Common use of Short-Term Incentive Awards Clause in Contracts

Short-Term Incentive Awards. In his capacity as CEO of the Company, Employee shall be eligible for an annual short-term incentive award determined by the Compensation Committee in respect of each fiscal year (or partial fiscal year) during the Term of Employment (the “STI Award”) in accordance with this Section 4(b). The intended target “STI Award” shall be up to 200% of Base Salary, and shall be tied directly to performance. The STI Award shall be paid as soon as practicable following the last day of the fiscal year, but in no event later than one day prior to the date that is 2 1/2 months following the last day of the fiscal year.

Appears in 2 contracts

Samples: Employment Agreement (Triangle Petroleum Corp), Employment Agreement (Triangle Petroleum Corp)

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Short-Term Incentive Awards. In his capacity as CEO of the Company, Employee shall be eligible beginning in the Company’s fiscal year 2014 and subsequent fiscal years for an annual short-term incentive cash award determined by the Compensation Committee Board in respect of each fiscal year (or partial fiscal year) during the Term of Employment (the “STI Award”) in accordance with this Section 4(b). The intended target “STI Award” shall be up to 200100% of Base Salary, and shall be tied directly to performance. The STI Award shall be paid as soon as practicable following the last day of the fiscal year, but in no event later than one day prior to the date that is 2 1/2 ½ months following the last day of the fiscal year.

Appears in 1 contract

Samples: Employment Agreement (Triangle Petroleum Corp)

Short-Term Incentive Awards. In his capacity as CEO CFO of the Company, Employee shall be eligible for an annual short-term incentive award determined by the Compensation Committee in respect of each fiscal year (or partial fiscal year) during the Term of Employment (the “STI Award”) in accordance with this Section 4(b). The intended target “STI Award” shall be up to 200% of Base Salary, and shall be tied directly to performance. The STI Award shall be paid as soon as practicable following the last day of the fiscal year, but in no event later than one day prior to the date that is 2 1/2 months following the last day of the fiscal year.

Appears in 1 contract

Samples: Employment Agreement (Triangle Petroleum Corp)

Short-Term Incentive Awards. In his capacity as CEO CFO of the Company, Employee shall be eligible for an annual short-term incentive award determined by the Compensation Committee in respect of each fiscal year (or partial fiscal year) during the Term of Employment (the “STI Award”) in accordance with this Section 4(b4(c). The intended target STI Award” Award shall be up to 200100% of Base Salary, and shall be tied directly to performance. The STI Award shall be paid as soon as practicable following the last day of the fiscal yearyear to which the STI Award relates, but in no event later than one day prior to the date that is 2 1/2 months following the last day of the fiscal year.

Appears in 1 contract

Samples: Employment Agreement (Triangle Petroleum Corp)

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Short-Term Incentive Awards. In his capacity as CEO of the Company, Employee shall be eligible for an annual short-term incentive award determined by the Compensation Committee in respect of each fiscal year (or partial fiscal year) during the Term of Employment (the “STI Award”) in accordance with this Section 4(b). The intended target “STI Award” shall be up to 200175% of Base Salary, and shall be tied directly to performance. The STI Award shall be paid as soon as practicable following the last day of the fiscal year, but in no event later than one day prior to the date that is 2 1/2 months following the last day of the fiscal year.

Appears in 1 contract

Samples: Employment Agreement (Triangle Petroleum Corp)

Short-Term Incentive Awards. In his capacity as CEO of the Company, Employee shall be eligible for an annual short-term incentive award determined by the Compensation Committee in respect of each fiscal year (or partial fiscal year) during the Term of Employment (the “STI Award”) in accordance with this Section 4(b4(c). The intended target STI Award” Award shall be up to 200% of Base Salary, and shall be tied directly to performance. The STI Award shall be paid as soon as practicable following the last day of the fiscal yearyear to which the STI Award relates, but in no event later than one day prior to the date that is 2 1/2 months following the last day of the fiscal year.

Appears in 1 contract

Samples: Employment Agreement (Triangle Petroleum Corp)

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