Bonuses and Long Term Incentives. (a) You shall be eligible to participate in the Company’s annual incentive plan (“Bonus”) to the extent that you are eligible in accordance with the terms of such plan. Your current Bonus target is $600,000.
(b) During the Term of Employment, you shall be eligible to receive long term incentive compensation, at the same time and in the same manner as grants are made to comparable executives, and subject to the sole discretion of the Time Inc. Board of Directors, with an annual target value of $700,000 (based on the valuation method used by the Company for its senior executives) through a combination of stock option grants, restricted stock units, performance shares or other equity-based awards, cash-based long-term plans or other components as may be determined by the Time Inc. Board of Directors (collectively, the “Long-Term Incentive Plans”).
Bonuses and Long Term Incentives. (a) You shall be eligible to participate in the Company’s annual incentive plan (“Bonus”) to the extent that you are eligible in accordance with the terms of such plan. Your current Bonus target is $900,000. You will not receive a Bonus payment for plan year 2013.
(b) During the Term of Employment, you shall be eligible to receive long term incentive compensation, at the same time and in the same manner as grants are made to comparable executives, and subject to the sole discretion of the Time Inc. Board of Directors, with an annual target value of $500,000 (based on the valuation method used by the Company for its senior executives) through a combination of stock option grants, restricted stock units, performance shares or other equity-based awards, cash-based long-term plans or other components as may be determined by the Time Inc. Board of Directors (collectively, the “Long-Term Incentive Plans”).
(c) You will receive a sign-on bonus in the amount of $1,400,000, less applicable withholdings and deductions, payable within thirty (30) days of the Effective Date. You covenant and agree that if you resign or are terminated for Cause within two years of the Effective Date, you will repay the Company a pro-rata portion of the net amount of the bonus you received after taxes, based on the bonus vesting equally over the two-year period, by bank check within ten (10) days of the termination of your employment. If your employment terminates pursuant to Sections 5.2, 5.3, 5.4 or 5.5 below, you will have no repayment obligation.
Bonuses and Long Term Incentives. (a) You shall be eligible to participate in the Company’s annual incentive cash bonus plans (“Bonus”) to the extent that you are eligible in accordance with the terms of such plans. Your current Bonus target is $700,000.
(b) So long as your employment with the Company has not been terminated, you shall also be eligible to participate in any stock option or other long-term incentive program, whether now existing or established hereafter, to the extent executives at your level are generally deemed eligible to participate therein (collectively, the “Long-Term Incentive Plans”). It is agreed that your participation in the Long-Term Incentive Plans will be comparable to other Company executives at your level.
Bonuses and Long Term Incentives. (a) For each year during the Term of Employment, you shall be eligible to participate in the Company's annual incentive plan ("AIP") to the extent you are eligible to participate in accordance with the terms of such plan. Your bonus target is 150% of Base Salary earned in the applicable bonus year. Notwithstanding the foregoing, in respect of your 2016 services, your annual bonus with respect to your services performed and base salary payable prior to the Effective Date shall be determined by applying the target bonus percentage specified in the Prior Agreement to such base salary, and with respect to your services performed and base salary payable in 2016 on and after the Effective Date applying the target bonus percentage specified herein to the base salary payable from and after the Effective Date.
(b) Each year, the Company and the Compensation Committee of the Board ("Compensation Committee") will determine, in their sole discretion, whether to grant loxx xxxx xxcentive awards. For each year during the Term of Employment, you shall be eligible to receive long-term incentive awards with an annual long term incentive target value is $3,000,000 (which shall be applied based on the same valuation method used by the Company for awards to its senior executives, as the same may be effect from time to time) at the same time as annual awards are made to other senior executives of the Company. Consistent with generally applicable practices, actual grants will be determined by the Compensation Committee based on this target, subject to adjustment to reflect your performance and that of the Company, including its share price, and such other factors as the Compensation Committee shall deem pertinent. Long term incentive compensation awards (i) in respect of your 2017 long-term incentive award opportunity will be made 50% in performance share units, with the remainder of the grant value in respect of 2017 divided approximately equally between stock options and restricted stock unit awards and subject only to time vesting (the "2017 Time Vested Awards"), and (ii) awards in respect of subsequent years during the Term of Employment shall be made between 50% and 66.7% in performance share units, as determined by the Compensation Committee, with the remainder of the grant value in respect of any such year divided approximately equally between stock options and restricted stock unit awards that are subject only to time vesting. All grants are subject to the approval of t...
Bonuses and Long Term Incentives. (a) You shall be eligible to participate in the Company’s discretionary annual incentive cash bonus plans (“Bonus”) to the extent that you are eligible in accordance with the terms of such plans. Your Bonus target during the Term of Employment shall be not less than $800,000. Any Bonus will be paid at the time specified in the applicable plan or, if not specified therein, between January and March 15 of the year following the fiscal year for which the Bonus is earned.
(b) So long as your employment with the Company has not been terminated, you shall also be eligible to participate in any stock option, restricted stock unit, cash-based long-term incentive plan or other long-term incentive program, whether now existing or established hereafter, to the extent executives at your level are generally deemed eligible to participate therein (collectively, the “Long-Term Incentive Plans”).
(c) In addition, you will be eligible to receive a stay bonus (the “Stay Bonus”) in the gross amount of $150,000 so long as you remain actively employed by the Company as of June 15, 2013. If, prior to receiving the Stay Bonus, you are terminated pursuant to Paragraph 5.2 (death) or Paragraph 5.3 (disability), the Stay Bonus shall be paid to you, or your estate, as applicable, within 90 days of your last day of employment.
Bonuses and Long Term Incentives. (a) You shall be eligible to participate in the Company’s annual incentive cash bonus plans (“Bonus”) to the extent that you are eligible in accordance with the terms of such plans. Your current Bonus target is $515,000.
(b) So long as your employment with the Company has not been terminated, you shall also be eligible to participate in any stock option or other long-term incentive program, whether now existing or established hereafter, to the extent executives at your level are generally deemed eligible to participate therein (collectively, the “Long-Term Incentive Plans”).
(c) In addition, you shall receive two transition bonuses in the gross amount of $150,000 each, payable on or about January 15, 2011 and January 15, 2012, so long as you are actively employed by the Company on each respective payment date.
Bonuses and Long Term Incentives. (a) You shall be eligible to participate in the Company’s annual incentive cash bonus plans (“Bonus”) to the extent that you are eligible in accordance with the terms of such plans. Your current Bonus target is $500,000. Your Bonus for plan year 2012 will be prorated to reflect your date of hire.
(b) So long as your employment with the Company has not been terminated, you shall also be eligible to participate in any stock option, restricted stock or other long-term incentive program, whether now existing or established hereafter, to the extent executives at your level are generally deemed eligible to participate therein (collectively, the “Long-Term Incentive Plans”).
(c) You will be awarded restricted stock units (the “Initial LTI Award”) with a target value of $173,770, which is a pro-rata amount for the year 2012 using a $600,000 target value for such year. The Initial LTI Award will be granted on the first regular granting date (15th of each month) after you have commenced employment and this Agreement has been fully executed. The Initial LTI Award will be reflected in a standard form restricted stock units award agreement entered into between you and TWI.
(d) Long Term Incentive Compensation for 2013. So long as the Term of Employment has not terminated, in 2013 you will be eligible for a long term incentive compensation award based on an estimated value of $600,000 (based on the same valuation method as used by Time Warner for its senior executives). Such award will be delivered through a combination of stock option grants, restricted stock units (“RSUs”), performance shares or other equity-based awards, cash-based long-term plans or other components as may be determined by the Compensation and Human Development Committee of the Board of Directors of TWI (the “Compensation Committee”) from time to time in its sole discretion.
Bonuses and Long Term Incentives
