Incentive Compensation; Stock Options Sample Clauses

Incentive Compensation; Stock Options. During the Term, the Employee shall be entitled participate in the Incentive Compensation Plan set forth on Exhibit A. The Employee will also be granted options to purchase 675,000 shares of Common Stock (post a 1:25,000 stock split by the Company) at an exercise price of $2.00 per share.
Sample 1
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Incentive Compensation; Stock Options a. The Executive shall also be entitled to annual incentive cash compensation with a target of no less than fifty percent (50%) of his base salary (described in Section 2, above) in effect as of the last day of the applicable fiscal year if sales objectives and any other annual objectives specified by the Chief Executive Officer are achieved. The nature and extent of such incentive compensation shall be determined by the Chief Executive Officer and shall be paid to the Executive no later than two and one-half (21/2) months after the end of the fiscal year to which such incentive compensation relates.
Sample 1
Incentive Compensation; Stock Options. A. In addition to his base salary and to the extent that Xxxxxx has Net Income (as hereinafter defined) in excess of Two Million Dollars ($2,000,000) in any fiscal year (beginning with fiscal year 2002), during the term of this Agreement, the Executive shall be entitled to receive, within ninety (90) days after the end of such fiscal year if the Executive is still employed with the Company, incentive compensation in an amount equal to six and one-half percent (6.5%) of such excess (the “Incentive Compensation”). For purposes of this Agreement, the term “Net Income” shall refer to Xxxxxx’ annual net income (after interest, depreciation and amortization, but before income taxes and any Incentive Compensation) as reported on the annual consolidated Statement of Operations for Xxxxxx, the Company and any other subsidiaries of Xxxxxx.
Sample 1
Incentive Compensation; Stock Options. (a) Annual Incentive Pay/Bonus. In addition to the Base Salary provided for in Section 3.1, the Executive will participate in the Company's Salary-At-Risk Incentive Compensation Program ("SAR"), with a SAR guideline incentive of 50% of Base Salary. Executive understands that the Company's SAR program is expected to be reviewed and revised and Executive shall only be entitled to participate in the current SAR program if, and to the extent that, the program is maintained by the Company for its management personnel generally. While the SAR program is maintained by the Company, Executive's performance rating under that program shall be determined by the Chairman of the Company's Board. Executive will be entitled to participate in any revised incentive program for officers of the Company, under the terms of that revised program as approved by the Board.
Sample 1
Incentive Compensation; Stock Options. During the Term, the Employee shall be entitled participate in the Incentive Compensation Plan set forth on Exhibit A. The Employee will also be granted options to purchase 300,000 shares of Common Stock (post a contemplated 1:25,000 stock split by the Company) at an exercise price of per share equal to the fair market value of a share of Common Stock as determined in good faith by the Board of Directors. Employee shall be eligible to receive stock option grants and/or other long-term or equity compensation from time to time, in the discretion of the Company’s Board of Directors, consistent with the terms of the Company’s long-term and equity compensation plans, as they may be amended from time to time.
Sample 1
Incentive Compensation; Stock Options. (a) SALARY AND POTENTIAL INCENTIVE COMPENSATION. XXXXXX XXXX'x annual base salary for the Initial or any Renewal Period will be $350,000 unless and until increased as set forth below. All base salary will be payable on the Company's regular payroll dates, less required withholdings. At least annually, XXXXXX XXXX'x annual base salary shall be reviewed by the Board of Directors or a committee thereof, and, may, in their sole discretion, be increased from time to time during the Initial or any Renewal Period in light of merit, cost of living changes, and base compensation levels for similar executive positions in the Company's industry.
Sample 1

Related to Incentive Compensation; Stock Options

  • Company Stock Options At the Effective Time, each Company Stock --------------------- Option shall be deemed to have been assumed by Evergreen, without further action by Evergreen, and shall thereafter be deemed an option to acquire, on the same terms and conditions as were applicable under such Company Stock Option, that number of shares of Surviving Corporation Common Stock that would have been received in respect of such Company Stock Option if it had been exercised immediately prior to the Effective Time (such Company Stock Options assumed by Evergreen, the "Assumed Chancellor Stock Options"); provided, however, that, for -------- ------- each optionholder, (i) the aggregate fair market value of Surviving Corporation Common Stock subject to Assumed Chancellor Stock Options immediately after the Effective Time shall not exceed the aggregate exercise price thereof by more than the excess of the aggregate fair market value of Company Common Stock subject to Company Stock Options immediately before the Effective Time over the aggregate exercise price thereof and (ii) on a share-by-share comparison, the ratio of the exercise price of the Assumed Chancellor Stock Option to the fair market value of the Surviving Corporation Common Stock immediately after the Effective Time is no more favorable to the optionholder than the ratio of the exercise price of the Company Stock Option to the fair market value of the Company Common Stock immediately before the Effective Time; and provided, -------- further, that no fractional shares shall be issued on the exercise of such ------- Assumed Chancellor Stock Option and, in lieu thereof, the holder of such Assumed Chancellor Stock Option shall only be entitled to a cash payment in the amount of such fraction multiplied by the closing price per share of Surviving Corporation Common Stock on the Nasdaq National Market on the business day immediately prior to the date of such exercise.

  • Incentive Stock Options If the Shares are held for more than twelve (12) months after the date of the transfer of the Shares pursuant to the exercise of an ISO and are disposed of more than two (2) years after the Date of Grant, any gain realized on disposition of the Shares will be treated as long term capital gain for federal and California income tax purposes. If Shares purchased under an ISO are disposed of within the applicable one (1) year or two (2) year period, any gain realized on such disposition will be treated as compensation income (taxable at ordinary income rates) to the extent of the excess, if any, of the Fair Market Value of the Shares on the date of exercise over the Exercise Price.

  • Company Stock Option Plans Simultaneously with the execution of this Agreement, the Board of Directors of the Company (or, if appropriate, any committee administering the Company Stock Option Plans) shall adopt such resolutions or take such other actions as are required to effect the transactions contemplated by Section 2.10 in respect of all outstanding Options and thereafter the Board of Directors of the Company (or any such committee) shall adopt any such additional resolutions and take such additional actions as are required in furtherance of the foregoing.

  • Stock Option Awards During the Term, the Executive shall be eligible for awards of options to purchase shares of the Company’s common stock (the “Stock Options”), such Stock Options to be awarded in the sole discretion of the Compensation Committee and in accordance with the terms of the Company’s Stock Option Plan, as such Stock Option Plan may be amended, suspended or terminated from time to time.

  • Stock Options (a) Subsequent to the effectiveness of the Form 10, but prior to the consummation of the Distribution, and subject to the consummation of the Distribution, each option to purchase ALTISOURCE Common Stock (“ALTISOURCE Stock Options”) granted and outstanding under the 2009 Equity Incentive Plan of ALTISOURCE (“ALTISOURCE Option Plan”) shall remain granted and outstanding and shall not, and ALTISOURCE shall cause (to the maximum extent permitted under the ALTISOURCE Option Plan) the ALTISOURCE Stock Options not to, terminate, accelerate or otherwise vest as a result of the Distribution, and each holder thereof immediately prior to the Distribution will be entitled to the following, determined in a manner in accordance with, and subject to, the ALTISOURCE Option Plan, FAS123R and Section 409A of the Internal Revenue Code: (i) an option to acquire a number of shares of Residential Class B Common Stock equal to the product of (x) the number of shares of ALTISOURCE Common Stock subject to the ALTISOURCE Stock Option held by such holder on the Distribution Date and (y) the distribution ratio of one (1) share of Residential Class B Common Stock for every three (3) shares of ALTISOURCE Common Stock (the “Residential Stock Options”), with an exercise price to be determined in a manner consistent with this Section 3.04 and (ii) the adjustment of the exercise price of such holder’s ALTISOURCE Stock Option, to be determined in a manner consistent with this Section 3.04 (the “Adjusted ALTISOURCE Stock Options”) (the Residential Stock Options and the Adjusted ALTISOURCE Stock Options, together, the “Post-Distribution Stock Options”).

  • Restricted Stock and Stock Options Employer shall cause the Compensation Committee of the Board of Directors of Employer to review whether Employee should be granted shares of restricted stock and/or options to purchase shares of common stock of CBSI. Such review may be conducted pursuant to the terms of the Community Bank System, Inc. 2014 Long-Term Incentive Plan, a successor plan, or independently, as the Compensation Committee shall determine. Reviews shall be conducted no less frequently than annually.

  • Incentive Awards a) The Executive shall participate in the Company's annual incentive plan for senior-level executives as in effect from time to time, subject to the performance standards set by the Compensation Committee. Payment of any annual incentive award shall be made at the same time that such awards are paid to other senior-level executives of the Company. The Executive's annual incentive award target shall be set by the Compensation Committee.

  • Employee Stock Options (a) At the Effective Time, each Eligible Stock Option that is then outstanding under the Company Option Plan, whether vested or unvested, shall be assumed by Parent in accordance with the terms (as in effect as of the date of this Agreement) of the Company Option Plan and the stock option agreement by which such Eligible Stock Option is evidenced. All rights with respect to Company Common Stock under outstanding Eligible Stock Options shall thereupon be converted into rights with respect to Parent Common Stock. Accordingly, from and after the Effective Time, (a) each Eligible Stock Option assumed by Parent may be exercised solely for shares of Parent Common Stock, (b) the number of shares of Parent Common Stock subject to each such assumed Eligible Stock Option shall be equal to the number of shares of Company Common Stock that were subject to such Eligible Stock Option immediately prior to the Effective Time multiplied by the Exchange Ratio, rounded down to the nearest whole number of shares of Parent Common Stock, (c) the per share exercise price for the Parent Common Stock issuable upon exercise of each such assumed Eligible Stock Option shall be determined by dividing the exercise price per share of Company Common Stock subject to such Eligible Stock Option, as in effect immediately prior to the Effective Time, by the Exchange Ratio, and rounding the resulting exercise price up to the nearest whole cent, and (d) all restrictions on the exercise of each such assumed Eligible Stock Option shall continue in full force and effect, and the term, exercisability, vesting schedule and other provisions of such Eligible Stock Option shall otherwise remain unchanged; provided, however, that each such assumed Eligible Stock Option shall, in accordance with its terms, be subject to further adjustment as appropriate to reflect any stock split, reverse stock split, stock dividend, recapitalization or other similar transaction effected by Parent after the Effective Time. The Company and Parent shall take all action that may be necessary (under the Company Option Plan and otherwise) to effectuate the provisions of this Section 1.6.

  • Incentive For each calendar year of the Corporation during the term of employment of the Employee under this Employment Agreement, the Employee shall be entitled to participate in a Management Incentive Program pursuant to the terms of which the Employee may receive compensation in addition to his base salary in an amount equal to a specified percentage of his base salary if the Corporation attains its consolidated financial goals during such calendar year of the Corporation. The Management Incentive Program, including the consolidated financial goals established by the Corporation for the calendar year and the formula to be used to determine the payment of amounts under the Management Incentive Program, will be communicated to the Employee in writing prior to the beginning of each calendar year of the Corporation. The first calendar year of the Corporation for purposes of the Management Incentive Program will commence on January 1, 1996 and end on December 31, 1996. If the term of employment of the Employee under this Employment Agreement shall include a portion of a calendar year of the Corporation commencing after January 1, 1996, the Corporation shall not pay the Employee, and the Employee shall not be entitled to receive, any amount under the Management Incentive Program. If there shall be any disagreement between the Corporation and the Employee as to the calculation of the Management Incentive Bonus in any calendar year of the Corporation during the term of employment of the Employee under this Employment Agreement, the decision of the independent Public Accounting firm of the Corporation as to the amount of the Management Incentive Bonus of the Corporation shall be conclusive and binding on the Corporation and the Employee. The Employee shall have no right to inspect any of the books, papers or records of the Corporation, except that the Employee shall be entitled to inspect any certificate of such independent public accounting firm as to the calculation of the Management Incentive Bonus of the Corporation in any calendar year of the Corporation during the term of employment of the Employee under this Employment Agreement. Incentive payments shall be payable to the Employee on or before March 31 after the end of each calendar year of the Corporation during the term of employment of the Employee under this Employment Agreement.

  • Stock Option Plans Each stock option granted by the Company under the Company’s stock option plan was granted (i) in accordance with the terms of the Company’s stock option plan and (ii) with an exercise price at least equal to the fair market value of the Common Stock on the date such stock option would be considered granted under GAAP and applicable law. No stock option granted under the Company’s stock option 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, stock options prior to, or otherwise knowingly coordinate the grant of stock options with, the release or other public announcement of material information regarding the Company or its Subsidiaries or their financial results or prospects.

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