Long Term Incentive Payment Sample Clauses

Long Term Incentive Payment. The Executive has been granted an award with respect to 2,000 units (the “LTPP Units”) under MONY’s Long Term Performance Plan (the “LTPP”) for the 2001-2003 plan cycle. The Executive hereby waives the right to any payment of the LTPP Units under the terms of the LTPP, provided, however, that, if the Merger does not close before March 2004, the Company, in its sole discretion, may pay any earned amounts in respect of the LTPP Units. In lieu of such payment, subject to Section 4 hereof, the Executive shall receive a cash payment of $200,000.00 (less applicable tax withholdings) upon the Effective Time. In the event that, pursuant to the proviso in the second sentence of this paragraph 2, MONY elects, in its sole discretion, to make any payment in respect of the LTPP Units prior to the Effective Time, the amount of such cash payment upon the Effective Time shall be correspondingly reduced.
Sample 1Sample 2Sample 3See All (13)
AutoNDA by SimpleDocs
Long Term Incentive Payment. If the Employee is employed through December 31, 1999 or the Employee's employment is terminated prior to that date by the Company without Cause (as defined in the Retention Agreement), and if the Employee is participating in the Illinova Long Term Incentive Compensation Plan (the "Long-Term Incentive Plan"), the Company shall provide the Employee with an award for each of the three performance periods currently in effect (January 1, 1999 through December 31, 1999; January 1, 1999 through December 31, 2000; and January 1, 1999 through December 31, 2001). The determination of the performance for the periods will be determined near the end of 1999, and will be equal to the performance figures available as of the date of such determination, with such performance deemed to have continued through the end of the performance periods, as determined by the Compensation Committee of the Board of Directors of the Company. The amount of the benefit payable under this section A-2 to the Employee for each of these performance periods shall be equal to the amount that would be payable on such performance for the entire period, but subject to a pro-rata reduction to reflect the portion of the performance period after December 31, 1999, in accordance with the following schedule: -------------------------------------------------------------------------------------------------------------------- For the Performance Period: The following percent of the total award that is determined to be payable by the Company for the Performance Period shall be: -------------------------------------------------------------------------------------------------------------------- January 1, 1999 through December 31, 1999 100% -------------------------------------------------------------------------------------------------------------------- January 1, 1999 through December 31, 2000 50% -------------------------------------------------------------------------------------------------------------------- January 1, 1999 through December 31, 2001 33% -------------------------------------------------------------------------------------------------------------------- Except as provided in this section A-2, the Employee shall not be entitled to any amounts with respect to the Long-Term Incentive Plan for any period.
Sample 1See All (4)
Long Term Incentive Payment. The Executive shall be eligible for a one time, long term incentive payment at the conclusion of this three (3) year Agreement contingent upon the Company achieving certain cumulative EBITDA goals during the contract period as stated below. The long-term incentive payment, if any, shall be made as soon as administratively feasible but not later than February 15, 2011. i. If the Company achieves a cumulative EBITDA of [*****] dollars the Executive shall be granted an incentive payment of Seven-Hundred Fifty Thousand ($750,000) dollars. ii. If the Company achieves a cumulative EBITDA greater than [*****] dollars but less than [*****] dollars the Executive shall be granted an incentive payment that is prorated accordingly between the two goals. iii. If the Company achieves a cumulative EBITDA of [*****] dollars the Executive shall be granted an incentive payment of One-Million Five- Hundred Thousand ($1,500,000) dollars. iv. Additionally, if the Company achieves a cumulative EBITDA that is greater [*****] dollars, the Executive shall receive five (5%) percent of all cumulative EBITDA greater than [*****] dollars.
Sample 1
Long Term Incentive Payment. The Executive shall be eligible for a one time long term incentive payment at the conclusion of this three (3) year Agreement contingent upon the Company achieving a minimum cumulative EBITDA of [*****] dollars during the three (3) year term of this Agreement along the following payment structure: (For purposes of calculating EBITDA under this section, any insurance proceeds received by the Company and/or recovery of money and/or assets due to the theft of Company money by any employee(s) prior to the time this Agreement is executed shall not be used in calculating EBITDA.) (1) If the Company achieves a cumulative EBITDA of [*****] dollars, the Executive shall be granted a one time long term incentive payment of Seven Hundred Fifty Thousand ($750,000) dollars. (2) Additionally, for every dollar in EBITDA that the Company achieves over [*****] dollars but under [*****] dollars, the payment shall increase by sixteen and 7/1000 ($.167) cents capped at One Million ($1,000,000) dollars. (3) Additionally, for every dollar in EBITDA that the Company achieves over [*****] dollars, the payment shall increase by five ($.05) cents.
Sample 1
Long Term Incentive Payment. The Executive has been granted an award with respect to 2,000 units (the “LTPP Units”) under MONY’s Long Term Performance Plan (the “LTPP”) for the 2001-2003 plan cycle. The Executive hereby waives the right to any payment of the LTPP Units under the terms of the LTPP. In lieu of such payment, subject to Section 4 hereof, the Executive shall receive a cash payment of $200,000 (less applicable tax withholdings) upon the Effective Time. In the event that any payment in respect of the LTPP Units is made at the sole discretion of MONY prior to the Effective Time, the amount of such cash payment upon the Effective Time shall be correspondingly reduced.
Sample 1
Long Term Incentive Payment. Executive shall be eligible to receive annual grants of stock options and/or restricted stock in amounts commensurate with his position at the Company, with the amount and the terms and conditions of any such grant(s) to be determined by the Company's Compensation Committee in its sole discretion.
Sample 1
Long Term Incentive Payment. (a) Executive will be eligible to receive a payment in the amount on Exhibit A (the “LTIP Payment”) in the event (i) the Company and/or one of its Affiliates terminates the Executive’s employment without Cause, (ii) a Change of Control occurs, (iii) the Executive dies or becomes Permanently Disabled, or (iv) the fifth anniversary of the Effective Date occurs (each, a “Triggering Event”), provided that he has remained actively employed with the Company and/or one of its Affiliates through the date of such Triggering Event. (b) In addition, (i) if the Executive’s employment with the Company and/or one of its Affiliates is terminated prior to the occurrence of a Triggering Event for any reason other than an event described in Section 1(a) (an “Early Triggering Event”), the Executive shall be eligible to receive a pro rata portion of the amount on Exhibit A calculated based on (i) with respect to an Early Triggering Event other than a termination by the Company and/or one of its Affiliates with Cause, a fraction, the numerator of which equals the number of the days that have elapsed between the Effective Date and the date of termination of the Executive’s employment and the denominator of which is 1,827 (i.e., equal to the total number of days in the five-year period commencing on the Effective Date), or (ii) with respect to an Early Triggering Event based on a termination by the Company and/or one of its Affiliates with Cause, a fraction, the numerator of which equals the number of anniversaries of the Effective Date that have elapsed between the Effective Date and the date of termination of the Executive’s employment and the denominator of which is 5, and in either such case the “LTIP Payment” for all purposes of this Agreement shall be equal to the applicable pro rata portion. (c) Subject to Section 3(e), the LTIP Payment shall be paid to the Executive on the first regular payroll date of the Company that is 30 days after the date of such Triggering Event or Early Triggering Event, as the case may be, subject to the Executive signing a general release of claims in favor of the Company and its Affiliates and its and their related Persons in a form and manner satisfactory to the Company (the “Release Agreement”), and the Release Agreement and Release becoming irrevocable, all within 30 days of the Triggering Event or Early Triggering Event, as the case may be, subject to the Executive’s ongoing compliance with the Release Agreement and any ongoing post-employ...
Sample 1
AutoNDA by SimpleDocs

Related to Long Term Incentive Payment

  • 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.

  • Long-Term Incentive The Company shall provide Employee an opportunity to participate in the Company’s applicable long term incentive plan as it may or may not exist from time to time.

  • 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 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 Incentives The Company shall provide the Executive the opportunity to earn long-term incentive awards under the current equity and cash based plans and programs or replacements therefor at a level commensurate with the current aggregate opportunity being provided to the Executive.

  • Incentive Payment 11.3.1 An employer may offer and an employee may accept an early retirement incentive based on the age at retirement to be paid in the following amounts Age at Retirement % of Annual Salary at Time of Retirement 11.3.2 An employer may opt to pay the early retirement incentive in three equal annual payments over a thirty-six (36) month period. 11.3.3 Eligible bargaining unit members may opt for a partial early retirement with a pro- rated incentive.

  • Long-Term Incentive Program During the Term, the Employee shall participate in all long-term incentive plans and programs of the Group that are applicable to its senior executives in accordance with their terms and in a manner consistent with his position with the Company.

  • 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 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 Payments The Settlement Fund Administrator will treat incentive payments under Section IV.F on a State-specific basis. Incentive payments for which a Settling State is eligible under Section IV.F will be allocated fifteen percent (15%) to its State Fund, seventy percent (70%) to its Abatement Accounts Fund, and fifteen percent (15%) to its Subdivision Fund. Amounts may be reallocated and will be distributed as provided in Section V.D.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!