Short Term Incentives. The Executive shall be eligible to receive an annual short term incentive cash payment, the incentive plan to be determined by the Board in its sole discretion. The terms of the short term incentive plan (“STI Plan”) are set out in Exhibit A hereto, which is incorporated herein for all purposes. The terms and conditions of the STI Plan are subject to change from year to year. The payment made pursuant to this Section 2.2.1 shall be paid to the Executive in the succeeding year for which it is earned and shall be paid by March 31 of such year. The Executive must be actually employed on the date that any short term incentive plan payment is made in order to be eligible and entitled to any such short term incentive plan payment, except as otherwise set forth in this Agreement.
Short Term Incentives in the Employment Agreement shall be amended and superseded by the following Section 2.2.1:
Short Term Incentives. (a) Executive shall be eligible to receive incentive compensation under the STI Plan. The decision to award any incentive compensation to Executive under the STI Plan and the amount and terms of any such incentive compensation are subject to change from year to year and shall be in the sole and absolute discretion of the Compensation Committee of the Board.
Short Term Incentives. For each calendar year ending during the Employment Period, the Executive shall be eligible to participate in the Employer’s short-term incentive plan at the Executive Vice President level and to earn an annual cash bonus based on the achievement of performance criteria established by the Board as soon as administratively practicable following the beginning of each such year (the “Annual Bonus”). For each calendar year during the Employment Period (including for all of 2010), (A) the target Annual Bonus shall be an amount equal to 75% of the Executive’s Base Salary (the “Target Bonus”), and (B) the maximum Annual Bonus shall be an amount equal to 150% of the Executive’s Base Salary. The Employer shall pay the Annual Bonus (if any) for each such calendar year in a single, cash, lump sum after the end of the applicable calendar year in accordance with procedures established by the Board, but in no event later than the fifteenth day of the third month following the end of such calendar year, subject to and conditioned upon the Executive’s continued employment with the Employer through the date of payment of such Annual Bonus (except as otherwise provided in Section 5 hereof).
Short Term Incentives. During Executive’s continued employment in a senior management position, Executive shall be eligible to receive bonuses / short-term cash incentives in accordance with the Company’s or its Affiliate’s cash bonus / short-term incentive program(s) for senior management, as such programs may be modified from time to time. For the 2015 calendar year, Executive shall be entitled to a short-term cash bonus determined by the Company as of the Closing Date, under the performance metrics established by the MarkWest Hydrocarbon, Inc. short-term incentive plan and which shall be paid to Executive as soon as practicable following the end of the 2015 calendar year, but within the first two weeks of calendar year 2016.
Short Term Incentives. (a) You may be eligible to participate in any short-term incentive plans of the Board, which may be determined by the Board from time to time. (b) You may be entitled to a bonus incentive of up to a portion of your Base Salary set out in the Offer of Employment, which, if payable, will be payable based on Your performance against agreed performance milestones and may be paid annually in cash or equity and at the Board’s discretion. (c) Your eligibility and any payment is subject to the rules of any plan or policy in place from time to time. The Board may amend or discontinue the plan and the rules of the plan from time to time. They do not form part of Your employment agreement. (d) Any payment made to You under the plan will not give rise to an expectation or create any precedent for the awarding of any subsequent payment(s). (e) Your participation in the plan, and all benefits under the plan, are at the absolute discretion of the Board. Any payment to You will be net of any applicable tax and superannuation contribution which the Company is required to make in respect of any incentive payment. (f) Unless otherwise agreed in writing, You are only entitled to receive a benefit under the plan if You are employed by the Company and not subject to a notice of termination period on the date that the benefit is paid or provided. 7 LEAVE 7.1 Your entitlement (a) You are entitled to paid and unpaid leave including annual leave, personal/carer’s leave, compassionate leave, family and domestic violence leave, community service leave and parental leave in accordance with legislation. (b) Currently, Your entitlements under the National Employment Standards are 4 weeks annual leave each year, 10 days paid personal/carer’s leave each year (in certain circumstances You may also be able to access unpaid carer’s leave), compassionate leave, and up to 12 months unpaid parental leave where You have responsibility for the care of a child (in certain circumstances You may be able to extend this leave). (c) Entitlements for part-time employees are pro-rated accordingly.
Short Term Incentives. The liquidated damages for foregone short-term incentives under STIP shall be paid annually in cash, not later than 30 days after the date on which incentives are awarded by Xxxx Atlantic under the STIP for the prior year's performance, in an amount equal to the value of the cash and deferred stock which the Key Employee would have been entitled to receive under the STIP, without adjustment for individual performance. (iii)
Short Term Incentives. For each calendar year ending during the Employment Period, the Executive shall be eligible to participate in the Employer’s short-term incentive plan at the President and Chief Financial Officer level and to earn an annual cash bonus based on the achievement of performance criteria established by the Board as soon as administratively practicable following the beginning of each such year (the “Annual Bonus”). For each calendar year during the Employment Period (including for all of 2011, in part, as compensation for services performed for Employer’s predecessor), the maximum Annual Bonus shall not be less than $400,000 (the “Target Annual Bonus”). The Employer shall pay the Annual Bonus (if any) for each such calendar year in a single, cash, lump sum after the end of the applicable calendar year in accordance with procedures established by the Board, but in no event later than the thirtieth day following the Board’s approval of the audit if the short-term incentive plan is conditioned on the receipt of an audit, subject to and conditioned upon the Executive’s continued employment with the Employer through the date of payment of such Annual Bonus (except as otherwise provided in Section 5 hereof).
Short Term Incentives. For each calendar year ending during the Employment Period, the Executive shall be eligible to participate in the Employer’s short-term incentive plan at the Chief Executive Officer level and to earn an annual cash bonus based on the achievement of performance criteria established by the Board as soon as administratively practicable following the beginning of each such year (the “Annual Bonus”). For each calendar year during the Employment Period, (A) the target Annual Bonus shall be an amount equal to 100% of the Executive’s Base Salary, and (B) the maximum Annual Bonus shall be an amount equal to 200% of the Executive’s Base Salary. The Employer shall pay the Annual Bonus (if any) for each such calendar year in a single, cash, lump sum after the end of the applicable calendar year in accordance with procedures established by the Board, but in no event later than the fifteenth day of the third month following the end of such calendar year, subject to and conditioned upon the Executive’s continued employment with the Employer through the date of payment of such Annual Bonus.
Short Term Incentives. 1. Key Performance Plan:
