LTIP Eligibility Clause Samples

LTIP Eligibility. Executive will be eligible to participate in the Company’s Long Term Incentive Plan(s), subject always to the approval of the Company’s Board of Directors.

LTIP Eligibility. During the Term, the Executive shall be eligible to participate in the Company’s long-term incentive plan (“LTIP”) as defined and determined by the Board and approved during the 2024 Annual Shareholders Meeting or similar such plans as designed by Board. Beginning at the start of the Company’s 2026 fiscal year, the Executive’s annual target LTIP award shall be $3,000,000 (the “Target LTIP”), with the actual amount of his LTIP, if any, to be determined by the Board, in accordance with the Executive’s performance against performance objectives for Executive and for the Company set by the Board and as defined in the Company’s LTIP. The Target LTIP may be adjusted from time to time in the Board’s sole discretion. Other than as provided for in specific LTIP award agreements for each individual LTIP award, the Executive, in order to be eligible to earn an annual award for any fiscal year occurring during the Term hereof, must be employed on the date payment of such award is made to Company executives generally.