Long-Term Incentive Awards; Supplemental Award Sample Clauses

Long-Term Incentive Awards; Supplemental Award. (a) During the Term for fiscal year 2008 and thereafter, provided the Executive is employed by the Company, the Executive shall be eligible to participate in the Company’s 2003 and 2005 Stock Incentive Plans, as amended from time to time, or such other long-term incentive plan(s) as may be approved by the Company’s shareholders from time to time (“Stock Incentive Plan”), with grants under such plan(s) having an annual grant date target value, in the aggregate, equal to no less than 100% of total cash compensation (Base Salary plus Target Bonus). For this purpose, Base Salary shall be the annualized rate of salary in effect on the date of the award and Target Bonus shall be the Target Bonus for the year in which the award is made. Awards under any Stock Incentive Plan shall be made at such times as awards are generally made to the Company’s senior executives. The Board shall have the discretion to decide the form of any equity award (whether it is awarded in restricted stock, stock options, other type of equity or a combination thereof). Any stock option award shall be valued on the basis of Black-Scholes or the valuation formula used by the Company in reporting such compensation in its filings with the Securities and Exchange Commission. Except as otherwise expressly provided herein, all equity grants shall be governed by the applicable Stock Incentive Plan and/or award agreement. The Executive shall be subject to the equity ownership, retention and other requirements applicable to senior executives of the Company. (b) During the Term for fiscal year 2008 and thereafter, provided the Executive is employed by the Company, the Executive shall be entitled to an annual award with an aggregate grant date value equal to 30% of the total current cash compensation (Base Salary plus Annual Bonus) (“Supplemental Award”). For this purpose, Base Salary shall be the Base Salary paid to the Executive for the prior fiscal year and Annual Bonus shall be the annual bonus awarded to the Executive by the Board for the prior fiscal year. The Supplemental Award shall not be awarded to the Executive until after the determination by the Board of the Executive’s Annual Bonus for the prior fiscal year (but in no event later than 30 days thereafter) and shall be awarded in the form of restricted stock units (payable in shares of the Company’s common stock (“Shares”)) pursuant to the Stock Incentive Plan (“Career Units”). Any Career Units shall be governed by the applicable Stock In...
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Related to Long-Term Incentive Awards; Supplemental Award

  • 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.

  • 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.

  • 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.

  • Equity Incentive Awards The Executive shall be eligible to receive grants of equity-based long-term incentive awards, which may include options to purchase Company stock, performance or restricted stock units and Company restricted stock contributions to Company’s deferred compensation plan, or other equity-based awards. Such awards shall be determined in the discretion of the Board and the Executive shall be eligible for consideration for such awards in the same manner as other senior executive officers of the Company. In the event of a Change of Control in which the surviving or acquiring corporation does not assume the Executive’s outstanding equity-related awards (including options and equity-based awards granted both before and after the Effective Date) or substitute similar equity-related awards of substantially equivalent value, such equity-related awards shall immediately vest and become exercisable if the Executive’s service with the Company has not terminated before the effective date of the Change of Control; provided, however, that the foregoing provision shall only apply if the Company is not the surviving corporation or if shares of the Company’s common stock are converted into or exchanged for other securities or cash.

  • 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.

  • 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 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.

  • Incentive Awards a) The Executive shall participate in the Company's annual incentive plan for senior-level executives as in effect from time to time, subject to the performance standards set by the Compensation Committee. Payment of any annual incentive award shall be made at the same time that such awards are paid to other senior-level executives of the Company. The Executive's annual incentive award target shall be set by the Compensation Committee. b) The Executive shall be eligible to receive grants under the Company's long-term incentive plans as in effect from time to time; provided, however, that the size, type and other terms and conditions of any such grant to the Executive shall be determined by the Compensation Committee.

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