Common use of Long-Term Incentive Compensation Clause in Contracts

Long-Term Incentive Compensation. Employee may, as determined by the Board (or a designated committee thereof) in its sole discretion, periodically receive grants of stock options or other equity or non-equity related awards pursuant to the Company’s long-term incentive plan(s), subject to the terms and conditions thereof. Any grants previously awarded to Employee pursuant to the Company’s long-term incentive plan(s) that are outstanding on the Effective Date hereof shall continue to be governed by the terms and conditions of such plan(s).

Long-Term Incentive Compensation. Employee may, as determined by the Board (or a designated committee thereof) in its sole discretion, periodically receive grants of stock options of, or other payments under, equity or non-equity related awards pursuant to the Company’s long-term incentive plan(s), subject to Long Term Incentive Plan (the terms and conditions thereof. Any grants previously awarded to Employee pursuant to the Company’s long-term incentive plan(s“LTIP”) that are outstanding on the Effective Date hereof shall continue to be governed by the terms and conditions of such plan(s)or any successor plan thereto.