Common use of Supplemental Long-Term Incentive Award Clause in Contracts

Supplemental Long-Term Incentive Award. The parties acknowledge and agree that Executive previously received an award of restricted stock units on a date designated by the Fxxxxx Xxxxxxx AG Board of Directors or its Compensation Committee ("Compensation Committee") during the first open trading window for Section 16 officers subsequent to May 2, 2010 (known as the "Grant Date") with an economic value as of the Grant Date equal to USD $2,500,000. Such award vests ratably on the first, second, and third anniversaries of the Grant Date. Restricted stock units that vest shall be settled by issuance of shares as provided in the grant agreements described above, but in no event later than March 15 of the year following the year in which the restricted stock units vest. For purposes of this Section, the number of restricted stock units granted to the Executive was consistent with the methodology used for valuing restricted stock unit awards granted to employees which was approved and adopted by the Compensation Committee. Such award was granted under the Company's Omnibus Incentive Plan and governed by separate agreements entered into between the Executive and the Company or one of its affiliates, and in the event of any inconsistency between such separate agreements and the terms of the Agreement (including, but not limited to, its Section 4 and this Amendment), the Agreement shall govern and control. For avoidance of doubt, nothing in the preceding sentence shall be construed to limit the application of any provision of such separate agreements that expressly refers to and incorporates a provision of this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Foster Wheeler Ag)

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Supplemental Long-Term Incentive Award. The parties acknowledge and agree that Executive previously received shall receive an award of restricted stock units on a date designated by the Fxxxxx Xxxxxx Xxxxxxx AG Board of Directors or its Compensation Committee ("Compensation Committee") during the first open trading window for Section 16 officers subsequent to May 2, 2010 the Effective Date (known as the "Grant Date") with an economic value as of the Grant Date equal to USD $2,500,000. Such award vests shall vest ratably on the first, second, and third anniversaries of the Grant Date. Restricted stock units that vest shall be settled by issuance of shares as provided in the grant agreements described above, but in no event later than March 15 of the year following the year in which the restricted stock units vest. For purposes of this Section, the number of restricted stock units to be granted to the Executive was shall be consistent with the methodology used for valuing restricted stock unit awards granted to employees which was has been approved and adopted by the Compensation Committee. Such award was will be granted under the Company's ’s Omnibus Incentive Plan and governed by separate agreements entered into between the Executive and the Company or one of its affiliates, and in the event of any inconsistency between such separate agreements and the terms of the Agreement (including, but not limited to, to its Section 4 and this Amendment), the Agreement shall govern and control. For avoidance of doubt, nothing in the preceding sentence shall be construed to limit the application of any provision of such separate agreements that expressly refers to and incorporates a provision of this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Foster Wheeler Ag)

Supplemental Long-Term Incentive Award. The parties acknowledge and agree that Executive previously received shall receive an award of restricted stock units on a date designated by the Fxxxxx Xxxxxx Xxxxxxx AG Board of Directors or its Compensation Committee ("Compensation Committee") during the first open trading window for Section 16 officers subsequent to May 2, 2010 the Effective Date (known as the "Grant Date") with an economic value as of the Grant Date equal to USD $2,500,0001,250,000. Such award vests shall vest ratably on the first, second, and third anniversaries of the Grant Date. Restricted stock units that vest shall be settled by issuance of shares as provided in the grant agreements described above, but in no event later than March 15 of the year following the year in which the restricted stock units vest. For purposes of this Section, the number of restricted stock units to be granted to the Executive was shall be consistent with the methodology used for valuing restricted stock unit awards granted to employees which was has been approved and adopted by the Compensation Committee. Such award was will be granted under the Company's ’s Omnibus Incentive Plan and governed by separate agreements entered into between the Executive and the Company or one of its affiliates, and in the event of any inconsistency between such separate agreements and the terms of the Agreement (including, but not limited to, to its Section 4 and this Amendment), the Agreement shall govern and control. For avoidance of doubt, nothing in the preceding sentence shall be construed to limit the application of any provision of such separate agreements that expressly refers to and incorporates a provision of this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Foster Wheeler Ag)

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Supplemental Long-Term Incentive Award. The parties acknowledge and agree that Executive previously received an award of restricted stock units on a date designated by the Fxxxxx Xxxxxxx AG Board of Directors or its Compensation Committee ("Compensation Committee") during the first open trading window for Section 16 officers subsequent to May 24, 2010 (known as the "Grant Date") with an economic value as of the Grant Date equal to USD $2,500,0001,250,000. Such award vests ratably on the first, second, and third anniversaries of the Grant Date. Restricted stock units that vest shall be settled by issuance of shares as provided in the grant agreements described above, but in no event later than March 15 of the year following the year in which the restricted stock units vest. For purposes of this Section, the number of restricted stock units granted to the Executive was consistent with the methodology used for valuing restricted stock unit awards granted to employees which was approved and adopted by the Compensation Committee. Such award was granted under the Company's Omnibus Incentive Plan and governed by separate agreements entered into between the Executive and the Company or one of its affiliates, and in the event of any inconsistency between such separate agreements and the terms of the Agreement (including, but not limited to, its Section 4 and this Amendment), the Agreement shall govern and control. For avoidance of doubt, nothing in the preceding sentence shall be construed to limit the application of any provision of such separate agreements that expressly refers to and incorporates a provision of this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Foster Wheeler Ag)

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