Common use of MICP Clause in Contracts

MICP. The Plan Amount in respect of the Company's Management Incentive Compensation Plans ("MICP") shall consist of an amount equal to the sum of all amounts awarded to the Executive under, but deferred pursuant to, the MICP as of the date of the Change of Control and all amounts equivalent to interest creditable thereon up to the date that the Plan Amount is paid. Upon receipt of that Plan Amount, the Executive shall waive his rights to receive any amounts under the MICP that were deferred prior to the Change of Control and any interest equivalents thereon.

Appears in 2 contracts

Samples: Employment Agreement (Interpublic Group of Companies Inc), Severance Agreement (Interpublic Group of Companies Inc)

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MICP. The Plan Amount in respect of the Company's Management Incentive Compensation Plans ("MICP") shall MICP")shall consist of an amount equal to the sum of all amounts awarded to the Executive under, but deferred pursuant to, the MICP as of the date of the Change of Control and all amounts equivalent to interest creditable thereon up to the date that the Plan Amount is paid. Upon receipt of that Plan Amount, the Executive shall waive his rights to receive any amounts under the MICP that were deferred prior to the Change of Control and any interest equivalents thereon.

Appears in 1 contract

Samples: Executive Severance Agreement (Interpublic Group of Companies Inc)

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MICP. The Plan Amount in respect of the Company's ' s Management Incentive Compensation Plans ("MICP") shall consist of an amount equal to the sum of all amounts awarded to the Executive under, but deferred pursuant to, the MICP as of the date of the Change of Control and all amounts equivalent to interest creditable thereon up to the date that the Plan Amount is paid. Upon receipt of that Plan Amount, the Executive shall waive his rights to receive any amounts under the MICP that were deferred prior to the Change of Control and any interest equivalents thereon.

Appears in 1 contract

Samples: Employment Agreement (Interpublic Group of Companies, Inc.)

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