Long Term Compensation Plan Sample Clauses
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Long Term Compensation Plan. (s). Executive shall be eligible to participate in the Company's Long Term Compensation Plan(s), as established by the Board or its Compensation Committee, and as modified from time to time. In addition, immediately upon establishment of an equity compensation plan, Executive shall receive (i) an initial grant of 90,000 restricted shares of the Company's common stock, with all restrictions lapsing in one-third increments on each of July 31, 2006, 2007, 2008, and (ii) an initial stock option grant of 300,000 shares, with a price equal to the fair market value of the shares on the date of grant, vesting as to 100,000 of such shares on each of July 31, 2008, 2009 and 2010. All awards are subject to the terms of the Company's Plans, and their administrative regulations as these may be amended from time to time, including a requirement that Executive be employed by the Company on each vesting date except as otherwise provided below. If such a plan is not established by any vesting date specified above, or as otherwise set forth in this Agreement, Executive shall be entitled to receive an alternative cash award within 15 days of any such vesting date in an amount equal to the then value of each share that would have then vested, plus the intrinsic value of each option (i.,e. the then fair market value of a share less the fair market value of a share on the date of execution of this Agreement, the result then multiplied by the number of options that would have then vested).
Long Term Compensation Plan. Executive shall be entitled to participate in a long-term compensation plan which will be multi-year performance based over a number of years starting with the first contract year. It is the intention of the Employer to pay the Executive on an incentive basis to be determined by the Compensation Committee of the Board of Directors under a performance based plan after a number of years stipulated by the Board of Directors.
Long Term Compensation Plan. During the Period of Employment, the Executive shall be eligible to participate in the Company’s Long-Term Compensation Program (as it may be amended from time to time, the “Program”) on terms and conditions no less favorable than those provided generally to the other similarly situated officers of the Company, for so long as the same may be in effect. For the cycle beginning in the 2013 fiscal year, the Executive’s level of participation in the Program shall be a target payout of $300,000, pursuant to the terms and conditions of the Program. Any awards earned pursuant to the Program shall be subject to the terms and conditions of the Program. The Company reserves the right to change or eliminate the Program at any time, without prior notice to or the consent of the Executive.
Long Term Compensation Plan. The Board is considering a plan to provide for long term equity incentive compensation for employees, directors and consultants to the Company. The plan is subject to final Board and member approval. Employee will be eligible to participate if and when such a plan becomes effective.
Long Term Compensation Plan. Employee shall be eligible to participate in the Company’s Long Term Compensation Program as it may be amended from time to time for so long as the same may be in effect (“Program”). Employee’s level of participation in the Program shall be 80% of annual base salary effective for the cycles starting as of 2012, pursuant to the terms and conditions of the Program. In the event of termination, as described below in Section 9 and its subparts, Employee’s eligibility for payments or awards will be governed by the terms and conditions of the Program.
Long Term Compensation Plan. Employee shall be eligible to participate in the Company's Long-Term Compensation Plan ("LTCP"), as it may be amended from time to time in the Company's sole discretion. Employee's initial target level shall be 80% of Base Salary, subject to the vesting, payment and other provisions of the LTCP.
Long Term Compensation Plan. Employee shall be eligible to participate in the Company’s Long Term Compensation Program as it may be amended from time to time for so long as the same may be in effect (“Program”). Employee’s eligibility for an LTIP cash bonus and Restricted Stock Unit award under the Program shall be 80% of Base Salary effective upon the next applicable cash and Restricted Stock Unit cycles.
Long Term Compensation Plan. 5.1 Subject to the approval of the Board of Directors, Executive shall be granted, within 60 days from the commencement of her employment, a grant of 50,000 Units in the Long-term Compensation Plan of TouchTunes Music Corporation ("the Plan").
5.2 The Units shall vest over a four-year period in equal annual installments.