LTIP Awards. Any awards granted to Employee under the LTIPs as of the Change of Control shall be treated as described in the LTIPs.
LTIP Awards. Executive shall be eligible to receive awards under the LTIP, as determined by the Board based upon the recommendation of the Compensation Committee. For purposes hereof, “LTIP” means Company’s Amended and Restated Long-Term Incentive Plan, effective on June 18, 2010, and if hereafter further amended by Company then as hereafter so further amended.
LTIP Awards. LTIP Units may, in the sole discretion of the General Partner, be issued subject to vesting, forfeiture and additional restrictions on transfers pursuant to the terms of an OPP Agreement. The terms of any OPP Agreement may be modified by the General Partner from time to time in its sole discretion, subject to any restrictions on amendment imposed by the relevant OPP Agreement pursuant to which such LTIP Award was issued. LTIP Units that have vested under the terms of an OPP Agreement are referred to as “Vested LTIP Units”; all other LTIP Units shall be treated as “Unvested LTIP Units.”
LTIP Awards. Awards under the LTIP shall be granted to Executive with aggregate target opportunities not less than those granted to peer executives of the Company.
LTIP Awards. LTIP Units may, in the sole discretion of the Managing Member, be issued subject to vesting, forfeiture and additional restrictions on transfers pursuant to the terms of the OPP. The terms of the OPP may be modified by the Managing Member from time to time in its sole discretion, subject to any restrictions on amendment imposed by the OPP. LTIP Units that have vested under the terms of the OPP are referred to as “Vested LTIP Units”; all other LTIP Units shall be treated as “Unvested LTIP Units.”
LTIP Awards. Any awards granted to Employee under the LTIP as of the effective date of the Change of Control shall be treated as described in the LTIP. Without limiting the foregoing, the existing LTIP provides (or shall be deemed to provide) that if, in anticipation or contemplation of a pending or potential Change of Control or while a potential Change of Control is under consideration or being negotiated by the Company’s board of directors, the Employee terminates his employment for Good Reason pursuant to Section 6.1(b) or the Company terminates Employee’s employment without Cause pursuant to Section 6.2(c), Employee shall be deemed to remain an employee for purposes of the LTIP as of the effective date of such Change of Control and shall receive a full payout under the LTIP as described in Section 3.3 of this Agreement as though he remained an employee of the Company as of the effective date of such Change of Control.
LTIP Awards. You shall be entitled to cash LTIP awards equal to (i) $100,000 which shall be due November 14, 2009, and (ii) $45,000 which shall be due on November 14, 2010. If you leave the Company voluntarily without Good Reason, payments scheduled after your termination date will not be due. In the event of an involuntary termination without Cause, any unpaid amounts would become immediately payable. Payments will also accelerate and be due upon a Change of Control of the Company or your termination for Good Reason.
LTIP Awards. LTIP Awards shall be granted to Executive at least as frequently as LTIP Awards were granted to Executive during the three-year period immediately preceding the Effective Date, with target payments no less than the average (expressed as a percentage of Executive’s Base Salary in effect at the beginning of the applicable Performance Period) of the targets applicable with respect to the Executive’s LTIP Awards outstanding immediately prior to the Effective Date, and with target performance goals that are not substantially more difficult to obtain, on average, than the target performance goals under Executive’s LTIP Awards outstanding on the Effective Date;
LTIP Awards. As of the Effective Date, the Board will grant to Executive the following awards under the Regency Gas Long Term Incentive Plan (“LTIP”): a grant of 56,300 Restricted Units substantially in the form of the grant agreement attached hereto as Attachment A; and a grant of 50,000 Restricted Units substantially in the form of the grant agreement attached hereto as Attachment B.
LTIP Awards. Full vesting of all outstanding equity awards granted under the LTIP to the Executive, which vested awards shall remain exercisable for a period of three years following the Date of Termination. Notwithstanding the foregoing, if a Change in Control (as defined in the LTIP) occurs prior to the Date of Termination, the Executive shall receive full accelerated vesting with respect to all outstanding awards granted under the LTIP immediately prior to such Change in Control.
