Short Term Incentive Sample Clauses

Short Term Incentive. The Executive will be eligible for annual performance-based STI incentive compensation valued at a target rate of 100% of the Executive’s Base Salary for the applicable performance year, comprised of a combination of cash and/or Restricted Share Units (“RSUs”) or other equity-based grants awarded under the Program and New LAC’s Equity Incentive plan (the “Plan”); and

Short Term Incentive. Executive shall be entitled to participate in the Company’s Short Term Incentive plan (“STI”) with a payout target of seventy percent (70%) of Executive’s Base Salary. The structure of the STI from time to time, whether any STI payout will be awarded, and the amount of the STI awarded to Executive, shall be in the discretion of the Compensation Committee of the Board. Since the STI award is intended both to reward past Company and Executive performance and to provide an incentive for Executive to remain with the Company, Executive must remain an active employee through the date that any such STI award is paid in order to be entitled to receive any such award, except as otherwise provided in Section 5.2. Executive will not be paid any STI award (including a prorated award) if Executive’s employment terminates for any reason before the STI is paid to him, except as otherwise provided in Section 5.2. Any earned STI shall be paid, if at all, not later than March 15th of the year following the calendar year as to which performance was measured.

Short Term Incentive. “Short-Term Incentive” shall mean, with respect to any fiscal year of the Company, the specific annual incentive award (if any) approved for Executive by the Board or a designated committee of the Board with respect to such year.

Short Term Incentive. Eligibility for the annual Short-Term Incentive is based upon a sixty percent (60%) target of Employee's Base Salary and is pursuant to the terms of the Short-Term Incentive Plan Document. Target percentages and plan terms are subject to change at the sole discretion of Company and its Board of Directors and are not a guarantee of compensation.

Short Term Incentive a) The Executive will be eligible to a discretionary STI), the details are as per Item 6 of the Schedule. b) In exercising its discretion pursuant to clause 10.2(a), the Board will take into account the Executive’s performance in relation to key performance indicators established annually in consultation with the Executive and the Company’s performance. The decision of the Board as to whether, and the extent to which, key performance indicators have been met by the Executive is final and conclusive. c) The Executive will be eligible to receive the STI benefit under this clause and Item 6 of the Schedule in relation to any performance year if, and only if, they are in the employ of the Company for that entire year and have not, prior to the expiry of that year, given or been given notice of termination of your employment. However, should the Executive’s employment cease under clause 26.2 or 26.3 within a performance year, the Executive will be considered for an incentive under this clause on a pro-rata basis for that performance year.

Short Term Incentive. At such time as the Company pays short-term incentive awards, if any, to senior executives of the Company for the year in which Executive’s termination occurs, the Company shall pay Executive a lump sum cash amount equal to the product obtained by multiplying (A) the full-year short-term incentive award that Executive would have earned had Executive remained employed through the end of the calendar year in which the termination of employment occurs based on the degree of satisfaction of the applicable performance objectives, as determined in good faith by the Committee (except that any individual subjective performance objectives will be deemed achieved at the target level), by (B) a fraction, the numerator of which is the total number of days that have elapsed during the calendar year through the date of termination of employment and the denominator of which is the total number of days in such calendar year.

Short Term Incentive. Programme (STIP): M▇ ▇▇▇▇▇▇▇▇▇▇▇▇▇▇ is eligible for the Company Officer’s Short Term Incentive Programme (STIP), a Performance Based Target opportunity. M▇ ▇▇▇▇▇▇▇▇▇▇▇▇▇▇’▇ target opportunity equals 2,500,000 common shares in the company and 250,000 common shares in the subsidiary Quality Industrial Corp. intended to qualify as performance-based compensation under Internal Revenue Code section 162(m). The STIP can range from 0% to a maximum target based on performance against agreed plan. The Board of Directors reserves the right to amend the Bonus Structure based on market conditions and overall performance of the Company. The targets will be negotiated with the Board of Directors and compensation paid out once a year after the filing of the annual results effective from the month after the filing, for the first time with the 2022 annual results. The board of directors will after the annual result discretionarily decide if the STIP is stock-based equity, cash pay-out or a combination in the company or its subsidiaries. The targets for the Officer for each term are as per the Officer’s Key Performance Indices (KPI) Agreement.

Short Term Incentive. For each calendar year during the Term, Employee shall be eligible to receive an annual incentive bonus in the discretion of the Company’s Compensation Committee or Board based upon Employee meeting or exceeding mutually agreed upon performance goals, with a target annual incentive bonus equal to 80% of Employee’s annualized Salary and to be paid in cash, subject to all applicable corporate approvals, to be issued no later than March 15 of the calendar year immediately following the calendar year for which such bonus is earned; provided, however, that nothing herein shall obligate the Company to pay any Short Term Incentive bonus under this Section 3.2 to Employee at any time.

Short Term Incentive. At such time as the Company pays short-term incentive awards, if any, to senior executives of the Company for the year in which Executive’s termination occurs, the Company shall pay Executive a lump sum cash amount equal to the product obtained by multiplying (A) the full-year short-term incentive award that Executive would have earned had Executive remained employed through the end of the calendar year in which the termination of employment occurs based on the degree of satisfaction of the applicable performance objectives, as determined in good faith by the Committee, by (B) a fraction, the numerator of which is the total number of days that have elapsed during the calendar year through the date of termination of employment and the denominator of which is the total number of days in such calendar year.