Examples of MIP Participant in a sentence
If the New Board elects to terminate a KEIP Participant’s employment without cause prior to: (i) the expiration of sixty (60) days from the Effective Date, and (ii) reaching an agreement with respect to such KEIP Participant’s employment agreement, then such MIP Participant shall be entitled to receive one hundred percent (100%) of their annual base salary as severance.
Each 2016 MIP Participant must be employed as of first day of the calendar year, and payment is subject to such 2016 MIP Participant being actively employed as of the date MIP Awards, if any, are paid.
In addition to establishing a Threshold value for each selected Performance Factor, the Committee shall establish the value for each Performance Factor where the 2013 MIP Participant shall earn the Target Percentage (“Target’).
The Committee shall further determine which of the Performance Factors that shall apply to the 2013 MIP Participant for purposes of their MIP Award.
The CEO and the applicable Business or Function leader will recommend to the Committee any Performance Adjustment for each other 2014 MIP Participant.
Each 2015 MIP Participant has been assigned a percentage of his or her base salary that will be used in calculating the amount of his or her MIP Award, if any (the “Target Percentage”).
The Committee established the value for each Performance Factor where the 2016 MIP Participant shall earn the maximum percentage of the Target Percentage (the “Maximum”, and collectively with the Threshold and Target, together with any other value of Performance Factor between these values that the Committee defines or are mathematically interpolated, the “Performance Factor Targets”).
The CEO may recommend to the Committee any such adjustments for each 2015 MIP Participant who reports directly to the CEO, and the CEO and the applicable Business or function leader may recommend to the Committee any adjustment for each other 2015 MIP Participant.
Each of Parent, the Surviving Corporation and the Paying Agent shall be entitled to deduct and withhold from the consideration otherwise payable pursuant to this Agreement to any Company Stockholders, Option Holders or MIP Participant such amounts as may be required to be deducted and withheld under the Code or any other Applicable Law with respect to the making of such payment.
The CEO and the applicable Business or Function leader will recommend to the Committee any Performance Adjustment for each other 2013 MIP Participant.