Discretionary Award. By acknowledging and accepting this stock option award, the Participant agrees that the granting of this stock option award is completely at the discretion of the Committee or its designee pursuant to the Plan. The stock option award is not an acquired right to the Participant, but an offer from the Company to employees who fulfill specific conditions. As a result, the Participant acknowledges that the grant of the Option does not create any expectation that future options will be granted to the Participant under that Plan, or any other plan, nor does the Participant expect that the benefits accruing under the Plan will be reflected in any severance or indemnity payments that the Company, or an Affiliate, may make to the Participant in the future.
Discretionary Award. Notwithstanding anything herein to the contrary, the Compensation Committee retains the discretion to cause the Company to pay or provide for additional or other compensation for extraordinary performance regardless of the outcome on any performance-based pay contained in this letter agreement provided such extraordinary performance relates to performance which is not based on the performance criteria or goals contained herein.
Discretionary Award. Each year that a faculty member holds an Academic Administrator position recognized as such by the Employer, pursuant to this Agreement, and has at least one (1) full year in the position, the Academic Administrator’s faculty salary may be adjusted by as much as four (4) additional steps to base pay on the faculty salary matrix. This award will be recognized in a dollar for dollar adjustment to the overall salary of the Academic Administrator for the year of award.
Discretionary Award. Awards under the Plan are granted to directors of the Company in the Committee’s sole discretion. The Award described in this Grant Agreement is a one-time benefit and does not create any contractual or other right to receive other Awards under the Plan or other benefits in lieu thereof. Future grants, if any, will be at the sole discretion of the Committee. The Grantee’s participation in the Plan is voluntary.
Discretionary Award. By acknowledging and accepting this stock option award, you agree that the granting of this stock option award is completely at the discretion of the Committee or its designee pursuant to the Plan. The stock option award is not an acquired right to you, but an offer from the Company to employees who fulfill specific conditions. As a result, you do not expect that future options will be granted to you under that Plan, or any other plan, nor do you expect that the benefits accruing under the Plan will be reflected in any severance or indemnity payments that the Company, or an Affiliate, may make to you in the future.
Discretionary Award. In addition to Base Salary, the Employee shall be eligible to receive a quarterly discretionary award based upon the Employee’s and the Company’s performance for the preceding quarter of the Company’s fiscal year. Such discretionary award shall be in the form of Stock Options under the Company’s 2003 Stock Option, Deferred Stock and Restricted Stock Plan (the “Stock Option”).
Discretionary Award. Notwithstanding, and in addition to, any other provision of this paragraph D, the Committee, in the exercise of its sole discretion on the Determination Date (based on a subjective evaluation of the Employee’s individual performance and the Company’s corporate performance in achieving certain specific objectives during 2013 with such evaluation conducted after the end of the year by the Committee, for the Chief Executive Officer and other named executive officers in the Company’s proxy statement, after the Company’s Chief Executive Officer presents his evaluation to the Committee of each such executive officer, which includes a review of each officer’s contributions and performance over the past year, strengths, opportunities for improvement, development plans, and succession potential), may grant the Employee between 0% and 50% of the Employee’s Cash Performance Award Opportunity and between 0% and 50% of the Employee’s Phantom Shares Award Opportunity. The determined Cash Performance Award Opportunity for the Employee will be realized and vest on the applicable Vesting Date. The determined Phantom Shares Award Opportunity will vest as provided Section 3(b) of the Award Agreement, using the Determination Date as the initial Vesting Date.
Discretionary Award. Notwithstanding, and in addition to, any other provision of this paragraph D, the Committee, in the exercise of its sole discretion on the Determination Date (depending on a subjective individual and corporate performance evaluation based on the Grantee’s key responsibilities, specific improvement objectives and leadership competencies and achievement of Company goals, with such conducted after the end of the year by (a) the Committee, if the Grantee is the Company’s Chief Executive Officer or (b) the Company’s Chief Executive Officer, if the Grantee is not the Company’s Chief Executive Officer), may vest the Employee in between 0% and 25% of the Employee’s Cash Performance Award Opportunity and between 0% and 25% of the Employee’s Phantom Shares Award Opportunity. The determined Cash Performance Award Opportunity for the Employee will be realized and vest on the applicable Vesting Date. The determined Performance Shares Award Opportunity will vest as provided Section 3(b) of the Award Agreement, using the Determination Date as the initial Vesting Date.
Discretionary Award. Provided the Executive meets the conditions stated in this Section 3.2, the Executive shall be eligible for an annual discretionary Award (hereinafter referred to as the “Award”) with a target amount of fifty percent (50%) of the Executive’s Base Salary, subject to standard deductions, social security contributions and withholdings, based on the Board’s determination, in good faith, and based upon the Executive’s individual achievement and company performance objectives as set by the Board or the compensation committee thereof, of whether the Executive has met such performance milestones as are established for the Executive by the Board or the compensation committee thereof, in good faith, in consultation with the Executive (hereinafter referred to as the “Performance Milestones”). The Performance Milestones will be based on certain factors including, but not limited to, the Executive’s performance and the Company’s financial performance. The Executive’s Award target will be reviewed annually and may be adjusted by the Board or the compensation committee thereof in its discretion, provided however, that the Award target may only be materially reduced upon Executive’s written consent. The Executive must be employed on the date the Award is awarded to be eligible for the Award, subject to the termination provisions hereof. The Award shall be paid during the calendar year following the performance calendar year.
Discretionary Award. The Board may, in its discretion, authorize an Award to a Participant. The Board may make any such Award without the requirement of any cash payment from the Participant to whom such Award is made, or may require a cash payment from such a Participant in an amount no greater than the aggregate Fair Market Value of the Restricted Stock as of the date of grant in exchange for, or as a condition precedent to, the completion of such Award and the issuance of such shares of Restricted Stock.
