Integration Award Sample Clauses

Integration Award. As soon as reasonably practicable following the Effective Date, the Compensation Committee shall grant to the Executive a special integration award (the “Integration Award”) with a target value of $4,000,000, based on achievement of integration goals as determined by the Compensation Committee; provided that, except as otherwise provided in Article 4 below, Executive remains employed by the Employers as of the payment date of such award. Except as provided in this Agreement, the terms of the Integration Award shall be consistent with the terms of the integration awards made to other senior executives of the Company.
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Integration Award. You will be granted a Performance Share award of 164,829 shares of Company Common Stock (the “Integration Award”). The Integration Award shall be granted under the Old National Bancorp Amended and Restated 2008 Incentive Compensation Plan, as amended (the “Plan”), and shall be evidenced by a separate award agreement. The Integration Award shall vest twenty-four (24) months following the Closing Date (the “Performance Period”), subject to the achievement of $109 million in estimated cost savings from the Merger (“Integration Performance Target”) during the Performance Period, as set forth in Model of Cost Saves presented to the Committee (as defined in the Plan). The Integration Award will be paid based upon approval by the Committee of the percentage of achievement of the Integration Performance Target during the Performance Period, with fifty percent (50%) of the Performance Shares underlying the Integration Award being payable upon achievement during the Performance Period of cost savings equal to a minimum seventy-five percent (75%) of the Integration Performance Target. The remaining Performance Shares underlying the Integration Award shall be payable upon achievement of cost savings during the Performance Period between seventy-five percent (75%) of the Integration Performance Target and one hundred percent (100%) or more of the Integration Performance Target. The Performance Shares payable for achievement of the Integration Performance Target between seventy-five percent (75%) and one hundred percent (100%) of the Integration Performance Target shall be determined on a prorated, straight-line basis for achievement of results falling between the seventy-five percent (75%) and one hundred percent (100%) thresholds (e.g., if 70% of the Integration Performance Target is achieved, no Performance Shares shall be payable; if 90% of the Integration Performance Target is achieved, 80% of the Performance Shares underlying the Integration Award shall be payable; and if 100% or more of the Integration Performance Target is achieved, 100% of the Performance Shares underlying the Integration Award shall be payable). If the Committee determines that the Integration Performance Target has been achieved prior to the end of the Performance Period, then it may accelerate the vesting and payment of the Integration Award, but not to a date that is earlier than the one-year minimum vesting period provided in the Plan. Any unpaid portion of your Integration Award will be p...
Sample 1
Integration Award. The Executive will be eligible for an integration award in the amount of one million dollars ($1,000,000), payable in cash, provided he is a current employee with the Company on December 31, 2013 and has relocated to the San Francisco Bay Area as requested by the Company. If the integration award vests on December 31, 2013, this award shall be paid by the Company to the Executive as soon as reasonably practicable thereafter, but in no event later than March 15, 2014.
Sample 1

Related to Integration Award

  • Performance Award You are hereby awarded, on the Grant Date, a Performance Award with a target value of [AMOUNT].

  • Service Award Named Plaintiff may apply to the Court for a service award of up to ten thousand dollars ($10,000). Subject to the Court’s approval, the service award shall be paid from the Settlement Fund ten (10) days after the Effective Date.

  • Performance Share Award If your Award includes a Performance Share Award, and you voluntarily terminate your employment prior to the end of the Performance Period, you will forfeit your entire Performance Share Award. 

  • Performance Share Awards On the Performance Share Vesting Date next following the Executive's date of death, the number of Performance Shares that shall become Vested Performance Shares shall be determined by multiplying (a) that number of shares of Company Common Stock subject to the Performance Share Agreement that would have become Vested Performance Shares had no such termination occurred; provided, however, in no case shall the number of Performance Shares that become Vested Performance Shares exceed 100% of the Target Number of Performance Shares set forth in the Performance Share Agreement, by (b) the ratio of the number of full months of the Executive's employment with the Company during the Performance Period (as defined in the Performance Share Agreement) to the number of full months contained in the Performance Period. Vested Common Shares shall be issued in settlement of such Vested Performance Shares on the Settlement Date next following the Executive’s date of death.

  • Performance Units Subject to the limitations set forth in paragraph (c) hereof, the Committee may in its discretion grant Performance Units to any Eligible Person and shall evidence such grant in an Award Agreement that is delivered to the Participant which sets forth the terms and conditions of the Award.

  • Performance Awards With respect to any Performance Award, the length of any Performance Period, the Performance Goals to be achieved during the Performance Period, the other terms and conditions of such Award, and the measure of whether and to what degree such Performance Goals have been attained will be determined by the Board.

  • 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.

  • Performance Share Units The Committee may, in its discretion, grant to Executive performance share units subject to performance vesting conditions (collectively, the “Performance Units”), which shall be subject to restrictions on their sale as set forth in the Plan and an associated Performance Unit Grant Letter.

  • Performance Shares Each Performance Share is a bookkeeping entry that records the equivalent of one Share. Upon the vesting of the Performance Shares as provided in Section 2, the vested Performance Shares will be settled as provided in Section 3.

  • Performance Incentive 4.10.1 If the Seller delivers Coal to the Purchaser in excess of ninety percent (90%) of the ACQ in a particular Year, the Purchaser shall pay the Seller an incentive (“Performance Incentive”/ “PI”), to be determined as follows: PI = P x Additional Deliveries x Multiplier Where: PI = The Performance Incentive payable by the Purchaser to the Seller P = The Base Price of Highest Grade, as shown in Schedule II Additional Deliveries = Quantity [in tonnes] of Coal delivered by the Seller in the relevant Year in excess of 90% of the ACQ. Multiplier shall be 0.15 for Additional Deliveries between 90%-95% of ACQ and 0.30 for Additional Deliveries in excess of 95% of ACQ. 4.10.2 With respect to part of a Year in which the term of this Agreement begins or ends, the relevant quantities in Clause 4.10.1, except the Multiplier, shall apply pro-rata. 4.10.3 Within thirty (30) days of expiry of a Year, the Seller shall submit an invoice to the Purchaser with respect to the PI payable in terms of Clause 4.10.1 and the Purchaser shall pay the amount so due within thirty (30) days of the receipt of the invoice. In the event of non-payment of PI by the due date, the Seller shall have the right to suspend Coal supplies without absolving the Purchaser of its obligations under this Agreement.

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