LTIP Cash Award. Company shall grant Executive a Long-Term Incentive --------------- Plan award of Ten Million dollars ($10,000,000.00), payable, if earned, fifty percent (50%) at the end of three years, and fifty percent (50%) at the end of five years, in each case, from the date hereof. Executive acknowledges that payments of the award are contingent and based upon Company's total shareholder return ("TSR"). Full awards will be paid if, at the end of each measurement period, the TSR is at or above the 75th percentile of the S&P 500 (excluding therefrom financial institutions). Partial awards will be paid as follows: 75% if TSR is between the 60th and 75th percentile; 50% if TSR is between the 50th and 60th percentile; and 25% if TSR is below the 50th percentile.
Appears in 2 contracts
Samples: Employment Agreement (McKesson Hboc Inc), Employment Agreement (McKesson Hboc Inc)
LTIP Cash Award. The Company shall grant has granted to Executive a Long-Term --------------- Incentive --------------- Plan award of Ten Million dollars ($10,000,000.0010,000,000), payable, if earned, fifty percent (50%) at the end of three yearsMarch 31, 2002, and fifty percent (50%) at March 31, 2004 (the end of five years, in each case, from the date hereof"LTIP Award"). Executive acknowledges that payments of the award are contingent and based upon the Company's total shareholder return ("TSR"). Full awards will be paid if, at the end of each measurement period, the TSR is at or above the 75th 75/th/ percentile of the S&P 500 (excluding therefrom financial institutions). Partial awards will be paid as follows: 75% if TSR is between the 60th 60/th/ and 75th 75/th/ percentile; 50% if TSR is between the 50th 50/th/ and 60th 60/th/ percentile; and 25% if TSR is below the 50th 50/th/ percentile.
Appears in 1 contract
LTIP Cash Award. The Company shall grant has granted to Executive a Long-Term --------------- Incentive --------------- Plan award of Ten Million dollars ($10,000,000.0010,000,000), payable, if earned, fifty percent (50%) at the end of three yearsMarch 31, 2002, and fifty percent (50%) at March 31, 2004 (the end of five years, in each case, from the date hereof"LTIP Award"). Executive acknowledges that payments of the award are contingent and based upon the Company's total shareholder return ("TSR"). Full awards will be paid if, at the end of each measurement period, the TSR is at or above the 75th percentile of the S&P 500 (excluding therefrom financial institutions). Partial awards will be paid as follows: 75% if TSR is between the 60th and 75th percentile; 50% if TSR is between the 50th and 60th percentile; and 25% if TSR is below the 50th percentile.
Appears in 1 contract
LTIP Cash Award. Company shall grant Executive a Long-Term Incentive --------------- Plan award of Ten Five Million dollars Dollars ($10,000,000.005,000,000.00), payable, if earned, fifty percent (50%) at the end of three years, and fifty percent (50%) at the end of five years, in each case, from the date hereof. Executive acknowledges that payments of the award are contingent and based upon Company's total shareholder return ("TSR"). Full awards will be paid if, at the end of each measurement period, the TSR is at or above the 75th percentile of the S&P 500 (excluding therefrom financial institutions). Partial awards will be paid as follows: 75% if TSR is between the 60th and 75th percentile; 50% if TSR is between the 50th and 60th percentile; and 25% if TSR is below the 50th percentile.
Appears in 1 contract