Establishment of Spinco Annual Incentive Plan. Effective on the Distribution Date, Spinco (or its affiliate) will have an annual incentive plan for the 2008 fiscal year that permits the issuance of annual incentive awards on terms and conditions substantially comparable to those under the PNX Annual Incentive Plan, provided that the payment amounts and individual performance criteria shall be established in the discretion of the Spinco Board of Directors or the Compensation Committee thereof.
Appears in 4 contracts
Samples: Employee Matters Agreement, Employee Matters Agreement (Virtus Investment Partners, Inc.), Employee Matters Agreement (Phoenix Companies Inc/De)
Establishment of Spinco Annual Incentive Plan. Effective on as of the Distribution Date, Spinco (or its affiliate) will SpinCo shall have adopted an annual incentive plan for the 2008 fiscal year that permits which shall permit the issuance of annual incentive awards on terms and conditions substantially comparable to those under the PNX Annual RemainCo Short-Term Incentive Plan, Compensation Plan (provided that the payment amounts and individual performance criteria shall be established in the discretion of the Spinco SpinCo Board of Directors or the Compensation Committee thereofSpinCo Committee).
Appears in 4 contracts
Samples: Employee Matters Agreement (Batesville Holdings, Inc.), Employee Matters Agreement (Hill-Rom Holdings, Inc.), Employee Matters Agreement (Batesville Holdings, Inc.)
Establishment of Spinco Annual Incentive Plan. Effective on the Distribution Date, Spinco (or its affiliate) will have an annual incentive plan for the 2008 2009 fiscal year that permits the issuance of annual incentive awards on terms and conditions substantially comparable to those under the PNX Parent Annual Incentive Plan, provided that the payment amounts and individual performance criteria shall be established in the discretion of the Spinco Board of Directors or the Compensation Committee thereof.
Appears in 2 contracts
Samples: Employee Matters Agreement (Michigan Commerce Bancorp LTD), Employee Matters Agreement (Michigan Commerce Bancorp LTD)
