Initial Incentive Awards Sample Clauses

Initial Incentive Awards. (1) In addition to your Salary and Bonus, on your Start Date you will be awarded (A) stock options to purchase 350,000 shares of the Company’s common stock (your “Sign-On Options”) and (B) 100,000 restricted shares of the Company’s common stock (your “Sign-On Stock”). (2) Your Sign-On Options will be granted under the Company’s 2002 Incentive Plan and will have an exercise price equal to the Start Date Closing Price. Your Sign-On Options will vest 34%, 33% and 33% on the first, second and third anniversaries of the Start Date. (3) Your Sign-On Stock will be granted under the Company’s 2002 Incentive Plan. Initially, your Sign-On Stock may not be transferred or assigned and will be forfeited to the Company for zero (0) consideration if your employment with the Company is terminated for any reason prior to vesting. Your Sign-On Stock will vest in equal installments on each of the first three one-year anniversaries of your Start Date (such restricted stock is “vested” when it is no longer subject to such transfer restrictions and forfeiture provisions). (4) Except as provided in this Agreement, your Sign-On Options and Sign-On Stock will be subject to the terms of the Company’s 2002 Incentive Plan and to the terms of your award agreement under it (which will contain the Group’s normal provisions for senior executives).
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Initial Incentive Awards. (a) The Executive is hereby granted (i) options on 180,000 shares of common stock of the Company ("Common Stock") at an exercise price equal to the lesser of $12.50 or the fair market value of the Common Stock as of the effective date of the Spin-Off (the "Exercise Price"); and (ii) 90,000 shares of the Company's common stock (collectively the "Initial Incentive Awards"). The Initial Incentive Awards shall be subject to the general terms and conditions of the incentive plans under which they were granted subject in each case to any provisions of this Agreement providing for accelerated vesting. (b) The Executive's rights with respect to certain previously granted incentive awards in Corning shall be converted into (i) options on 185,600 shares of Common Stock (representing first and second year CPP-6 stock options under Corning's long-term plan), and (ii) 55,085 shares of Common Stock (the "CCL Career Shares") (such CCL Career Shares to be subject to the vesting provisions set forth in Annex A hereto, absent accelerated vesting under the terms of this Agreement) (collectively "Converted Incentive Awards"). (c) The final number of Initial Incentive Awards and Converted Incentive Awards granted to the Executive shall be adjusted pro rata upward or downward, as the case may be, depending on the appropriate pricing formula finally adopted with the approval of the Executive, and the extent to which the price of the Common Stock on the effective date of the Spin-off is less than or greater than $12.50 per share.
Sample 1
Initial Incentive Awards. (i) In addition to your Salary and Bonus, subject to approval of the Board, on or promptly following your Start Date, you will be awarded options to purchase (1) 100,000 shares of the Company’s common stock, subject to the provisions of the Company’s Incentive Stock Option Plan (the “ISO Plan”) and the option award agreement thereunder and (2) 10,000 shares of the Company’s common stock under an option agreement not granted under the ISO Plan but on substantially the same terms as the option award agreement under the ISO Plan (collectively, your “Options”). The exercise price of the Options will be the closing sale price of the Company’s common stock on the NASDAQ Global Market on the date of grant (the “Option Grant Date”). (ii) Your Options will become vested and exercisable in accordance with the following schedule, provided you are employed by the Company on the applicable vesting date: • 25% will vest 12 months from the Option Grant Date; • 25% will vest 24 months from the Option Grant Date; • 25% will vest 36 months from the Option Grant Date; and • 25% will vest 48 months from the Option Grant Date. Upon a “Change of Control” (as defined in the ISO Plan), all your Options that have not yet vested shall vest and become exercisable in accordance with the terms of the option award agreements.
Sample 1
Initial Incentive Awards. (i) In addition to your Salary and Bonus, subject to approval of the Board, on or promptly following your Start Date, you will be awarded options to purchase (1) 100,000 shares of the Company’s common stock (the “Options”), subject to the provisions of the Company’s Incentive Stock Option Plan (the “ISO Plan”) and the option award agreement thereunder. The exercise price of the Options will be the closing sale price of the Company’s common stock on the NASDAQ Global Market on the date of grant (the “Option Grant Date”). (ii) Your Options will become vested and exercisable in accordance with the following schedule, provided you are employed by the Company on the applicable vesting date: • 25% will vest 12 months from the Option Grant Date; • 25% will vest 24 months from the Option Grant Date; • 25% will vest 36 months from the Option Grant Date; and • 25% will vest 48 months from the Option Grant Date. Upon a “Change of Control” (as defined in the ISO Plan), all your Options that have not yet vested shall vest and become exercisable in accordance with the terms of the option award agreements, provided that within eighteen (18) months of a Change of Control, you have been terminated by the Company without Cause or you have terminated your employment for Good Reason, as those terms are defined in this Agreement. Further, should your options vest as a result of a Change of Control under this Paragraph, your then current salary will continue for eighteen (18) months under Paragraph 6(b)(2)(A), rather than for twelve (12) months.
Sample 1
Initial Incentive Awards. (i) In addition to your Salary and Bonus, subject to approval of the Board, on or promptly following your Start Date, you will be awarded options to purchase (1) 60,000 shares of the Company’s common stock, subject to the provisions of the Company’s Incentive Stock Option Plan (the “ISO Plan”) and the option award agreement thereunder. The exercise price of the Options will be the closing sale price of the Company’s common stock on the NASDAQ Global Market on the date of grant (the “Option Grant Date”). (ii) Your Options will become vested and exercisable in accordance with the following schedule, provided you are employed by the Company on the applicable vesting date: • 25% will vest 12 months from the Option Grant Date; • 25% will vest 24 months from the Option Grant Date; • 25% will vest 36 months from the Option Grant Date; and • 25% will vest 48 months from the Option Grant Date. Upon a “Change of Control” (as defined in the ISO Plan), all your Options that have not yet vested shall vest and become exercisable in accordance with the terms of the option award agreements.
Sample 1
Initial Incentive Awards. (1) In addition to your Salary and Bonus, on your Start Date or promptly thereafter, you will be awarded (A) stock options to purchase 50,000 shares of the Company’s common stock (your “Sign-On Options”) and (B) 60,000 restricted shares of the Company’s common stock (your “Sign-On Stock”). (2) Your Sign-On Options will be granted under the Company’s 2002 Incentive Plan and will have an exercise price equal to the closing price of the Company’s common stock on the date of grant. Your Sign-On Options will vest 34%, 33% and 33% on the first, second and third anniversaries of the date of grant. (3) Your Sign-On Stock will be granted under the Company’s 2002 Incentive Plan. Initially, 66% of your Sign-On Stock may not be transferred or assigned and will be forfeited to the Company for zero (0) consideration if your employment with the Company is terminated for any reason prior to vesting. Your Sign-On Stock will vest 34% on the grant date and 33% and 33% on the first and second anniversaries of the grant date (such restricted stock is “vested” when it is no longer subject to such forfeiture provisions and, to the extent vested, will not be subject to the transfer restrictions described above). (4) Except as provided in this Agreement, your Sign-On Options and Sign-On Stock will be subject to the terms of the Company’s 2002 Incentive Plan and to the terms of your award agreement under it.
Sample 1
Initial Incentive Awards 
Sample 1
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Related to Initial Incentive Awards

  • Annual Incentive Awards The Executive shall participate in the Company's annual incentive compensation plan with a target annual incentive award opportunity of no less than 40% of Base Salary and a maximum annual incentive award opportunity of 80% of Base Salary. Payment of annual incentive awards shall be made at the same time that other senior-level executives receive their incentive awards.

  • Equity Incentive Awards The Executive shall be eligible to receive grants of equity-based long-term incentive awards, which may include options to purchase Company stock, performance or restricted stock units and Company restricted stock contributions to Company’s deferred compensation plan, or other equity-based awards. Such awards shall be determined in the discretion of the Board and the Executive shall be eligible for consideration for such awards in the same manner as other senior executive officers of the Company. In the event of a Change of Control in which the surviving or acquiring corporation does not assume the Executive’s outstanding equity-related awards (including options and equity-based awards granted both before and after the Effective Date) or substitute similar equity-related awards of substantially equivalent value, such equity-related awards shall immediately vest and become exercisable if the Executive’s service with the Company has not terminated before the effective date of the Change of Control; provided, however, that the foregoing provision shall only apply if the Company is not the surviving corporation or if shares of the Company’s common stock are converted into or exchanged for other securities or cash.

  • Incentive Bonuses After the Company attains profitability, the Employee shall be eligible to be considered for an annual incentive bonus. Such bonus (if any) shall be awarded based on objective or subjective criteria established in advance by the Board or its Compensation Committee. The determinations of the Board or its Compensation Committee with respect to such bonus shall be final and binding. Except as expressly provided in this Agreement, the Employee shall not be entitled to an incentive bonus if he is not employed by the Company on the date when such bonus is payable.

  • Annual Incentive Bonus The Company shall, in addition to Executive’s Base Salary, pay Executive an Annual Incentive Bonus, which shall be payable within 120 days of the end of each fiscal year in accordance with the formula set forth on Exhibit A, attached hereto and made a part hereof.

  • Annual Incentive The Employee shall be entitled to receive a percentage of the Employee's Target Incentive for the calendar year in which such termination occurs. Such percentage shall equal a fraction, the numerator of which shall be the number of days in such calendar year up to and including the date of such termination and the denominator of which shall be the number of days in such calendar year. Such amount shall be payable according to the normal practice of the Company with respect to the payment of bonuses.

  • 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.

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

  • Incentive Award The three (3) year rolling average of earnings growth and Return On Equity (the "XXX") and determined as of December 31 of each plan year shall determine the Director's Incentive Award Percentage, in accordance with the attached Schedule A. The chart on Schedule A is specifically subject to change annually at the sole discretion of the Company's Board of Directors. The Incentive Award is calculated annually by taking the Director's Annual Fees for the Plan Year in which the XXX and Earnings Growth was calculated times the Incentive Award Percentage.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

  • Annual Incentive Compensation Executive shall be eligible to receive an annual bonus (“Annual Bonus”) with respect to each fiscal year ending during the Employment Period. The Annual Bonus shall be determined under the 2006 Omnibus Incentive Plan (the “Omnibus Plan”) or such other annual incentive plan maintained by the Company for similarly situated employees that the Company designates, in its sole discretion (any such plan, the “Bonus Plan”), in accordance with the terms of such plan as in effect from time to time. For each such fiscal year, Executive shall be eligible to earn a target Annual Bonus equal to seventy percent (70%) of Executive’s Base Salary for such fiscal year, if the Company achieves the target performance goals established by the Board for such fiscal year in accordance with the terms of the Bonus Plan. If the Company does not achieve the threshold performance goals established by the Board for a fiscal year, Executive shall not be entitled to receive an Annual Bonus for such fiscal year. If the Company exceeds the target performance goals established by the Board for a fiscal year, Executive may be entitled to earn an additional Annual Bonus for such year in accordance with the terms of the applicable Bonus Plan. The Annual Bonus for each year shall be payable at the same time as bonuses are paid to other senior executives of the Company in accordance with the terms of the applicable Bonus Plan, but in no event later than two and a half (21/2) months following the end of the applicable fiscal year in which such Annual Bonus was earned. Executive shall be entitled to receive any Annual Bonus that becomes payable in a lump-sum cash payment, or, at his election, (A) up to fifty percent (50%) of the Annual Bonus in the form of a grant of restricted stock units of Common Stock (as defined below) or (B) in any form that the Board generally makes available to the Company’s executive management team, provided that any such election is made by Executive in compliance with Section 409A of the Code and the regulations promulgated thereunder.

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