Bonus and Short-Term Incentive Payments Sample Clauses

Bonus and Short-Term Incentive Payments. (a) New SAIC Short-Term Incentive Plan. Not later than the Effective Time, New SAIC shall, or shall cause another New SAIC Entity to, adopt a plan that will provide annual bonus or short-term cash incentive compensation opportunities for New SAIC Group Employees transferred from the Leidos Group to the New SAIC Group (the “New SAIC Short-Term Incentive Plan”), subject to New SAIC’s right to amend such plan after the Effective Time in accordance with the terms thereof. The New SAIC Short-Term Incentive Plan shall be approved prior to the Effective Time by the sole stockholder of New SAIC, and New SAIC Group Employees shall participate in such New SAIC Short-Term Incentive Plan immediately following the Effective Time; provided, however, that service with Leidos shall be credited for the purposes of determining whether such New SAIC Group Employee had been a participant in the New SAIC Short-Term Incentive Plan during the applicable performance period.
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Bonus and Short-Term Incentive Payments. (a) Not later than the Effective Time, Xxxxxxxx 66 shall, or shall cause another Xxxxxxxx 66 Entity to, adopt a plan that will provide annual bonus or short-term cash incentive compensation opportunities for Xxxxxxxx 66 Group Employees and Delayed Transfer Employees transferred from the COP Group to the Xxxxxxxx 66 Group that are substantially similar to the opportunities provided to such Employees immediately prior to the Effective Time (the “Xxxxxxxx 66 Short-Term Incentive Plan”), subject to Xxxxxxxx 66’s right to amend such plan after the Effective Time in accordance with the terms thereof. The Xxxxxxxx 66 Short-Term Incentive Plan shall be approved prior to the Effective Time by COP, as the sole shareholder of Xxxxxxxx 66 and Xxxxxxxx 66 Group Employees shall participate in such Xxxxxxxx 66 Short-Term Incentive Plan immediately following the Effective Time; provided, however, that service with COP shall be credited for the purposes of determining whether such Xxxxxxxx 66 Group Employee had been a participant in the Xxxxxxxx 66 Short-Term Incentive Plan during the applicable performance period.
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Related to Bonus and Short-Term Incentive Payments

  • Short-Term Incentive Compensation In addition to the foregoing Base Salary, the Executive shall be eligible during the Term to receive cash short-term incentive compensation, determined and payable in the discretion of the Compensation Committee of the Board. At least annually, the Compensation Committee shall consider awarding short-term incentive compensation to the Executive.

  • Short Term Incentive “Short-Term Incentive” shall mean, with respect to any fiscal year of the Company, the specific annual incentive award (if any) approved for Executive by the Board or a designated committee of the Board with respect to such year.

  • Incentive Payments (i) Amount in the Event of a Termination Pursuant to Sections 7(a) or 7(c). In the event of a termination pursuant to Sections 7(a) or 7(c) of this Agreement, Employee shall be offered the opportunity to receive Incentive Payments in a total amount equal to 0.500 times the sum of Employee’s most recent annual base salary and target bonus, payable in equal installments on the same pay schedule in effect at the time of termination over a period of twelve (12) months from the date of termination.

  • Incentive Pay If the Termination Date is any day other than the last day of the plan year under the CIP, the Company shall pay to Executive an amount equal to a prorated portion of the award that would have been payable to Executive under the CIP for such plan year based on actual performance towards objectives, prorated based on the number of days of the plan year occurring through the Termination Date divided by 365. Any individual performance objectives applicable to Executive for the fiscal year shall be deemed to have been met at a level resulting in payout of 50% of the award amount allocated to such individual objectives. The payment shall be paid to Executive at the same time and in the same manner as CIP awards are paid to other executives of the Company pursuant to the CIP, but not later than 2 1/2 months following the end of the fiscal year in which the Termination Date occurs, provided that Executive has satisfied the conditions set forth in Section 12. Any separation pay that may become payable pursuant to this Section 10(c) is intended to be a short-term deferral not subject to the requirements of Section 409A of the Code.

  • Incentive Payment During the period of Executive's employment under this Agreement, the Executive shall be eligible to participate in an incentive compensation program implemented by the Board (the "Annual Incentive Bonus").

  • Short Term Incentive Plan Executive may be eligible to be receive an annual Short Term Incentive Plan bonus subject to the terms of the STIP as determined by the Board of Directors or compensation committee thereof in its sole discretion. The components, target and maximum amounts of any STIP bonus shall be a percentage of Executive's Base Annual Salary as determined by the Board of Directors or compensation committee thereof in its sole discretion. Subject to the foregoing, a portion of the annual STIP bonus may be based upon Employer's financial performance and a portion of the STIP may be based upon achievement of individual performance objectives, all as may be determined by the Board of Directors or compensation committee thereof in its sole discretion. STIP bonuses for each calendar year shall be payable in the following calendar year as determined by the Board or compensation committee thereof, provided that payment, if any, shall be no later than March 15th of the following year. The Company's adoption of a STIP bonus for a year does not require the Company to adopt a STIP bonus for any other year. If the Company adopts a STIP bonus for Company employees for a particular year, Executive shall be eligible to participate in such year subject to the foregoing.

  • Annual Incentive Payment The Executive shall participate in the Company's Management Incentive Plan (or such alternative, successor, or replacement plan or program in which the Company's principal operating executives, other than the Chief Executive Officer, generally participate) and shall have a targeted incentive thereunder of not less than $240,000 per year; provided, however, that the Executive's actual incentive payment for any year shall be measured by the Company's performance against goals established for that year and that such performance may produce an incentive payment ranging from none to 200% of the targeted amount. The Executive's incentive payment for any year will be appropriately pro-rated to reflect a partial year of employment.

  • 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.

  • Bonus Payments In addition to Base Salary, Executive shall be entitled, during the Employment Term, to participate in and receive payments from all bonus and other incentive compensation plans (as currently in effect, as modified from time to time, or as subsequently adopted) of the Company; provided, however, that nothing contained herein shall grant Executive the right to continue in any bonus or other incentive compensation plan following its discontinuance by the Board (except to the extent Executive had earned or otherwise accumulated vested rights therein prior to such discontinuance).

  • 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.

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