Long-term Cash Incentives. Each Dover long-term cash incentive award that is held by an Apergy Employee with a performance period that extends beyond the Effective Time will be cancelled and forfeited as of the Effective Time.
Long-term Cash Incentives. During the Term of Employment, the Executive shall participate in the Company's Long-Term Incentive Plan ("LTIP"). Commencing on the Effective Date, the Executive shall participate in the 1996-1998 and 1997-1999 LTIP performance cycles on a Pro Rata basis, with a guaranteed minimum payout (subject to the provisions of Section 13) of $350,000 for the 1996-1998 cycle and $250,000 for the 1997-1999 cycle.
Long-term Cash Incentives. The Executive shall also be awarded, for each fiscal year ending during the Employment Period, a long-term cash incentive (the "Long-Term Cash Incentive") in cash at least equal to (i) the Executive's target long-term cash incentive under the Company's three-year Performance Incentive Award Plan, or any comparable bonus under any predecessor or successor plan, at the highest target rate in effect for the 12-month period immediately preceding the month in which the Effective Date occurs (the "Pre-Change Target Long-Term Incentive") less (ii) the amount (if any) of the long-term cash incentive that is paid to the Executive as a result of or in connection with the Change in Control pursuant to an award with respect to the three-year period that includes such fiscal year (each such amount, a "Change of Control Long-Term Payout"). Each such Long-Term Cash Incentive shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded.
Long-term Cash Incentives. Effective on or before the Distribution Date, the Constellation Group shall establish long-term cash incentive plans and programs for the benefit of Constellation Employees that have substantially the same terms and conditions as the long-term cash incentive plans and programs maintained by Exelon and its Subsidiaries immediately prior to the Distribution Date. Effective as of the Distribution Date, Constellation shall, or shall cause a member of the Constellation Group to, assume, and the Exelon Group shall have no liability or obligation with respect to, all long-term cash incentive benefits payable to Constellation Employees after the Distribution Date. Following the Distribution Date, the Constellation Group shall be solely responsible for administering and paying all benefits under the applicable long-term cash incentive plans and programs to such Constellation Employees, including Former Shared Services Employees who are considered Constellation Employees. Exelon shall remain solely responsible for administering and paying all benefits under the applicable long-term cash incentive plans and programs to all Exelon Employees, including Former Shared Services Employees who are considered Exelon Employees.
