Incentive Plan Rights Sample Clauses

Incentive Plan Rights. As of the effective date of a Change in Control, (i) Executive's Options and related Stock Appreciation Rights awarded under the 1996 Director Stock Compensation and Option Plan, the 1996 Stock Incentive Program and the 2003 Stock Plan will become fully vested and exercisable; (ii) the Restricted Period will end for Executive's Restricted Shares awarded under the 2003 Stock Plan; (iii) Executive's Deferred Share Units awarded under the 2003 Stock Plan will become fully vested and payable; (iv) Executive will become entitled to payment for all Performance Shares or Performance Units awarded under the 2003 Stock Plan; and (v) Executive will become entitled, under the 2005 Profit Sharing Incentive Bonus Plan, to receive any bonus payments due for the fiscal year immediately preceding the Change in Control and a prorated share of bonus payments for the fiscal year in which the Change in Control occurs. As soon as practicable following the Change in Control, Xxxxxxx will make a single payment to Executive, equal to the aggregate Value of all benefits under the plans identified in this subsection (a), in the form of cash, Shares, or a combination of cash and Shares, as determined by the Compensation Committee of the Board of Directors, in its sole discretion. That single payment will constitute payment in full and complete satisfaction of Executive's rights and benefits under all of Executive's award agreements and the applicable plans.
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Incentive Plan Rights. As of the effective date of a Change in Control, (i) Executive’s Options and related Stock Appreciation Rights awarded under the 2014 Stock Option and Incentive Plan will become fully vested and exercisable; (ii) the Restricted Period will end for Executive’s Restricted Shares awarded under the 2014 Stock Option and Incentive Plan; (iii) subject to the limitations of and compliance with Section 409A, Executive will become entitled to payment for all Performance Shares or Performance Units awarded under the 2014 Stock Option and Incentive Plan; and (iv) Executive will become entitled, under the Profit Sharing Incentive Bonus Plan, to receive any bonus payments due for the fiscal year immediately preceding the Change in Control and a prorated share of bonus payments for the fiscal year in which the Change in Control occurs. As soon as practicable within sixty (60) days following the Change in Control, Xxxxxxx will make a single payment to Executive, equal to the aggregate Value of all benefits under the plans identified in this subsection (a), in the form of cash, Shares, or a combination of cash and Shares, as determined by the Compensation Committee of the Board of Directors, in its sole discretion. That single payment will constitute payment in full and complete satisfaction of Executive’s rights and benefits under all of Executive’s award agreements and the applicable plans.
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Incentive Plan Rights. As of the Termination Date, (i) Executive's Options and related Stock Appreciation Rights awarded under the 2003 Stock Plan will become fully vested and exercisable; (ii) the Restricted Period will end for Executive’s Restricted Shares awarded under the 2003 Stock Plan; (iii) Executive’s Deferred Share Units awarded under the 2003 Stock Plan will become fully vested and payable; (iv) Executive's Performance Share Units under the Relative Total Shareholder Return program of the 2003 Stock Plan will be adjusted according to the terms of the Award Agreements for such Performance Share Units; (v) Executive will become entitled to payment at target for all other Performance Shares or Performance Units awarded under the 2003 Stock Plan; and (vi) Executive will become entitled, under the 2010 Profit Sharing Incentive Bonus Plan or any subsequent replacement plan, to receive any bonus payments due for the fiscal year immediately preceding the Termination Date and a prorated share of bonus payments at target for the fiscal year in which the Termination Date occurs. As soon as practicable following the Termination Date, Xxxxxxx will make a single payment to Executive, equal to the aggregate Value of all benefits under the plans identified in this subsection (1), in the form of cash, Shares, or a combination of cash and Shares, as determined by the Compensation Committee of the Board of Directors, in its sole discretion. That single payment will constitute payment in full and complete satisfaction of Executive’s rights and benefits under all of Executive’s award agreements and the applicable plans.
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Incentive Plan Rights. As of the Termination Date, (i) Executive's Options and related Stock Appreciation Rights awarded under the ___________________, the ____________________, and the ____ Stock Plan will become fully vested and exercisable; (ii) the Restricted Period will end for Executive's Restricted Shares awarded under the ____ Stock Plan; (iii) Executive's Deferred Share Units awarded under the ____ Stock Plan will become fully vested and payable; (iv) Executive will become entitled to payment for all Performance Shares or Performance Units awarded under the ____ Stock Plan; and (v) Executive will become entitled, under the ____ Profit Sharing Incentive Bonus Plan, to receive any bonus payments due for the fiscal year immediately preceding the Termination Date and a prorated share of bonus payments for the fiscal year in which the Termination Date occurs. As soon as practicable following the Termination Date, Xxxxxxx will make a single payment to Executive, equal to the aggregate Value of all benefits under the plans identified in this subsection (1), in the form of cash, Shares, or a combination of cash and Shares, as determined by the Compensation Committee of the Board of Directors, in its sole discretion. That single payment will constitute payment in full and complete satisfaction of Executive's rights and benefits under all of Executive's award agreements and the applicable plans.
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Incentive Plan Rights. The Parties recognize that a termination without Cause will entitle Employee to certain rights under option agreements, performance unit agreements and restricted unit agreements which he has previously entered and which have been awarded under the terms of the Amended and Restated Linn Energy, LLC Long Term Incentive Plan, as amended, or any successor plan (the “Incentive Plan”). Employee’s rights under those agreements will be governed by the terms and conditions of the applicable agreements and the Incentive Plan except as amended by this Agreement. For the avoidance of doubt, Employee’s performance unit awards granted pursuant to Employee’s a) Executive Performance Unit Grant Agreement, dated January 23, 2014, and b) Executive Phantom Performance Unit Grant Agreement, dated January 26, 2015 (collectively, “Performance Unit Agreements”) will continue to vest in accordance with the terms of the Performance Unit Agreements. If Employee executes (and does not revoke) this Agreement, and has satisfied all of the other terms and conditions set forth in this Agreement, the Company shall pay to Employee, on October 1, 2015, $671,975, in exchange for Employee’s forfeiture of the unvested restricted units of the Company that would otherwise vest on the Termination Date pursuant to the terms of the Incentive Plan and applicable agreements thereunder. The parties hereby agree that $671,975 is equal to the fair market value, determined as of the Termination Date, of the number of restricted units of the Company that, but for this Section 4, would have been settled in the form of units of the Company as a result of Employee’s termination without Cause, and Employee agrees that such cash payment is in full satisfaction of such units and disclaims any other rights to such units.
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Incentive Plan Rights. (a) The Parties recognize that a termination without Cause will entitle Employee to certain rights under option agreements and restricted unit agreements which he has previously entered and which have been awarded under the terms of the Linn Energy, LLC Long Term Incentive Plan or any successor plan (the “Incentive Plan”). Employee’s rights under those agreements will be governed by the terms and conditions of the applicable agreements and the Incentive Plan. (b) The Parties recognize that the Compensation Committee of the Board of Directors of Linn Energy has recommended that Employee be granted an award of 6,800 restricted Units (as defined in the Incentive Plan) under the terms of the Incentive Plan, which such award shall be granted promptly following, and conditioned upon, the approval by the Unit holders of Linn Energy of an increase in the maximum number of Units subject to awards under the Incentive Plan. The Parties recognize that Employee’s rights regarding such an award will be governed by the terms and conditions of the applicable restricted unit agreement and Incentive Plan, if applicable. In the event that such approval is not obtained by the Payment Date, if employee executes (and does not revoke) a Release in the form attached as Exhibit A, and has satisfied all the other terms and conditions set forth in this Agreement, on the Payment Date, the Company will pay a lump sum cash payment in an amount equal to the Fair Market Value (as defined in the Incentive Plan) of 6,800 Units, determined as of the Payment Date, in lieu of the Incentive Plan award described in this paragraph.
Sample 1
Incentive Plan Rights. The Parties recognize that a termination without Cause will entitle Employee to certain rights under option agreements and restricted unit agreements which she has previously entered and which have been awarded under the terms of the Linn Energy, LLC Long Term Incentive Plan or any successor plan (the “Incentive Plan”). Employee’s rights under those agreements will be governed by the terms and conditions of the applicable agreements and the Incentive Plan.
Sample 1
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Incentive Plan Rights. As of the Termination Date, (i) Executive’s Options and related Stock Appreciation Rights awarded under the 2014 Stock Option and Incentive Plan will become fully vested and exercisable; (ii) the Restricted Period will end for Executive’s Restricted Shares awarded under the Equity Plan; (iii) subject to the limitations of and compliance with Section 409A, Executive will become entitled to payment for all Performance Shares or Performance Units awarded under the 2014 Stock Option and Incentive Plan; and (iv) Executive will become entitled, under the Profit Sharing Incentive Bonus Plan, to receive any bonus payments due for the fiscal year immediately preceding the Termination Date and a prorated share of bonus payments for the fiscal year in which the Termination Date occurs. As soon as practicable within sixty (60) days following the Termination Date, Xxxxxxx will make a single payment to Executive, equal to the aggregate Value of all benefits under the plans identified in this subsection (1), in the form of cash, Shares, or a combination of cash and Shares, as determined by the Compensation Committee of the Board of Directors, in its sole discretion. That single payment will constitute payment in full and complete satisfaction of Executive’s rights and benefits under all of Executive’s award agreements and the applicable plans.
Sample 1

Related to Incentive Plan Rights

  • Incentive Plan During the Term, the Employee shall be eligible for incentive compensation in accordance with the following incentive plan (the “Incentive Plan”). Shortly after the beginning of each calendar year, the Company’s Board of Directors will establish a target of the Company Net Income (as defined below) for such calendar year (the “Annual Net Income Target”). In no event shall Employee earn any amount under the Incentive Plan for any calendar year during the Term unless the actual Company Net Income for such calendar year equals or exceeds ninety percent (90%) of the Annual Net Income Target for such calendar year. The threshold referred to in the immediately preceding sentence shall hereinafter be referred to as the “Annual Net Income Threshold.” For all purposes of this Employment Agreement, “Company Net Income” shall mean the net income of the Company and its subsidiaries on a consolidated basis, determined in accordance with generally accepted accounting principles consistently applied, as adjusted to exclude (x) any extraordinary non-cash or nonrecurring non-cash charges or losses incurred by the Company and its subsidiaries other than in the ordinary course of business, including but not limited to losses or expenses resulting from redemptions or repayments of indebtedness, or modifications or amendments of the Company’s credit facility, in each case net of related tax benefit, and (y) other appropriate items as determined by the Board of Directors or the Executive Compensation Committee of the Board of Directors (the “Compensation Committee”). The amount payable under the Incentive Plan to Employee for each full calendar year during the Term shall equal the Base Salary actually paid to the Employee for such calendar year multiplied by the sum of the Department Performance Percentage and the Company Performance Percentage (as determined below) for such calendar year. Not later than March 15 of each calendar year, the maximum percentages for each of the Department Performance Percentage (the “Department Maximum Performance Percentage”) and the Company Performance Percentage (the “Company Maximum Performance Percentage”) shall be established by the Compensation Committee for such calendar year within a range of forty percent (40%) and sixty percent (60%); provided that the sum of such percentages shall equal one hundred percent (100%) each calendar year. If the Compensation Committee shall not timely establish either or both of the Department Maximum Performance Percentage or the Company Maximum Performance Percentage for the calendar year 2008, each of such percentages shall be fifty percent (50%). If the Compensation Committee shall not timely establish either or both of the Department Maximum Performance Percentage or the Company Maximum Performance Percentage for any future calendar year during the Term, the respective percentages that were applicable for the prior calendar year shall apply for such calendar year. The sum of the Department Performance Percentage and the Company Performance Percentage for each calendar year shall be referred to herein as the “Incentive Percentage.” For each calendar year the maximum Incentive Percentage shall be one hundred percent (100%).

  • Stock Incentive Plans Nothing in this Agreement shall be construed or applied to preclude or restrain the General Partner from adopting, modifying or terminating stock incentive plans for the benefit of employees, directors or other business associates of the General Partner, the Partnership or any of their Affiliates or from issuing REIT Shares, Capital Shares or New Securities pursuant to any such plans. The General Partner may implement such plans and any actions taken under such plans (such as the grant or exercise of options to acquire REIT Shares, or the issuance of restricted REIT Shares), whether taken with respect to or by an employee or other service provider of the General Partner, the Partnership or its Subsidiaries, in a manner determined by the General Partner, which may be set forth in plan implementation guidelines that the General Partner may establish or amend from time to time. The Partners acknowledge and agree that, in the event that any such plan is adopted, modified or terminated by the General Partner, amendments to this Agreement may become necessary or advisable and that any approval or Consent to any such amendments requested by the General Partner shall be deemed granted by the Limited Partners. The Partnership is expressly authorized to issue Partnership Units (i) in accordance with the terms of any such stock incentive plans, or (ii) in an amount equal to the number of REIT Shares, Capital Shares or New Securities issued pursuant to any such stock incentive plans, without any further act, approval or vote of any Partner or any other Persons.

  • Incentive Plans During the Term of this Agreement, Executive shall be entitled to participate in all bonus, incentive compensation and performance based compensation plans, and other similar policies, practices, programs and arrangements of the Company, now in effect or as hereafter amended or established, on a basis that is commensurate with his position and no less favorable than those generally applicable or made available to other executives of the Company. The Executive's participation shall be in accordance with the terms and provisions of such plans and programs. Participation shall include, but not be limited to:

  • Stock Incentive Plan Executive shall be eligible for awards under the Employer’s Stock Incentive Plan. The type, timing and size of awards will be at the discretion of the Board of Directors.

  • Management Incentive Plan “Management Incentive Plan” shall mean the Company’s bonus program, as implemented by the Company’s board of directors from time to time and pursuant to which the Executive may receive incentive-based compensation at fiscal year end.

  • Incentive ‌ Incentives are defined under FAR Subpart 16.4, Incentive Contracts, and other applicable agency-unique regulatory supplements. The OCO will determine fair and reasonable pricing for all Incentive Task Orders and develop a plan to implement and monitor an Award-Fee, Incentive-Fee, or Award-Term result in accordance with FAR 15.4, Pricing.

  • Incentive Program Members who are rated as either Level I, Level II or Level III in every phase of the Physical Fitness Test are eligible to participate in the Incentive Program.

  • Future Stock Incentive Plans Nothing in this Agreement shall be construed or applied to preclude or restrain the Corporation from adopting, modifying or terminating stock incentive plans for the benefit of employees, directors or other business associates of the Corporation, the Company or any of their respective Affiliates. The Members acknowledge and agree that, in the event that any such plan is adopted, modified or terminated by the Corporation, amendments to this Section 3.10 may become necessary or advisable and that any approval or consent to any such amendments requested by the Corporation shall be deemed granted by the Manager and the Members, as applicable, without the requirement of any further consent or acknowledgement of any other Member.

  • Stock Incentives Executive shall be entitled to such vesting or other benefits as are provided by the award agreement pertaining thereto.

  • 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. b) The Executive shall be eligible to receive grants under the Company's long-term incentive plans as in effect from time to time; provided, however, that the size, type and other terms and conditions of any such grant to the Executive shall be determined by the Compensation Committee.

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