Employee Incentive Plans. Not (and shall procure that each member of the Group shall not) make any payment in cash under any employee incentive plan unless approved in writing by the COFACE Agent.
Employee Incentive Plans. 8.1 The Parties agree that Schedule 2 shall apply.
Employee Incentive Plans. Employee will be entitled to participate in such other equity, bonus and incentive plans as are generally made available to Frankly’s other employees, subject to Frankly Inc. Board approval.
Employee Incentive Plans. (a) Subject to paragraph (b) below, not (and shall procure that each member of the Group shall not) make any payment in cash under any employee incentive plan.
Employee Incentive Plans. Each Plan Award granted by the Company under the Company’s employee incentive plan was granted (i) in accordance with the terms of the Company’s employee incentive plan and (ii) with an exercise price, if applicable, at least equal to the fair market value of the Common Stock on the date such Plan Award would be considered granted under GAAP and applicable law. No Plan Award granted under the Company’s employee incentive plan has been backdated. The Company has not knowingly granted, and there is no and has been no Company policy or practice to knowingly grant, Plan Awards prior to, or otherwise knowingly coordinate the grant of Plan Awards with, the release or other public announcement of material information regarding the Company or its Subsidiaries or their financial results or prospects.
Employee Incentive Plans. Employee will be entitled to participate in such other equity, bonus and incentive plans as are generally made available to the Company’s other executives, subject to the approval by the Board of Directors.
Employee Incentive Plans. The Company covenants and agrees that (i) at no time after the date hereof shall the total number of shares of Common Stock issuable or issued after the date hereof on a cumulative basis without duplication and net of any cancelled or terminated options, under all employee, consultant, officer or director incentive arrangements or plans in existence as of the date hereof or as may hereafter be adopted by the board of directors of the Company or any committee thereof exceed in the aggregate 15% of the fully diluted shares of Common Stock then outstanding (excluding the Contingent Warrants); (ii) subject at all times to the limitation specified in clause (i), the aggregate number of shares of Common Stock issued or issuable pursuant to new grants or awards under all employee incentive plans in any of Company’s 2003, 2004 or 2005 Fiscal Years shall not exceed 4% of the fully diluted shares of Common Stock then outstanding (calculated without regard to any repurchases of such shares pursuant to any plan or cancellation or termination of options); provided that if the number of shares of Common Stock issued or issuable under new grants or awards in any of such Fiscal Years is less than the maximum allowed in such Fiscal Year (including any carryover amounts available in such Fiscal Year by virtue of this proviso), such unused amount shall be carried over and added to the maximum number of shares that would otherwise be allowable under clause (ii) for the following Fiscal Year; and (iii) all awards and grants after the date hereof (a) that do not provide for annual vesting over a period of at least 4 years with no vesting prior to the end of any year of the vesting period and no more than 25% vesting at the end of each year of the vesting period (except at maturity) shall require approval of the Board of Directors of the Company and (b) shall provide for “double-trigger” acceleration upon a change of control consistent with the provisions of Company’s existing employee incentive plans. The covenants set forth in this Section 3(c) are solely for the benefit of, and may be enforced, modified or waived only by, TCP and its affiliates.
Employee Incentive Plans. The Shareholders acknowledge and agree that:
Employee Incentive Plans. To align the interests of employees with those of stockholders, Xxxxxxx Xxxxx sponsors several employee compensation plans that provide eligible employees with stock or options to purchase shares. The total compensation cost recog- nized in earnings for stock-based compensation plans for 1997, 1996, and 1995 was $318, $269, and $131, respectively. Xxxxxxx Xxxxx also sponsors deferred cash compensation plans for eligible employees. - ------------------------------------------------------------------------------- LONG-TERM INCENTIVE COMPENSATION PLANS ("LTIC PLANS") AND EQUITY CAPITAL ACCUMULATION PLAN ("ECAP") LTIC Plans and ECAP provide for grants of equity and equity-related instru- ments to certain key employees. LTIC Plans provide for the issuance of Restricted Shares, Restricted Units, and Nonqualified Stock Options, as well as Incentive Stock Options, Performance Shares, Performance Units, Stock Appreciation Rights, and other securities of Xxxxxxx Xxxxx. ECAP provides for the issuance of Restricted Shares, as well as Performance Shares. As of Decem- ber 26, 1997, no instruments other than Restricted Shares, Restricted Units, and Nonqualified Stock Options had been granted. - ------------------------------------------------------------------------------- Restricted Shares and Units Restricted Shares are shares of ML & Co. common stock carrying voting and div- idend rights. A Restricted Unit is deemed equivalent in fair market value to one share of common stock, is payable in cash, and receives cash payments equivalent to dividends. Under these plans, such shares are restricted from sale, transfer, or assignment until the end of the restricted period, and such shares and units are subject to forfeiture during the vesting period for grants under LTIC Plans or the restricted period for grants under ECAP. The activity for Restricted Shares and Units under these plans during 1997 and 1996 follows: - ------------------------------------------------------------------------------- LTIC PLANS ECAP ----------------------- ----------- RESTRICTED RESTRICTED RESTRICTED SHARES UNITS SHARES ----------- ---------- ----------- Authorized for issuance at: December 26, 1997 200,000,000 N/A 52,400,000 December 27, 1996 200,000,000 N/A 52,400,000 - -------------------------------------------------------------------------------- December 26, 1997 44,703,329 N/A 2,935,408 December 27, 1996 61,891,210 N/A 2,698,830 - --------------------------- Outstanding, end of 1995 ------...
Employee Incentive Plans
