Common use of Other Short Term Incentive Plans Clause in Contracts

Other Short Term Incentive Plans. The provisions of this Section 2.2(h) shall apply to Xx. Xxxxxxx to the extent that he, as of the date of the Change in Control, is a participant in any other “short term incentive compensation plan” not otherwise previously referred to in this Section 2.2. Provided Xx. Xxxxxxx is not otherwise entitled to a plan payout under any change in control provisions of such plans, if the “short term incentive compensation plan” is in place through Xx. Xxxxxxx’x Separation Date and to the extent Xx. Xxxxxxx is entitled to participate therein, Xx. Xxxxxxx shall be entitled to receive cash in an amount equal to his award under the Company’s “short term incentive compensation plan” for the annual performance period in which the Separation Date shall have occurred, at Xx. Xxxxxxx’x target performance level and prorated by the number of months which have passed since the beginning of the annual performance period until the Separation Date. For purposes of this Section 2.2(h), the term “short term incentive compensation plan” shall mean any incentive compensation plan or arrangement adopted in writing by the Company which provides for annual, recurring compensatory bonuses to participants based upon articulated performance criteria, and which have been identified by the Compensation Committee and listed on Exhibit B hereto, which may be amended from time to time to reflect plan additions, terminations and amendments.

Appears in 3 contracts

Samples: Change in Control Agreement (Southern Power Co), Change in Control Agreement (Southern Power Co), Change in Control Agreement (Southern Power Co)

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Other Short Term Incentive Plans. The provisions of this Section 2.2(h) shall apply to Xx. Xxxxxxx Xxxxxx to the extent that he, as of the date of the Change in Control, is a participant in any other “short term incentive compensation plan” not otherwise previously referred to in this Section 2.2. Provided Xx. Xxxxxxx Xxxxxx is not otherwise entitled to a plan payout under any change in control provisions of such plans, if the “short term incentive compensation plan” is in place through Xx. Xxxxxxx’x Xxxxxx’ Separation Date and to the extent Xx. Xxxxxxx Xxxxxx is entitled to participate therein, Xx. Xxxxxxx Xxxxxx shall be entitled to receive cash in an amount equal to his award under the Company’s “short term incentive compensation plan” for the annual performance period in which the Separation Date shall have occurred, at Xx. Xxxxxxx’x Xxxxxx’ target performance level and prorated by the number of months which have passed since the beginning of the annual performance period until the Separation Date. For purposes of this Section 2.2(h), the term “short term incentive compensation plan” shall mean any incentive compensation plan or arrangement adopted in writing by the Company which provides for annual, recurring compensatory bonuses to participants based upon articulated performance criteria, and which have been identified by the Compensation Committee and listed on Exhibit B hereto, which may be amended from time to time to reflect plan additions, terminations and amendments.

Appears in 1 contract

Samples: Change in Control Agreement (Southern Power Co)

Other Short Term Incentive Plans. The provisions of this Section 2.2(h) shall apply to Xx. Xxxxxxx XxXxxxx to the extent that he, as of the date of the Change in Control, is a participant in any other “short term incentive compensation plan” not otherwise previously referred to in this Section 2.2. Provided Xx. Xxxxxxx XxXxxxx is not otherwise entitled to a plan payout under any change in control provisions of such plans, if the “short term incentive compensation plan” is in place through Xx. Xxxxxxx’x XxXxxxx’x Separation Date and to the extent Xx. Xxxxxxx XxXxxxx is entitled to participate therein, Xx. Xxxxxxx XxXxxxx shall be entitled to receive cash in an amount equal to his award under the Company’s “short term incentive compensation plan” for the annual performance period in which the Separation Date shall have occurred, at Xx. Xxxxxxx’x XxXxxxx’x target performance level and prorated by the number of months which have passed since the beginning of the annual performance period until the Separation Date. For purposes of this Section 2.2(h), the term “short term incentive compensation plan” shall mean any incentive compensation plan or arrangement adopted in writing by the Company which provides for annual, recurring compensatory bonuses to participants based upon articulated performance criteria, and which have been identified by the Compensation Committee and listed on Exhibit B hereto, which may be amended from time to time to reflect plan additions, terminations and amendments.

Appears in 1 contract

Samples: Change in Control Agreement (Southern Power Co)

Other Short Term Incentive Plans. The provisions of this Section 2.2(h) shall apply to Xx. Xxxxxxx Mr. Bowers to the extent that he, as of the date of the Change in Xxxxxx xx Control, is a participant in any other "short term incentive compensation plan" not otherwise previously referred to in this Section 2.2. Provided Xx. Xxxxxxx Mr. Bowers is not otherwise entitled to a plan payout under any change unxxx xxx xxange in control provisions of such plans, if the "short term incentive compensation plan" is in place through Xx. Xxxxxxx’x Mr. Bowers' Separation Date and to the extent Xx. Xxxxxxx is entitled Mr. Bowers xx xxxxxxed to participate therein, Xx. Xxxxxxx shall be Mr. Bowerx xxxxx xx entitled to receive cash in an amount equal to amounx xxxxx xx his award under the Company’s “'s "short term incentive compensation plan" for the annual performance period in which the Separation Date shall have occurred, at Xx. Xxxxxxx’x Mr. Bowers' target performance level and prorated by the number of months xxxxxx xx xxxxxx which have passed since the beginning of the annual performance period until the Separation Date. For purposes of this Section 2.2(h), the term "short term incentive compensation plan" shall mean any incentive compensation plan or arrangement adopted in writing by the Company which provides for annual, recurring compensatory bonuses to participants based upon articulated performance criteria, and which have been identified by the Compensation Committee and listed on Exhibit B hereto, which may be amended from time to time to reflect plan additions, terminations and amendments.

Appears in 1 contract

Samples: Change in Control Agreement (Alabama Power Co)

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Other Short Term Incentive Plans. The provisions of this Section 2.2(h) shall apply to Xx. Xxxxxxx Xxxxxxxxx to the extent that he, as of the date of the Change in Control, is a participant in any other “short term incentive compensation plan” not otherwise previously referred to in this Section 2.2. Provided Xx. Xxxxxxx Xxxxxxxxx is not otherwise entitled to a plan payout under any change in control provisions of such plans, if the “short term incentive compensation plan” is in place through Xx. Xxxxxxx’x Xxxxxxxxx’x Separation Date and to the extent Xx. Xxxxxxx Xxxxxxxxx is entitled to participate therein, Xx. Xxxxxxx Xxxxxxxxx shall be entitled to receive cash in an amount equal to his award under the Company’s “short term incentive compensation plan” for the annual performance period in which the Separation Date shall have occurred, at Xx. Xxxxxxx’x Xxxxxxxxx’x target performance level and prorated by the number of months which have passed since the beginning of the annual performance period until the Separation Date. For purposes of this Section 2.2(h), the term “short term incentive compensation plan” shall mean any incentive compensation plan or arrangement adopted in writing by the Company which provides for annual, recurring compensatory bonuses to participants based upon articulated performance criteria, and which have been identified by the Compensation Committee and listed on Exhibit B hereto, which may be amended from time to time to reflect plan additions, terminations and amendments.

Appears in 1 contract

Samples: Change in Control Agreement (Southern Power Co)

Other Short Term Incentive Plans. The provisions of this Section 2.2(h) shall apply to Xx. Xxxxxxx Mr. Holland to the extent that he, as of the date of the Change in ControlChaxxx xx Xxxxrol, is a participant in any other "short term incentive compensation plan" not otherwise previously referred to in this Section 2.2. Provided Xx. Xxxxxxx Mr. Holland is not otherwise entitled to a plan payout under any change in control provisions of such plans, if the "short term incentive compensation plan" is in place through Xx. Xxxxxxx’x Mr. Holland's Separation Date and to the extent Xx. Xxxxxxx is entitled to Mr. Holland xx xxxxxxxx xo participate therein, Xx. Xxxxxxx shall be entitled Mr. Holland xxxxx xx xxtitled to receive cash in an amount equal to his award exxxx xx xxx xxxxd under the Company’s “'s "short term incentive compensation plan" for the annual performance period in which the Separation Date shall have occurred, at Xx. Xxxxxxx’x Mr. Holland's target performance level and prorated by the number of months nxxxxx xx xxxxxx which have passed since the beginning of the annual performance period until the Separation Date. For purposes of this Section 2.2(h), the term "short term incentive compensation plan" shall mean any incentive compensation plan or arrangement adopted in writing by the Company which provides for annual, recurring compensatory bonuses to participants based upon articulated performance criteria, and which have been identified by the Compensation Committee and listed on Exhibit B hereto, which may be amended from time to time to reflect plan additions, terminations and amendments.

Appears in 1 contract

Samples: Change in Control Agreement (Alabama Power Co)

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