms) that were applicable to the corresponding Seller Parent Equity Award. In the event that the post-Closing transfer of a Delayed Transfer Employee results in a larger portion of the Seller Parent Equity Awards held by such Delayed Transfer Employee becoming vested upon such Delayed Transfer Employee’s transfer of employment than if the employment of such Delayed Transfer Employee had transferred upon the Closing, then the incremental cost of such additional vesting (which cost shall be measured based on the taxable income the Delayed Transfer Employee either realized or would have realized had such awards been settled or exercised upon such Delayed Transfer Employee’s transfer of employment to Purchaser or its Subsidiaries) shall be considered Purchaser Assumed Employee Liabilities.

  • 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.

  • Separation Compensation In exchange for your agreement to the general release and waiver of claims and covenant not to sue set forth below and your other promises herein, the Company agrees to provide you with the following:

  • Incentive Compensation During the Term, the Executive shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executive’s target annual incentive compensation shall be thirty-five percent (35%) of his Base Salary. To earn incentive compensation, the Executive must be employed by the Company on the day such incentive compensation is paid.

  • 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.

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