Common use of Equity Based Incentive Compensation Clause in Contracts

Equity Based Incentive Compensation. The Executive shall be entitled to participate in any program established by the Company for its management or key personnel. It is understood and agreed that the Company may amend, suspend, and terminate all such programs from time to time in its discretion. The Company acknowledges that it or the Parent intends to implement an equity-based incentive plan upon completion of the Initial Public Offering, and that Executive will be eligible to participate in and, as determined by the Board, receive equity-based incentives under such plan.