Management Equity Plan Sample Clauses

Management Equity Plan. On or before the Closing Date, the Company shall establish a Management Equity Plan.
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
Management Equity Plan. Section 2(d)(iii) of the Agreement is hereby amended by deleting its entirety and inserting the following in lieu thereof:
Sample 1Sample 2Sample 3
Management Equity Plan. (a) The Company has provided Consultant with the following documents: (i) an offering memorandum describing an opportunity to purchase certain units (the "A Units") in the Company's current ultimate parent, Nalco LLC (the "Management Equity Plan"), (ii) a Limited Liability Company Agreement for Nalco LLC, (iii) a Registration Rights Agreement for Nalco LLC, (iv) a Management Members Agreement for A Units and (v) a Subscription Agreement permitting Consultant the opportunity of purchasing $200,000 of A Units pursuant to the Management Equity Plan and (vi) 2004 Unit Plan (collectively the "Management Equity Plan Agreements"). Consultant may purchase $200,000 in A Units subject to the Management Equity Plan, by executing the Management Equity Plan Agreements, making the payment to Nalco LLC for $200,000 and executing this Agreement (the "Consultant A Units"). (b) Consultant acknowledges that the Management Equity Plan was initially created for employees of the Company and that the Management Equity Plan Agreements refer to the participants as employees of the Company, but that notwithstanding any such references Consultant shall not be an employee of the Company or Nalco LLC and shall not have any rights as an employee by reason of his participation in the Management Equity Plan or his execution of the Management Equity Plan Agreements. (c) In the event that Consultant elects Reduced Services pursuant to Section 2 during the Term, the Company shall have the option to purchase from Consultant a pro-rata percentage of the Consultant A Units at their then fair market value (as determined pursuant to the Management Equity Plan) where such pro-rata percentage equals the percentage reduction in Services elected by Consultant. Further, in the event Consultant elects to terminate this Agreement at his will during the Term, the Company shall have the option to purchase all of the Consultant A Units at their then fair market value. (d) These call options are in addition to the call options in the Management Equity Plan Section
Sample 1Sample 2
Management Equity Plan. We have established a management equity plan (the Plan) designed lo align the interests of management with those of the holders of our Units. Pursuant to the LLC Agreement, we initially reserved for issuance 3,175 Class B Units and 6,095 Class C Units for issuance pursuant to the Plan. Under the Plan, a management participant purchases interests in either Ripplewood Chemical Management LLC or Ripplewood Chemical Management Corporation (the Management Equity Vehicles). The Management Equity Vehicle then purchases a like number of our Units. For each Class B Unit indirectly acquired by each participant in the Plan, that participant is granted a number of Class C Units. The participant is fully vested in each of his Class B Units, but the Class C Units granted to him are subject to forfeiture, based upon a declining scale, if the participant voluntarily terminates his employment without “Good Reason” prior to the fourth anniversary of the date of grant, or terminates employment with “Good Reason,” or is terminated by us without “Cause” prior to the third anniversary of the date of grant. Participants terminated for “Cause” prior to the fourth anniversary of the date of grant forfeit all Class C Units. At December 31, 2002 and 2001, 2,220 Class B Units and 4,308 Class C Units had been issued to the Management Equity Vehicles pursuant to the Plan, which Units are included in the numbers outstanding described above. In connection with the Plan, KRATON loaned to each Plan participant up to 75% of the purchase price of the Class B Units issued to such participant. Each such loan matures in four consecutive annual installments, commencing on the fourth anniversary of the date thereof, in amounts equal to 6.67%, 6.67%, 6.67%, and 79.99% of the principal amount of the Loan on the fourth, fifth, sixth, and seventh anniversary dates of such loan, respectively. Interest accrues on such loans at the prime rate in effect at The Chase Manhattan Bank plus 0.5%. At December 31, 2002 and 2001, such loans in the principal amount of $1.4 million and $1.3 million, respectively, were outstanding and included in members’ equity.
Sample 1Sample 2
Management Equity Plan. As of the Effective Date, the Reorganized Debtors shall adopt and implement the Management Equity Plan, substantially in the form set forth in the Plan Supplement.
Sample 1Sample 2
Management Equity Plan. At the Closing, the Company shall establish the NQSOP and shall issue options to such individuals and in such amounts as set forth on Exhibit C hereto.
Sample 1
Management Equity Plan. Effective as of the Closing Date, there will be 10,000,000 authorized Holdco Common Shares, of which 393,710 Holdco Common Shares will be reserved for issuance of equity awards to certain employees, consultants and independent directors of Holdco and its Subsidiaries pursuant to a management equity compensation plan (the “Management Equity Plan”) to be established on the Closing Date, substantially in the form attached as Exhibit I hereto, as will be amended at or prior to the Closing in accordance with the provisions of the term sheet attached as Exhibit L hereto (the “Management Equity Term Sheet”). Equity awards under the Management Equity Plan in respect of 201,347 Holdco Common Shares shall be awarded upon the Closing Date to those individuals selected by board of directors of Holdco or a committee thereof.
Sample 1
AutoNDA by SimpleDocs
Management Equity Plan. If the Scheme becomes effective, the Company may invite managers to participate in the Management Equity Plan and become Management Shareholders. Eligible managers invited to participate will be issued Class C Shares – being securities issued by HoldCo designated as Class C Shares. Other provisions
Sample 1
Management Equity Plan. As of the Effective Date, or as soon as reasonably practicable thereafter, the Reorganized Debtors shall adopt and implement the Management Equity Plan, which shall include, among other things, the grant of stock options to the Reorganized Debtors’ senior management for a percentage of New Common Stock not to exceed 10% of the total voting and economic interest of the Reorganized Debtors. The awards of stock options to members of the Debtors’ senior management shall be determined by the New Board of the Reorganized Debtors, which awards may consist of, among other things, restricted stock and/or time and performance based options, and will take account of any other bonus and compensation plans. The members of management and the employees entitled to participate in the Management Equity Plan, and the awards for each, will be determined by the New Board in its sole and absolute discretion. Except as otherwise provided in the Plan, any pre-existing understandings, either oral or written, between the Debtors and any current or former director, officer, or employee as to entitlement to participate in any equity or other incentive plan of any kind existing as of the Petition Date shall be null and void as of the Effective Date and shall not be binding on the Reorganized Debtors with respect to the Management Equity Plan or any other incentive plan implemented after the Effective Date. All decisions as to entitlement to participate after the Effective Date in any new incentive plan shall be within the sole and absolute discretion of the New Board.
Sample 1

Related to Management Equity Plan

  • Equity Plan For purposes of this Agreement, “Equity Plan” means the CS Disco, Inc. 2021 Equity Incentive Plan, as amended from time to time, or any successor plan thereto.

  • Equity Plans Executive shall be entitled to participate in any equity or other employee benefit plan that is generally available to senior executive officers, as distinguished from general management, of the Company. Except as otherwise provided in this Agreement, Executive’s participation in and benefits under any such plan shall be on the terms and subject to the conditions specified in the governing document of the particular plan.

  • Incentive Plans During the Term of this Agreement, Executive shall be entitled to participate in all bonus, incentive compensation and performance based compensation plans, and other similar policies, practices, programs and arrangements of the Company, now in effect or as hereafter amended or established, on a basis that is commensurate with his position and no less favorable than those generally applicable or made available to other executives of the Company. The Executive's participation shall be in accordance with the terms and provisions of such plans and programs. Participation shall include, but not be limited to:

  • Incentive Program Members who are rated as either Level I, Level II or Level III in every phase of the Physical Fitness Test are eligible to participate in the Incentive Program.

  • Management Incentive Plan “Management Incentive Plan” shall mean the Company’s bonus program, as implemented by the Company’s board of directors from time to time and pursuant to which the Executive may receive incentive-based compensation at fiscal year end.

  • Equity Incentive Plans Each stock option granted by the Company under the Company’s equity incentive plan was granted (i) in accordance with the terms of the Company’s equity incentive plan and (ii) with an exercise price at least equal to the fair market value of the Common Stock on the date such stock option would be considered granted under GAAP and applicable law. No stock option granted under the Company’s equity incentive plan has been backdated. The Company has not knowingly granted, and there is no and has been no Company policy or practice to knowingly grant, stock options prior to, or otherwise knowingly coordinate the grant of stock options with, the release or other public announcement of material information regarding the Company or its Subsidiaries or their financial results or prospects.

  • Incentive Plan During the Term, the Employee shall be eligible for incentive compensation in accordance with the following incentive plan (the “Incentive Plan”). Shortly after the beginning of each calendar year, the Company’s Board of Directors will establish a target of the Company Net Income (as defined below) for such calendar year (the “Annual Net Income Target”). In no event shall Employee earn any amount under the Incentive Plan for any calendar year during the Term unless the actual Company Net Income for such calendar year equals or exceeds ninety percent (90%) of the Annual Net Income Target for such calendar year. The threshold referred to in the immediately preceding sentence shall hereinafter be referred to as the “Annual Net Income Threshold.” For all purposes of this Employment Agreement, “Company Net Income” shall mean the net income of the Company and its subsidiaries on a consolidated basis, determined in accordance with generally accepted accounting principles consistently applied, as adjusted to exclude (x) any extraordinary non-cash or nonrecurring non-cash charges or losses incurred by the Company and its subsidiaries other than in the ordinary course of business, including but not limited to losses or expenses resulting from redemptions or repayments of indebtedness, or modifications or amendments of the Company’s credit facility, in each case net of related tax benefit, and (y) other appropriate items as determined by the Board of Directors or the Executive Compensation Committee of the Board of Directors (the “Compensation Committee”). The amount payable under the Incentive Plan to Employee for each full calendar year during the Term shall equal the Base Salary actually paid to the Employee for such calendar year multiplied by the sum of the Department Performance Percentage and the Company Performance Percentage (as determined below) for such calendar year. Not later than March 15 of each calendar year, the maximum percentages for each of the Department Performance Percentage (the “Department Maximum Performance Percentage”) and the Company Performance Percentage (the “Company Maximum Performance Percentage”) shall be established by the Compensation Committee for such calendar year within a range of forty percent (40%) and sixty percent (60%); provided that the sum of such percentages shall equal one hundred percent (100%) each calendar year. If the Compensation Committee shall not timely establish either or both of the Department Maximum Performance Percentage or the Company Maximum Performance Percentage for the calendar year 2008, each of such percentages shall be fifty percent (50%). If the Compensation Committee shall not timely establish either or both of the Department Maximum Performance Percentage or the Company Maximum Performance Percentage for any future calendar year during the Term, the respective percentages that were applicable for the prior calendar year shall apply for such calendar year. The sum of the Department Performance Percentage and the Company Performance Percentage for each calendar year shall be referred to herein as the “Incentive Percentage.” For each calendar year the maximum Incentive Percentage shall be one hundred percent (100%).

  • Equity Incentive Plan The Option is a Nonqualified Option and subject to each and every provision of the Equity Incentive Plan which are incorporated by reference herein, as well as the terms and provisions set forth in this Stock Option Agreement and Notice of Grant (this “Stock Option Agreement”). The Equity Incentive Plan shall govern and be conclusive as to all matters not expressly provided for in this Stock Option Agreement. In the event of any conflict between the terms of this Stock Option Agreement and the Equity Incentive Plan, the terms of this Stock Option Agreement shall govern. All capitalized terms contained herein which are not otherwise defined herein shall have the meanings ascribed to them in the Equity Incentive Plan. By accepting the Option you agree to be bound by the provisions of the Equity Incentive Plan and this Stock Option Agreement. A copy of the Equity Incentive Plan has been previously provided to you.

  • Long-Term Incentive Plans During the Employment Period, the Executive shall be eligible to participate in any long term incentive compensation plan maintained by the Company on the terms established from time to time by the Board or the Compensation Committee of the Board, as applicable.

  • Long Term Incentive Plan The Executive shall be entitled to participate in the Company’s long-term incentive plan in accordance with its terms that may be in effect from time to time and subject to such other terms as the Board, in its sole discretion, may approve.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!