Key Employee Incentive Plan Sample Clauses

Key Employee Incentive Plan. Section 2(g) of the Agreement shall be amended by adding the following subheading:
Sample 1
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Key Employee Incentive Plan. In addition to the eligibility of employees of the Surviving Corporation to participate in Parent's employee equity incentive plans pursuant to Section 5.01 and in ordinary compensation and long term incentive plans of the Surviving Corporation, the Surviving Corporation shall implement a separate long term incentive plan for new and newly promoted existing employees of the Surviving Corporation in the amount of $10 million. Parent shall contribute $7.6 million to the Surviving Corporation to fund such plan in five equal installments in each of the 2005 through 2009 fiscal years; and Earn Out Payments paid in each of the 2005 through 2009 fiscal years shall be reduced by $2 million in each such fiscal year in respect of the Earn Out Recipients' portion of the funding of such plan. Any amounts so contributed that have not been spent by December 31, 2009 in accordance with this Section 5.06 shall revert, pro rata, to Parent and the Earn Out Recipients.
Sample 1
Key Employee Incentive Plan. Buyer shall not be responsible for any amounts due and owing under any employee incentive retention plan or post-petition employee retention or severance plan in respect of Transferred Employees, or otherwise.
Sample 1
Key Employee Incentive Plan. (i) Buyer shall promptly, but in any event within 30 days after a majority of the Executive Team shall give Buyer a list of eligible employees (the “Key Employees”), grant such Key Employees the right to receive a portion of the Incentive Pool (such right, the “Key Employee Incentive Plan”). The terms of such grants are set forth on Schedule 2.3(c). (ii) Buyer shall pay the Incentive Amounts to the Key Employees at the times and as set forth in Section 2.3(n); provided, however, that in the event that Buyer shall shut-down or liquidate the Business or shall breach any of its obligations under Section 9.2, then all such amounts (i.e., the unpaid balance of the Incentive Amounts) shall accelerate and Buyer shall pay such amounts upon the occurrence of such event. (iii) Any payment to a Key Employee under the Key Employee Incentive Plan shall be made to such Key Employee in the amount set forth on Schedule 2.3(c).
Sample 1
Key Employee Incentive Plan. Purchaser shall, or shall cause its affiliates to, (i) assume all liabilities, obligations and commitments with respect to the Business Employees pursuant to Parent’s Key Employee Incentive Plan (the “XXXX”) that relate to the period under the XXXX commencing prior to and ending after the Closing Date, (ii) maintain the XXXX pursuant to its terms as in effect as of the Closing, subject to any modifications that are required in order to take into account the impact, if any, of the transactions contemplated by this Agreement on the performance measures set forth in the XXXX, with respect to the performance period thereunder commencing prior to and ending after the Closing Date and (iii) at the time prescribed by the XXXX as in effect as of the Closing, make payments to the Business Employees in accordance with the terms of the XXXX as in effect as of the Closing.
Sample 1

Related to Key Employee Incentive Plan

  • Incentive Compensation Plan In addition to receipt of Basic Compensation under the Employment Agreement, you shall participate in the Incentive Compensation Plan for Executive Officers of the Company (the “Compensation Plan”) and shall be eligible to receive incentive compensation under the Compensation Plan as may be awarded in accordance with its terms.

  • Equity Incentive Plan The Option is a Nonqualified Option and subject to each and every provision of the Equity Incentive Plan which are incorporated by reference herein, as well as the terms and provisions set forth in this Stock Option Agreement and Notice of Grant (this “Stock Option Agreement”). The Equity Incentive Plan shall govern and be conclusive as to all matters not expressly provided for in this Stock Option Agreement. In the event of any conflict between the terms of this Stock Option Agreement and the Equity Incentive Plan, the terms of this Stock Option Agreement shall govern. All capitalized terms contained herein which are not otherwise defined herein shall have the meanings ascribed to them in the Equity Incentive Plan. By accepting the Option you agree to be bound by the provisions of the Equity Incentive Plan and this Stock Option Agreement. A copy of the Equity Incentive Plan has been previously provided to you.

  • 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:

  • Annual Incentive Plan Executive shall be entitled to participate fully in the Company's 1996 Management Incentive Compensation Plan, as amended (the "MICP"), and as may be further amended, modified, or replaced, from time to time, in accordance with the terms and conditions set forth herein and therein.

  • 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.

  • 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%).

  • 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.

  • Equity Incentive Plans Each stock option granted by the Company under the Company’s equity incentive plan was granted (i) in accordance with the terms of the Company’s equity incentive 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 equity incentive 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.

  • 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.

  • 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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