Long Term Incentive Payments Sample Clauses

Long Term Incentive Payments. The Company has or may from time to time in the future grant to the Employee such long-term incentive compensation (including, by way of illustration but not limitation, stock options) as the Board of Directors may determine in its discretion.
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Long Term Incentive Payments. 9.1 If the Company experiences a Change in Control prior to December 9, 2018, the Company shall pay a long term incentive payment (“LTI Payment”) to the Executive based on the increase in the Company’s enterprise value, which for purposes of this agreement the initial enterprise value shall be $84 million (“Initial Enterprise Value”). For any Change in Control other than a Sale transaction, the increase in the enterprise value shall be determined by calculating an enterprise value for the most recently ended twelve (12) months by multiplying EBITDA for the most recently ended twelve (12) months by eight and subtracting the Initial Enterprise Value. For a Change in Control resulting from a Sale, the increase in the enterprise value shall be determined by subtracting the Initial Enterprise Value from the Sales Price of the Company. The LTI Payment shall be calculated by multiplying the Executive’s Base Salary by the applicable multiple reflected in Exhibit A. The LTI Payment shall be paid to the Executive on or before the Change in Control. 9.2 If the Company fails to experience a Change in Control event on, or prior to, December 9, 2018, the Company shall pay a LTI Payment to the Executive based on the increase in the Company’s enterprise value from the Initial Enterprise Value. The increase in the enterprise value shall be determined by calculating a December 31, 2018 enterprise value by multiplying EBITDA for the year ending December 31, 2018 by eight, subtracting the Initial Enterprise Value and then multiplying the sum by seventy-five percent (75%). The LTI Payment shall be calculated by multiplying the Executive’s Base Salary by the applicable multiple reflected in Exhibit A. Fifty percent (50%) of the LTI Payment shall be paid to the Executive on or before March 15, 2019, and the remaining fifty percent (50%) shall be paid on or before December 9, 2019. 9.3 If the Company experiences a Change in Control event subsequent to December 9, 2018, the Company shall pay a LTI Payment to the Executive by applying the methodology described in paragraphs 9.1. and 9.2., less any LTI Payments previously paid Executive. Any LTI Payment is due upon the Change of Control, or the closing of the Sale date, and is not dependent on the Executive continuing employment with the Company or being offered or accepting employment with the Company subsequent to the Change of Control, or Sale. 9.4 In the event that Company terminates the Executive’s employment without Cause, the...
Sample 1
Long Term Incentive Payments. (a) Executive will be eligible to receive cash payments in the amounts set forth on Exhibit A (each, an “LTIP Payment”, and collectively, the “LTIP Payments”) upon: (i) satisfaction of the service condition (each, a “Service Requirement”) set forth for each LTIP Payment on Exhibit A, or (ii) termination of the Executive’s employment by the Company without Cause or by the Executive for Good Reason (each, a “Qualifying Termination”), provided that he has remained continuously employed with the Company and/or one of its Affiliates through the date of such Qualifying Termination. For purposes of this Agreement, “Cause” and “Good Reason” shall have the meanings assigned to such terms in the Executive’s employment agreement with the Company, dated May 2, 2008, with the exception that “Cause” shall also include the Executive’s material violation of any provision of any agreement(s) between the Executive and the Company and/or its Affiliates relating to noncompetition, nonsolicitation, nondisclosure and/or assignment of inventions.
Sample 1
Long Term Incentive Payments. Any long-term incentive payment made to you for calendar year 2000 will vest on July 1, 2002, or the date that you have a Qualifying Termination, if prior to such date. Such amount, if due, will be paid to you on July 1, 2002.
Sample 1
Long Term Incentive Payments. Subject to the terms of this Agreement, during the Consulting Period, Executive shall be eligible to receive a long-term incentive cash payment for each of the three performance periods specified below in the table. The three payments will not be made pursuant to awards granted under the Xxxxx Shoe Company, Inc. Incentive and Stock Compensation Plan (the "Incentive Plan"), but the amount of each payment will be based on the achievement of the performance targets established by the Board of Directors of the Company for the corresponding performance periods under the Incentive Plan. In consideration of the foregoing, Executive acknowledges and agrees that all long-term incentive awards which have been granted to him under the Incentive Plan with respect to the performance periods specified below are hereby canceled and forfeited in all respects as of the Effective Date and the Company shall have no obligation to honor such awards. Further, Executive acknowledges that any long-term incentive cash payment to which he may be entitled under this Section 5 shall only be paid in the form of cash and not shares of Company common stock. The three long-term incentive payments that Executive is eligible to receive pursuant to this Section 5 shall be made in accordance with the following terms and conditions: Fiscal Years 99-01 Same number as originally awarded by Company pursuant to Incentive Plan for performance period Cash payment equal to (i) the number of performance shares/units earned over performance period, taking into consideration the extent to which the applicable performance targets established for the performance period under the Incentive Plan have been achieved, multiplied by (ii) the Fair Market Value (as defined in the Incentive Plan) of one share of the Company's common stock as of the date immediately preceding the date on which such cash payment is made to Executive Payment no later than April 30, 2002 Fiscal Years 00-02 Same number as originally awarded by Company pursuant to Incentive Plan for performance period Cash payment determined pursuant to same formula described above Payment no later than April 30, 2003 Fiscal Years 01-03 Same number as originally awarded by Company pursuant to Incentive Plan for performance period Cash payment determined pursuant to same formula described above Payment no later than April 30, 2004
Sample 1

Related to Long Term Incentive Payments

  • 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 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.

  • 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 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 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.

  • 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 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.

  • 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.

  • 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.

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