Participation in Compensation Plans and Programs Sample Clauses

Participation in Compensation Plans and Programs. In accordance with the respective terms and conditions of the respective plans and programs, the Executive shall be entitled to participate in the following compensation plans and programs:
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Participation in Compensation Plans and Programs. In accordance with the respective terms and conditions of the respective plans and programs, the Executive shall be entitled to participate in the following compensation plans and programs during the Term of the Agreement: 1. Annual Incentive Plan (“AIP”). In the AIP at an annual opportunity at 120% of Base Salary through October 14, 2021 if targets are reached at 100%, and commencing October 15, 2021 at 150% of Base Salary if targets are reached at 100%, or such greater percentage if provided in the AIP for any year. 2. Performance Share Plan (“PSP”)/Performance Plan (“PP”). Through December 31, 2019, in the PSP at an opportunity equal to 150% of Base Salary if targets are reached at 100%. Effective January 1, 2020, in the PSP at an opportunity equal to 300% of Base Salary if targets are reached at 100%. The applicable percentage for Executive’s current 2018-2020 PSP award will be prorated, with this increased percentage effective as of January 1, 2020. Effective January 1, 2021, the Company transitioned to a Performance Plan, with overlapping three-year, all cash performance periods, with cash payouts, if any, following as practical following the closing of the performance period. As a result of this change, from January 1, 2021 through October 14, 2021, Executive will participate in the PP at an opportunity equal to 100% of Base Salary if targets are reached at 100%, and effective October 15, 2021 for the 2021-2023 PP and for any PP awards thereafter, Executive will participate in the PP at an opportunity equal to 160% of Base Salary if targets are reached at 100%. Installment payments and participation in the prior 2018-2020 PSP cycle are governed by their separate plan documents and the Employment Agreement.
Sample 1
Participation in Compensation Plans and Programs. In accordance with the respective terms and conditions of the respective plans and programs, the Executive shall be entitled to participate in the following compensation plans and programs during the Term of the Agreement: 1. Annual Incentive Plan (“AIP”). In the AIP at an annual opportunity at 150% of Base Salary through December 31, 2023 and for each year during the remainder of the Term if targets are reached at 100%, or such greater percentage if provided in the AIP for any year. 2. Performance Plan (“PP”). Through December 31, 2023, in the PP at an opportunity equal to 160% of Base Salary if targets are reached at 100%. Effective January 1, 2024 for the 2024-2026 PP and for any PP awards thereafter, Executive will participate in the PP at an opportunity equal to 100% of Base Salary if targets are reached at 100%. 3. Restricted Stock Award Program (“RSAP”). Prior to December 31, 2023 in the RSAP with annual grants of restricted stock equal to at least 160% of Base Salary as of the date of the grant subject to meeting targets set forth in the RSAP, and effective January 1, 2024, in the RSAP with annual grants of restricted stock or restricted stock units equal to at least 100% of Base Salary as of the date of the grant subject to meeting targets set forth in the RSAP.
Sample 1

Related to Participation in Compensation Plans and Programs

  • Participation in Benefit Plans The Executive shall be eligible to participate in the employee benefit plans and programs maintained by the Company from time to time for its executives, or for its employees generally, including without limitation any life, medical, dental, accidental and disability insurance and profit sharing, pension, retirement, savings, stock option, incentive stock and deferred compensation plans, in accordance with the terms and conditions as in effect from time to time.

  • Compensation Plans Following any termination of the Executive's employment, the Company shall pay the Executive all unpaid amounts, if any, to which the Executive is entitled as of the Date of Termination under any compensation plan or program of the Company, at the time such payments are due.

  • Participation in Retirement and Employee Benefit Plans The Employee shall be entitled to participate in all plans relating to pension, thrift, profit-sharing, group life and disability insurance, medical and dental coverage, education, cash bonuses, and other retirement or employee benefits or combinations thereof, in which the Bank's executive officers participate.

  • Deferred Compensation Plans Employees are to be included in the State of California, Department of Personnel Administration's, 401(k) and 457 Deferred Compensation Programs. Eligible employees under IRS Code Section 403(b) will be eligible to participate in the 403(b) Plan.

  • Participation in Plans Notwithstanding any other provision of this Agreement, the Executive shall have the right to participate in any and all of the plans or programs made available by the Company (or it subsidiaries, divisions or affiliates) to, or for the benefit of, executives (including the annual stock option and restricted stock grant programs) or employees in general, on a basis consistent with other senior executives.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Employee Benefit Plans and Compensation (a) For purposes of this Section 2.22, the following terms shall have the meanings set forth below:

  • Participation in Employee Benefit Plans The Executive shall be permitted during the Term, if and to the extent eligible, to participate in any group life, hospitalization or disability insurance plan, health program, or any pension plan or similar benefit plan of the Company, which is available generally to other senior executives of the Company.

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

  • Incentive Compensation Plan In addition to receipt of Basic Compensation under the Employment Agreement, you shall participate in the Incentive Compensation Plan for Executive Officers of the Company (the “Compensation Plan”) and shall be eligible to receive incentive compensation under the Compensation Plan as may be awarded in accordance with its terms.

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