Benefits and Incentive Compensation Sample Clauses

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: Company Performance Company Department Individual Total 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
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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 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.
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.
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. 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: Company Performance Company Department Individual Total 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. (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.
Sample 1
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Related to Benefits and Incentive Compensation

  • Bonuses and Incentive Compensation During the Employment Term, the Executive shall have opportunities for bonuses and shall have opportunities for incentive compensation comparable to those provided to other senior executives of the Company and shall be eligible to participate in all bonus and incentive compensation plans made available by the Company, from time to time, for its senior executives.

  • 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 For clarification, it is understood by all parties that other than as specified herein, the Company is not obligated to award any future grants of stock options or other form of equity compensation to Executive during Executive's employment with the Company.

  • 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.

  • Base Salary and Incentive Compensation The Company shall pay to Executive (i) his Base Salary (as in effect as of the date of his termination) and (ii) Incentive Compensation (in an aggregate amount equal to the applicable portion of the cash Incentive Compensation received by the Executive for the most recent fiscal year prior to his termination) as follows: Years of Base Payout Service Salary Incentive Compensation Period Less than one 3 months 25% of the Short Term Incentive Plan award for the most recent full fiscal year prior to termination 3 months One but less than two 6 months 50% of the Short Term Incentive Plan award for the most recent full fiscal year prior to termination 6 months Two but less than three 9 months 75% of the Short Term Incentive Plan award for the most recent full fiscal year prior to termination 9 months Three or More 12 months 100% of the Short Term Incentive Plan award for the most recent full fiscal year prior to termination 12 months To the extent permitted under Code Section 409A, the sum of applicable Base Salary and Incentive Compensation shall be divided into equal monthly payments and paid to the Executive over the applicable Payout Period shown in the table above, depending on the Executive’s years of service at the time of Termination.

  • Annual Incentive Compensation (a) The Executive shall be eligible to receive annual bonus compensation, if any, as may be determined by, and based on performance measures established by, the Board of Directors upon the recommendation of the Compensation Committee of the Board of Directors (the “Committee”) consistent with the Employer’s strategic planning process and in consultation with the Executive, pursuant to any incentive compensation program as may be adopted from time to time by the Board of Directors, based on recommendations by the Committee (an “Annual Bonus”).

  • 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.

  • Cash 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 initial target annual cash incentive compensation shall be 40 percent of the Executive’s Base Salary. Except as otherwise provided herein, to earn cash incentive compensation, the Executive must be employed by the Company on the day such cash incentive compensation is paid.

  • Incentive Compensation Plans The occurrence of any of the following: (i) a material reduction by the Corporation in the Executive’s (A) annual incentive compensation target or maximum opportunity, or (B) long-term incentive compensation target or maximum opportunity (measured based on grant date fair value of any equity-based awards), in each case, as in effect immediately prior to the Change in Control, or (ii) a change in the performance conditions, vesting, or other material terms and conditions applicable to annual and/or long-term incentive compensation awards granted to Executive after the Change in Control which would have the effect of materially reducing the Executive’s aggregate potential incentive compensation from the level in effect immediately prior to the Change in Control; or

  • Equity Incentive Compensation During the term of employment hereunder the Executive shall be eligible to participate, in an appropriate manner relative to other senior executives of the Parent and its subsidiaries, in any equity-based incentive compensation plan or program approved by the Board from time to time, including (but not by way of limitation) any plan providing for the granting of (a) options to purchase stock of the Parent, (b) restricted stock of the Parent or (c) similar equity-based units or interests.

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