VALUE CREATION AWARD Sample Clauses

VALUE CREATION AWARD. Simultaneously with the execution of this Agreement, the Employee shall be granted an award pursuant to the Company’s Value Creation Program set forth on Exhibit B (the “Value Creation Award”). The Employee and the Company acknowledge and agree that the Value Creation Award is an integral part of this Agreement. The parties further acknowledge and agree that the Value Creation Award is intended to incentivize and reward the Employee for creating value for the Company’s shareholders and other stakeholders and is also applicable if there are modifications to the Company’s capital structure. Accordingly, the Company and Board agree to support this Agreement and any payments that may be due to the Employee under the Value Creation Award, irrespective of any restructuring of the Company. The Value Creation Award granted to the Employee shall not be subject to any restrictive covenants. The Value Creation Award granted to the Employee shall be equal to 3.5%, or 350,000 units, of the bonus pool granted under the Value Creation Program. Notwithstanding the provisions of the Value Creation Program, any interpretation of the Value Creation Program and the Employee’s Value Creation Award and any disagreement with regard thereto shall be resolved de novo pursuant to the provisions of Section 16 hereof.
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Related to VALUE CREATION AWARD

  • Performance Award You are hereby awarded, on the Grant Date, a Performance Award with a target value of [AMOUNT].

  • Incentive Award The three (3) year rolling average of earnings growth and Return On Equity (the "▇▇▇") and determined as of December 31 of each plan year shall determine the Director's Incentive Award Percentage, in accordance with the attached Schedule A. The chart on Schedule A is specifically subject to change annually at the sole discretion of the Company's Board of Directors. The Incentive Award is calculated annually by taking the Director's Annual Fees for the Plan Year in which the ▇▇▇ and Earnings Growth was calculated times the Incentive Award Percentage.

  • Performance Share Award If your Award includes a Performance Share Award, and you voluntarily terminate your employment prior to the end of the Performance Period, you will forfeit your entire Performance Share Award. 

  • Stock Option Award In the event of Employee’s involuntary Termination of Employment without Cause or Termination of Employment due to a resignation by Employee for Good Reason that, in either case, occurs on or before the second anniversary of a Change in Control, the Stock Option Award shall become exercisable immediately (whether or not previously exercisable) and shall remain exercisable for the three year period following such Termination of Employment. For this purpose, “Good Reason” has the same meaning determined by Employee’s written employment agreement in effect on the Grant Date. In the event there is no such agreement or definition, then Good Reason means the initial existence of one or more of the following conditions, arising without the consent of the Employee: (1) a material diminution in Employee’s base compensation; (2) a material diminution in Employee’s authority, duties, or responsibilities, so as to effectively cause Employee to no longer be performing the duties of his position; (3) a material diminution in the authority, duties, or responsibilities of the supervisor to whom Employee is required to report.

  • Performance Units Subject to the limitations set forth in paragraph (c) hereof, the Committee may in its discretion grant Performance Units to any Eligible Person and shall evidence such grant in an Award Agreement that is delivered to the Participant which sets forth the terms and conditions of the Award.