Common use of Long Term Incentive Plan Clause in Contracts

Long Term Incentive Plan. During the Term, the Executive shall participate in the Company's Long Term Incentive Plan ("LTIP"), which shall be adopted by the Effective Date. The Executive will receive 7% of the "LTIP bonus pool," as defined in and in accordance with the LTIP (which will include a provision that the LTIP bonus pool will be 20% of Consolidated EBITDA achieved by SPI in excess of the target Consolidated EBITDA). If the Term is extended, the Executive shall participate in a new Long Term Incentive Plan that shall commence after the LTIP ends. Notwithstanding the foregoing, to the extent that Section 162(m) of the Code may be applicable, the LTIP (and any subsequent Long Term Incentive Plan) shall be subject to, and contingent upon, such shareholder approval as is necessary to cause the LTIP to qualify as "performance-based compensation" under Section 162(m) of the Code and the regulations promulgated thereunder.

Appears in 4 contracts

Samples: Employment Agreement (B2 Direct, Inc.), Employment Agreement (B2 Direct, Inc.), Employment Agreement (B2 Direct, Inc.)

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Long Term Incentive Plan. During the Term, the Executive shall participate in the Company's ’s Long Term Incentive Plan ("‘‘LTIP"’’), which shall be adopted by the Effective Date. The Executive will receive 750% of the "‘‘LTIP bonus pool," ’’ as defined in in, and in accordance with with, the LTIP (which will include a provision that the LTIP bonus pool will be 20% of Consolidated EBITDA achieved by SPI the Company in excess of the target Consolidated EBITDA). If the Term is extended, the Executive shall participate in a new Long Term Incentive Plan that shall commence after the LTIP ends. Notwithstanding the foregoing, to the extent that Section 162(m) of the Code may be applicable, the LTIP (and any subsequent Long Term Incentive Plan) shall be subject to, and contingent upon, such shareholder approval as is necessary to cause the LTIP to qualify as "‘‘performance-based compensation" ’’ under Section 162(m) of the Code and the regulations promulgated thereunder.

Appears in 2 contracts

Samples: Employment Agreement (Clarke American Corp.), Employment Agreement (M & F Worldwide Corp)

Long Term Incentive Plan. During the Term, the Executive shall participate in the Company's Long Term Incentive Plan ("LTIP"), ) of MFW which shall be adopted by the Effective Dateestablished and become effective as of January 1, 2008. The Executive will receive 750% of the "LTIP bonus poolpool attributed to HFS," as defined in in, and in accordance with with, the LTIP. Further details regarding participation in the LTIP (which will include a provision that the LTIP bonus pool will be 20% of Consolidated EBITDA achieved by SPI in excess of the target Consolidated EBITDA)are set forth on ANNEX A attached hereto. If the Term is extended, the Executive shall participate in a new Long Term Incentive Plan that shall commence after the LTIP ends. Notwithstanding the foregoing, to the extent that Section 162(m) of the Code may be applicable, the LTIP (and any subsequent Long Term Incentive Plan) shall be subject to, and contingent upon, such shareholder approval as is necessary to cause the LTIP to qualify as "performance-based compensation" under Section 162(m) of the Code and the regulations promulgated thereunder.

Appears in 1 contract

Samples: Employment Agreement (M & F Worldwide Corp)

Long Term Incentive Plan. During the Term, the Executive shall participate in the Company's Long Term Incentive Plan ("LTIP"), ) of MFW which shall be adopted by the Effective Dateestablished and become effective as of January 1, 2008. The Executive will receive 780% of the "LTIP bonus poolpool attributed to Scantron," as defined in in, and in accordance with with, the LTIP. Further details regarding participation in the LTIP (which will include a provision that the LTIP bonus pool will be 20% of Consolidated EBITDA achieved by SPI in excess of the target Consolidated EBITDA)are set forth on ANNEX A attached hereto. If the Term is extended, the Executive shall participate in a new Long Term Incentive Plan that shall commence after the LTIP ends. Notwithstanding the foregoing, to the extent that Section 162(m) of the Code may be applicable, the LTIP (and any subsequent Long Term Incentive Plan) shall be subject to, and contingent upon, such shareholder approval as is necessary to cause the LTIP to qualify as "performance-based compensation" under Section 162(m) of the Code and the regulations promulgated thereunder.

Appears in 1 contract

Samples: Employment Agreement (M & F Worldwide Corp)

Long Term Incentive Plan. During the Term, the Executive shall participate in the CompanySPI's Long Term Incentive Plan ("LTIP"), which shall be adopted by the Effective Date. The Executive will receive 750% of the "LTIP bonus pool," as defined in in, and in accordance with with, the LTIP (which will include a provision that the LTIP bonus pool will be 20% of Consolidated EBITDA achieved by SPI in excess of the target Consolidated EBITDA). If the Term is extended, the Executive shall participate in a new Long Term Incentive Plan that shall commence after the LTIP ends. Notwithstanding the foregoing, to the extent that Section 162(m) of the Code may be applicable, the LTIP (and any subsequent Long Term Incentive Plan) shall be subject to, and contingent upon, such shareholder approval as is necessary to cause the LTIP to qualify as "performance-based compensation" under Section 162(m) of the Code and the regulations promulgated thereunder.

Appears in 1 contract

Samples: Employment Agreement (M & F Worldwide Corp)

Long Term Incentive Plan. During the Term, the Executive shall participate in the Company's ’s Long Term Incentive Plan ("‘‘LTIP"’’), which shall be adopted by the Effective Date. The Executive will receive 710% of the "‘‘LTIP bonus pool," ’’ as defined in and in accordance with the LTIP (which will include a provision that the LTIP bonus pool will be 20% of Consolidated EBITDA achieved by SPI the Company in excess of the target Consolidated EBITDA). If the Term is extended, the Executive shall participate in a new Long Term Incentive Plan that shall commence after the LTIP ends. Notwithstanding the foregoing, to the extent that Section 162(m) of the Code may be applicable, the LTIP (and any subsequent Long Term Incentive Plan) shall be subject to, and contingent upon, such shareholder approval as is necessary to cause the LTIP to qualify as "‘‘performance-based compensation" ’’ under Section 162(m) of the Code and the regulations promulgated thereunder.

Appears in 1 contract

Samples: Employment Agreement (Clarke American Corp.)

Long Term Incentive Plan. During the Term, the Executive shall participate in the Company's Long Term Incentive Plan ("LTIP"), which shall be adopted by the Effective Date. The Executive will receive 710% of the "LTIP bonus pool," as defined in and in accordance with the LTIP (which will include a provision that the LTIP bonus pool will be 20% of Consolidated EBITDA achieved by SPI in excess of the target Consolidated EBITDA). If the Term is extended, the Executive shall participate in a new Long Term Incentive Plan that shall commence after the LTIP ends. Notwithstanding the foregoing, to the extent that Section 162(m) of the Code may be applicable, the LTIP (and any subsequent Long Term Incentive Plan) shall be subject to, and contingent upon, such shareholder approval as is necessary to cause the LTIP to qualify as "performance-based compensation" under Section 162(m) of the Code and the regulations promulgated thereunder.

Appears in 1 contract

Samples: Employment Agreement (B2 Direct, Inc.)

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Long Term Incentive Plan. During the Term, the Executive shall participate in the Company's ’s 2005 Long Term Incentive Plan ("‘‘LTIP"’’), which shall be adopted by the Effective Date. The Executive will receive 712% of the "‘‘LTIP bonus pool," ’’ as defined in and in accordance with the LTIP (which will include a provision that the LTIP bonus pool will be 20% of Consolidated EBITDA achieved by SPI CAC in excess of the target Consolidated EBITDA). If the Term is extended, the Executive shall participate in a new Long Term Incentive Plan that shall commence after the LTIP ends. Notwithstanding the foregoing, to the extent that Section 162(m) of the Code may be applicable, the LTIP (and any subsequent Long Term Incentive Plan) shall be subject to, and contingent upon, such shareholder approval as is necessary to cause the LTIP to qualify as "‘‘performance-based compensation" ’’ under Section 162(m) of the Code and the regulations promulgated thereunder.

Appears in 1 contract

Samples: Employment Agreement (Clarke American Corp.)

Long Term Incentive Plan. During the Term, the Executive shall participate in the Company's 2005 Long Term Incentive Plan ("LTIP"), which shall be adopted by the Effective Date. The Executive will receive 712% of the "LTIP bonus pool," as defined in and in accordance with the LTIP (which will include a provision that the LTIP bonus pool will be 20% of Consolidated EBITDA achieved by SPI CAC in excess of the target Consolidated EBITDA). If the Term is extended, the Executive shall participate in a new Long Term Incentive Plan that shall commence after the LTIP ends. Notwithstanding the foregoing, to the extent that Section 162(m) of the Code may be applicable, the LTIP (and any subsequent Long Term Incentive Plan) shall be subject to, and contingent upon, such shareholder approval as is necessary to cause the LTIP to qualify as "performance-based compensation" under Section 162(m) of the Code and the regulations promulgated thereunder.

Appears in 1 contract

Samples: Employment Agreement (B2 Direct, Inc.)

Long Term Incentive Plan. During the Term, the Executive shall participate in the Company's ’s Long Term Incentive Plan ("‘‘LTIP"’’), which shall be adopted by the Effective Date. The Executive will receive 721% of the "‘‘LTIP bonus pool," ’’ as defined in and in accordance with the LTIP (which will include a provision that the LTIP bonus pool will be 20% of Consolidated EBITDA achieved by SPI the Company in excess of the target Consolidated EBITDA). If the Term is extended, the Executive shall participate in a new Long Term Incentive Plan that shall commence after the LTIP ends. Notwithstanding the foregoing, to the extent that Section 162(m) of the Code may be applicable, the LTIP (and any subsequent Long Term Incentive Plan) shall be subject to, and contingent upon, such shareholder approval as is necessary to cause the LTIP to qualify as "‘‘performance-based compensation" ’’ under Section 162(m) of the Code and the regulations promulgated thereunder.

Appears in 1 contract

Samples: Employment Agreement (Clarke American Corp.)

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