Initial Long-Term Incentive Awards Sample Clauses

Initial Long-Term Incentive Awards. (a) On the date of this Agreement, pursuant to the 1992 Plan, the Company shall (i) grant Executive an immediately exercisable non-qualified option to purchase 20,000 shares of Common Stock at an exercise price equal to the Market Value on the date of this Agreement and (ii) make a full recourse, five-year loan to Executive in an amount equal to the aggregate exercise price for such stock option (the "LOAN"). The Loan shall be made pursuant to a loan agreement between Company and Executive in the form of EXHIBIT A to this Agreement (the "LOAN AGREEMENT"), under which the shares so acquired (and any securities resulting from ownership of such shares) shall be pledged by Executive to the Company as collateral for amounts payable under the Loan Agreement. (b) On the date of this Agreement, Executive shall also receive non-qualified stock options to purchase 50,000 shares of Common Stock (the "OPTIONS") at the Market Value on the date of this Agreement. The Options shall be evidenced by a stock option agreement containing the terms and provisions of such Options (including, without limitation, term and termination provisions) together with such other terms and conditions as the Company may reasonable require to assure compliance with applicable law and stock exchange requirements. One third of such Options (i.e., 16,667) shall vest and be fully exercisable on each of the third, fourth, and fifth anniversaries of the Start Date. All such unexercised Options shall, however, automatically terminate on the close of business on the thirtieth day following the fifth anniversary of the Start Date, provided that the Market Value of the Common Stock has not exceeded $39.00 for ten consecutive trading days during the five-year period (as adjusted for any stock split or share dividend). Notwithstanding the foregoing, the Board, acting in its sole discretion, may modify the terms and conditions of the Options, but not the economic substance, if necessary or appropriate to achieve desired accounting treatment.
Sample 1
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Initial Long-Term Incentive Awards. (a) On the date of this Agreement, pursuant to the 1992 Plan, the Company shall (i) grant Executive an immediately exercisable non-qualified option to purchase 7,500 shares of Common Stock at an exercise price equal to the Market Value (as hereinafter defined) on the date of this Agreement and (ii) make a full recourse, five-year loan to Executive in an amount equal to the aggregate exercise price for such stock option (the "STOCK
Sample 1
Initial Long-Term Incentive Awards. In connection with the Executive’s commencement of employment, the Executive will be granted on the date of this Agreement three special one-time equity awards (the “Initial Awards”). The Initial Awards will have the terms and conditions set forth in this Agreement and such other terms and conditions as are set forth in the applicable award agreements attached hereto.
Sample 1
Initial Long-Term Incentive Awards 
Sample 1

Related to Initial Long-Term Incentive Awards

  • Long-Term Incentive Awards The Executive shall participate in any long-term incentive awards offered to senior executives of the Company, as determined by the Compensation Committee.

  • Long-Term Incentive Award During the Term, Executive shall be eligible to participate in the Company’s long-term incentive plan, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

  • Long-Term Incentive Plans During the Employment Period, the Executive shall be eligible to participate in any long term incentive compensation plan maintained by the Company on the terms established from time to time by the Board or the Compensation Committee of the Board, as applicable.

  • Long-Term Incentives The Company shall provide the Executive the opportunity to earn long-term incentive awards under the current equity and cash based plans and programs or replacements therefor at a level commensurate with the current aggregate opportunity being provided to the Executive.

  • Long-Term Incentive The Company shall provide Employee an opportunity to participate in the Company’s applicable long term incentive plan as it may or may not exist from time to time.

  • Long Term Incentive Plan The Executive shall be entitled to participate in the Company’s long-term incentive plan in accordance with its terms that may be in effect from time to time and subject to such other terms as the Board, in its sole discretion, may approve.

  • Long-Term Incentive Compensation Subject to the Executive’s continued employment hereunder, the Executive shall be eligible to participate in any equity incentive plan for executives of the Firm as may be in effect from time to time, in accordance with the terms of any such plan.

  • Long-Term Incentive Program During the Term, the Employee shall participate in all long-term incentive plans and programs of the Group that are applicable to its senior executives in accordance with their terms and in a manner consistent with his position with the Company.

  • 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.

  • Incentive Bonus Plan Employee shall be eligible for a bonus opportunity of up to 65% of his annual base salary in accordance with the Company’s Incentive Bonus Plan as modified from time to time, payable in cash and/or equity of the Company (at the Company’s discretion). The bonus payment and the Company’s targeted performance shall be determined and approved by the Board or the compensation committee thereof.

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