Incentive Compensation Plan. In addition to receipt of Basic Compensation under the Employment Agreement, you shall participate in the Incentive Compensation Plan for Executive Officers of the Company (the “Compensation Plan”) and shall be eligible to receive incentive compensation under the Compensation Plan as may be awarded in accordance with its terms.
Incentive Compensation Plan. The Executive shall be eligible to participate in the Company’s Executive Incentive Compensation Plan, in accordance with the terms of such plan as in effect.
Incentive Compensation Plan. Manager shall continue to participate in the First Mid-Illinois Bancshares, Inc. Incentive Compensation Plan in accordance with the terms and conditions of such Plan. Pursuant to the Plan, Manager shall have an opportunity to receive incentive compensation of up to a maximum of 20% of Manager's annual base salary. The incentive compensation payable for a particular fiscal year will be based upon the attainment of the performance goals in effect under the Plan for such year and will be paid in accordance with the terms of the Plan and at the sole discretion of the Board.
Incentive Compensation Plan. Manager shall participate in the First Mid-Illinois Bancshares, Inc. Incentive Compensation Plan in accordance with the terms and conditions of such Plan. Pursuant to the Plan, Manager shall have an opportunity to receive incentive compensation with a target value of up to a maximum of 35% of Manager's annual base salary. The Chief Executive Office or his designee may review and adjust the maximum percentage from year to year, provided, however, that during the term of manager’s employment, the Company shall not decrease this percentage. The incentive compensation payable for a particular fiscal year will be based upon the attainment of the performance goals in effect under the Plan for such year and will be paid in accordance with the terms of the Plan and at the sole discretion of the Board.
Incentive Compensation Plan. “Incentive Compensation Plan” means the Company’s Incentive Compensation Plan approved and accepted by the Company’s Shareholders in 2004, as well as any successor plan.
Incentive Compensation Plan. Employee will be entitled to participate in the Company’s Annual Corporate Management/Key Employee Bonus Plan, to the extent applicable to Employee’s position.
Incentive Compensation Plan. During the Employment Period, Executive shall be eligible for additional compensation under the Company’s Incentive Compensation Plan established by the Compensation Committee of the Board and approved by the Board. Under the Plan, Executive’s incentive compensation will be tied to performance criteria. The Executive is paid an amount of not less than 80% of the total eligible compensation as base salary and the remaining twenty percent as Incentive Compensation. During the first year of the Employment Period (i.e., through December 31, 2006), Executive’s incentive compensation shall be in an amount not less than twenty percent (20%) of his annual total eligible compensation for such period.
Incentive Compensation Plan. The Executive shall be entitled to participate in an Incentive Compensation Plan in accordance with the terms and conditions of the Company’s Incentive Compensation Plan, as amended from time to time and as outlined in the Company’s Employment Policies and Procedures.
(a) The payment of an Incentive Compensation payment in any year shall not be considered a precedent for any later year and the payment shall not xxxxxx the absolute discretion of the Board in future years to pay or not to pay an Incentive Compensation payment.
(b) The Company retains the right to unilaterally revise the Incentive Compensation Plan at any time, up to and including its complete discontinuance, at its sole discretion.
Incentive Compensation Plan. Incentive Compensation: The Executive will be entitled to share in the Executive Bonus and Commission Plans.
Incentive Compensation Plan. During the Employment Period, Employee shall be eligible to participate in Employer’s incentive compensation plans that provide for the issuance of stock options, restricted stock and other awards to its employees. Employee’s stock based award each year shall be determined by the Compensation Committee based on Employee’s performance and Employer’s performance during the immediately preceding year and shall be consistent with the Compensation Committee’s determination of Employee’s stock based award in prior years. The terms of any award to Employee and Employee’s rights and interest in any such award shall be controlled by this Agreement, the award agreement and the appropriate incentive compensation plan. Employee acknowledges that this Section 3 is sufficient consideration for Employee to enter into this agreement, including the restrictive covenants set forth in Section 8 below.
