LTI Awards. Subject to Section 7.16 below, for each fiscal year ending during the Term, the Employee shall be eligible to receive an annual long term incentive (LTI) award pursuant to the 2010 Plan with a target gross amount of fifty percent (50%) of the Employee’s annualized Base Salary (as in effect as of the beginning of the applicable fiscal year), subject to market evaluation and adjustment of such target amounts at the discretion of the Committee.
LTI Awards. On each of the six month, eighteen month and thirty month anniversaries of the Commencement Date, Executive will receive an amount equal to the Target Award for the LTI Award for the Performance Period scheduled to end on the last day of the Year of Termination. Notwithstanding the foregoing, in the event that Executive’s Termination of Employment occurs after December 31, 2009, then Executive shall not be entitled to any of the amounts set forth in this Subsection.
LTI Awards. Each calendar year during the Term (including 2021), Employee shall be eligible for an annual long-term incentive award (each, an “LTI Award”) under Parent’s then-current equity incentive plan, granted at the same time as LTI Awards are granted to other senior executives of Parent (it currently being intended that such grants will be made in the first quarter of each calendar year). For 2021, Employee’s LTI Award will have an annual aggregate grant date fair value of $300,000 (including an additional $100,000 to be granted in connection with the Promotion Date) with vesting schedules and performance goals consistent with those established for other senior executives of the Parent and subject to the terms and conditions of an applicable award agreement; it being understood that Executive’s additional $100,000 LTI Award will be 50% time based and 50% performance based in a manner consistent with the other EVPs of the Company.
LTI Awards. Except with respect to the Retention Awards set forth in Section 5.11(c), Yahoo shall retain all liabilities in respect of and in accordance with the terms of each long-term cash incentive or bonus award granted to any Transitioned Employee that is outstanding as of the applicable Transition Date (each, a “Yahoo LTI Award”), whether or not such Yahoo LTI Award is vested as of the applicable Transition Date. For purposes of such Yahoo LTI Awards only, such Transitioned Employees shall be treated as though involuntarily terminated by Yahoo without cause (or as a result of retirement, as applicable) upon the applicable Transition Date with respect to the accelerated vesting provisions of the Yahoo LTI Awards and Yahoo shall be solely responsible for any liabilities relating to such accelerated vesting (or related accelerated payment).
LTI Awards. On or effective as of the Start Date, Executive will be granted a long-term incentive award consisting of (1) restricted stock units (“RSUs”) with respect to 150,000 shares of Common Stock and (2) market stock units (“MSUs”) with respect to 150,000 shares of Common Stock (at target). The MSUs will be issued pursuant to the Company’s Second Amended and Restated 2014 Stock Incentive Plan. The RSUs and MSUs will be subject to the terms and conditions set forth in the respective award agreements.
LTI Awards. Prior to the Closing Date, any and all outstanding incentive awards (the “LTI Awards”) previously granted to you under the Albemarle Corporation 2017 Incentive Plan (the “Plan”) shall continue in effect, subject to the terms and conditions of the LTI Awards and the Plan. Notwithstanding anything to the contrary in the applicable award agreement for the LTI Award, subject to your execution and non-revocation of this Agreement (including the release of claims in Section 6), your continuing compliance with the terms of this Agreement through the Closing Date and the review and approval of the Compensation Committee of the Board of Directors in accordance with the requirements of Section 16, and if you are employed by the Company on the Closing Date and remain employed by the Company or the Purchaser until the date twelve (12) months following the Closing Date, or, if earlier, the date you are terminated without Cause by the Company or the Purchaser (the date twelve (12) months following the Closing Date or of such termination without Cause, as applicable, your “Retention Date”), your LTI Awards shall be treated as follows subject to and upon the closing of the Transaction:
LTI Awards. Provided that any applicable performance goals under any outstanding unvested long-term incentive awards other than stock options (the “LTI Awards”) are satisfied in accordance with the terms of each such award, (i) Executive shall be fully vested in any LTI Award granted in any calendar year prior to the calendar year in which Executive’s employment is terminated; and (ii) Executive shall be vested in a pro-rated portion of any LTI Award granted in the calendar year in which Executive’s employment is terminated. The amount of any pro-rated LTI Award shall be determined by multiplying (x) the payment that would have been made under the award had Executive’s employment been continued through the entire vesting period under the award by (y) a fraction, the numerator of which is the number of whole months elapsed in the calendar year prior to the termination of Executive’s employment, and the denominator of which is twelve (12). Any payment in respect of an LTI Award shall be made at time payment would have been made had Executive’s employment not terminated.
LTI Awards. Section 3(c)(i) of the Agreement is amended to reflect that Executive’s LTI Awards granted each fiscal year during the Term shall have an aggregate value of not less than 750% of the amount of Executive’s then current Base Salary, and shall otherwise be determined in accordance with the provisions of Section 3(c)(i) of the Agreement.
LTI Awards. You will continue to have all rights under your existing long-term equity incentive awards, subject to the terms and conditions of such awards under the Xxxxxx 2012 Equity Incentive Plan and the applicable equity award agreements. For your services during 2016 and subject to your continued employment through at least May 15, 2016 (except as provided in Section 4 below), you shall receive, in lieu of your annual equity incentive award under your Employment Agreement, a fixed cash payment representing the amount of your $900,000 target annual long-term incentive award prorated through the Termination Date, with such amount payable on the first business day on or after the 30th day following the Termination Date.
LTI Awards. You will not be eligible to receive any further long-term incentive awards. You will continue to vest in your outstanding long-term incentive awards during your employment with TE.
