Incentive Plan Committee definition

Incentive Plan Committee has the meaning set forth in Section 3.1(a).

Incentive Plan Committee means a committee consisting of at least two disinterested members of the Board who are empowered hereunder to take actions in the administration of the Plan. The Incentive Plan Committee shall be so constituted at all times as to permit the Plan to comply with Rule 16b-3 or any successor rule promulgated under the Securities Exchange Act of 1934 (the "1934 Act"). Members of the Incentive Plan Committee shall be appointed from time to time by the Board, shall serve at the pleasure of the Board, and may resign at any time upon written notice to the Board.

Incentive Plan Committee means a committee consisting entirely of Non-Employee Directors of the Board, who are empowered hereunder to take all action required in the administration of the Plan and the grant and administration of Awards hereunder. The Incentive Plan Committee shall be so constituted at all times as to permit the Plan to comply with Rule 16(a) 3 or any successor rule promulgated under the Exchange Act. Members of the Incentive Plan Committee shall be appointed from time to time by the Board, shall serve at the pleasure of the Board and may resign at any time upon written notice to the Board. Notwithstanding the foregoing, at any time that there are fewer than two Non-Employee Directors on the Board or when no Incentive Plan Committee has been appointed by the Board, all powers of the Incentive Plan Committee shall be vested in the Board.

Examples of Incentive Plan Committee in a sentence

• This Plan will be administered by a Management Incentive Plan Committee ("Committee") appointed and authorized by the Company's Board of Directors.

• Whether an authorized leave of absence, or absence in military or government service, shall constitute a termination of employment shall be determined by the Incentive Plan Committee at the time.

• Each stock option agreement shall state the period of time, determined by the Incentive Plan Committee, within which the Option may be exercised by the Option Holder (the "Option Period").

• This Plan is administered by a Management Incentive Plan Committee ("Committee") appointed and authorized by the Company's Board of Directors.

• Each stock option agreement shall state that it covers a specified number of Shares, as determined by the Incentive Plan Committee.

• The number of Shares granted as a Restricted Stock Award shall be determined by the Incentive Plan Committee.

• The Incentive Plan Committee, in its discretion, may enter into arrangements with one or more banks, brokers or other financial institutions to facilitate the disposition of shares acquired upon exercise of Stock Options, including, without limitation, arrangements for the simultaneous exercise of Stock Options and sale of the Shares acquired upon such exercise.

• All elections shall be subject to the approval or disapproval of the Incentive Plan Committee.

• Each stock option agreement shall also state the periods of time, if any, as determined by the Incentive Plan Committee, when incremental portions of each Option shall vest.

• The Incentive Plan Committee in its sole discretion shall designate whether an Option is to be considered an Incentive Stock Option or a Non-Statutory Option.

More Definitions of Incentive Plan Committee

Incentive Plan Committee means a committee consisting of all of the members of the Board.

Incentive Plan Committee means the Compensation and Incentive Committee of the Board of Directors.

Incentive Plan Committee means a committee consisting entirely of Non-Employee Directors of the Board, who are empowered hereunder to take all action required in the administration of the Plan and the grant and administration of Awards hereunder. The Incentive Plan Committee shall be so constituted at all times as to permit the Plan to comply with Rule 16b-3 or any successor rule promulgated under the Exchange Act. Members of the Incentive Plan Committee shall be appointed from time to time by the

Incentive Plan Committee means the entire Board, or a committee consisting of at least two persons. Members of the Incentive Plan Committee shall be appointed from time to time by the Board, shall serve at the pleasure of the Board, and may resign at any time upon written notice to the Board. With respect to Options granted to a person subject to Rule 16b-3 ("Rule 16b-3") of the Securities Exchange Act of 1934 or any successor rule (the "1934 Act"), unless otherwise determined by the Board, the Committee granting such Option (i) shall be the entire Board or (ii) shall be comprised solely of two or more "non-employee directors" as defined by Rule 16b-3. With respect to Options granted to a "covered employee" under Section 162(m) of the Code and the rules and regulations of the Treasury Department promulgated thereunder ("Section 162(m)"), unless otherwise determined by the Board, the Committee granting such Option shall be comprised solely of two or more "outside directors" as defined by Section 162(m). With respect to Options granted to a person subject to both Rule 16b-3 and Section 162(m), unless otherwise determined by the Board, all grants will be made in a manner that complies with both Rule 16b-3 and Section 162(m). The Incentive Plan Committee shall be so constituted at all times as to permit the Plan to comply with Rule 16b-3 or any successor rule promulgated under the 1934 Act.