Participation in Incentive Plans. In addition to Employee's eligibility to receive annual bonuses pursuant to Section 5, Employee shall be entitled to participate in short-term and long-term incentive plans as shall be maintained by the Company from time to time on such terms and conditions as shall be established by the Board.
Participation in Incentive Plans. The Employee will be entitled to participate in the equity incentive plan of the Employer, as the same may be amended from time to time, and in any other bonus or incentive plan established by the Board for the benefit of employees of the Employer and its Affiliates, unless otherwise determined by the Board. The Employee’s rights and obligations as the holder of any stock options (or any other equity interest in the Employer) shall be governed by the terms of the agreement or other document governing the terms of the applicable plan.
Participation in Incentive Plans. The Employee will be entitled to participate in the equity incentive plan of the Employer, as the same may be amended from time to time, and in any other bonus or incentive plan established by the Board for the benefit of employees of the Employer and its Affiliates, unless otherwise determined by the Board. The Employee’s rights and obligations as the holder of any stock options (or any other equity interest in the Employer) shall be governed by the terms of the agreement or other document governing the terms of the applicable plan. Subject to the formal approval of the Board of Directors, the Employee will receive 250,000 shares of restricted stock and 250,000 options priced in accordance with the Company’s policies. The terms and conditions that will govern these and any other equity incentives will be provided at a later date by the Company. The Employee will also be eligible to participate in the management bonus program with a target of 40% of base salary. Payouts will be determined based on a combination of performance metrics set forth by the Board of Directors and individual performance objectives to be mutually agreed upon.
Participation in Incentive Plans. The Employee may be entitled to participate in the bonus or incentive plans of the Employer, as may be amended from time to time by the Employer, at its sole discretion, unless otherwise determined by the Employer in its sole discretion. The Employee’s rights and obligations as the holder of any stock options (or any other equity interest in the Employer) shall be governed by the terms of the agreement or other document governing the terms of the applicable plan. Subject to the terms of any bonus or incentive plans of the Employer, in the event that the employment of the Employee is terminated for any reason prior to a bonus or grant of stock options being declared, and regardless of whether the employment of the Employee is terminated by the Employee or the Employer, the Employee’s participation in and eligibility for all bonus or incentive plans or other equity or profit participation plans shall terminate immediately upon the Date of Termination and the Employee shall only be entitled to any additional bonus or incentive award earned pro rata up to the Date of Termination, in addition to any amount that may have been earned and owing as of the Date of Termination, and any options to purchase any securities of the Employer then held by the Employee shall be dealt with and governed by the terms of the plan governing such options.
Participation in Incentive Plans. The Executive shall be eligible to participate in any long-term incentive plans or programs established by the Company or its affiliates for senior officers generally, at levels commensurate with the benefits provided to other senior officers and with adjustments appropriate for his position as the Chief Executive Officer, Chairman of the Board and Chairman of the Parent Board. Any awards made under Sections 3(b)(iv), (v) and (vii) and other similar awards subsequently issued to the Executive by members of the “Affiliated Group” (as defined below) shall be referred to in this Agreement as the “Equity Awards.”
Participation in Incentive Plans. Notwithstanding anything in any incentive plan to the contrary, Employee acknowledges that he will not be eligible to participate in the PNM Resources, Inc. 2015 Annual Incentive Plan, the PNM Resources, Inc. 2015 Officer Annual Incentive Plan or the PNM Resources, Inc. 2015 Long-Term Incentive Plan. Employee also acknowledges that pursuant to the terms of the PNM Resources, Inc. 2014 Long-Term Incentive Plan (“2014 LTIP”), he is not eligible to receive any awards under the 2014 LTIP. For the avoidance of doubt, Employee also acknowledges that he is not eligible under the terms of the PNM Resources, Inc. 2013 Long-Term Incentive Plan (the “2013 LTIP”) to receive a grant of time vested Restricted Stock Rights pursuant to the 2013 LTIP. Employee shall be eligible to receive a grant of time vested Restricted Stock Rights pursuant to the PNM Resources, Inc. 2012 Long-Term Incentive Plan (the “2012 LTIP”), subject to the terms and conditions of the 2012 LTIP. Employee shall be eligible to receive a Performance Share Award pursuant to the 2013 LTIP and the 2012 LTIP, subject to the terms and conditions of the 2013 LTIP and 2012 LTIP.
Participation in Incentive Plans. During the Consultant’s engagement with the Company, the Consultant shall be entitled to participate in all incentive stock option (as provided in this Agreement), savings and retirement plans, policies and programs maintained in force by the Company, including any qualified pension, profit sharing or other retirement plans, non-qualified retirement and deferred compensation plans, and other similar retirement and welfare benefit plans, programs and arrangements, provided that the Consultant qualifies for participation in such plans, programs and arrangements pursuant to the terms thereof.
