MIP Pool definition

MIP Pool means a pool of stock-based awards, in the form of options, appreciation rights, restricted stock units, restricted stock, or similar awards, as applicable, representing at least 5% but no more than 10% of the aggregate amount of New Stock, determined on a fully diluted and fully distributed basis (with the ratio of New Common Stock to New Preferred Stock to be the same as the ratio of all New Common Stock to all New Preferred Stock held by the average Backstop Commitment Party), which shall be reserved for distribution to certain participating employees of the Reorganized Debtors or Affiliates pursuant to the Management Incentive Plan and shall be in accordance with the Restructuring Term Sheet.
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MIP Pool means a pool of stock-based awards, in the form of options, appreciation rights, restricted stock units, restricted stock, or similar awards, as applicable, representing 7.70% of the aggregate amount of New Common Stock, determined on a fully diluted and fully distributed basis and assuming the exercise of all of the Warrants (the “MIP Equity”), which shall be reserved for distribution to certain participating employees of the Reorganized Debtors or their Affiliates pursuant to the Management Incentive Plan and shall be in accordance with the Restructuring Support Agreement. No less than 50% of the MIP Equity (the “Effective Date MIP Equity Allocation”) will be granted on the Effective Date to such employees in the form of restricted stock units (or the economic equivalent), on other customary terms and conditions for similar type awards, and which shall vest ratably over three years with the breakdown between time and performance based awards being determined by the Reorganized Whiting Parent Board; provided, however, that the Effective Date MIP Equity Allocation granted on the Effective Date shall be reduced by subtracting a percentage equal to the quotient of $13.5 million divided by 7.70% of the stipulated equity value as set forth in the Plan Supplement, which stipulated equity value is subject to the Consenting Creditor Consent Right.
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MIP Pool means the 10% of New FTS Equity reserved for issuance as part of the Management Incentive Plan.
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Examples of MIP Pool in a sentence

  • On the Effective Date, the Reorganized Whiting Parent Board shall implement the MIP Pool, and following the Effective Date, the Reorganized Whiting Parent Board shall determine the other terms and conditions of the Management Incentive Plan.

  • Monitoring progress and evaluation of GEP 25List of figures 26Sources 27 I.

  • The Management Incentive Plan shall provide for 4.0% of the New Common Equity reserved for the Management Incentive Plan to be allocated within ninety (90) days following the Effective Date, and shall consist of half restricted stock units (i.e., 25.0% of the MIP Pool), half stock options (i.e., 25.0% of the MIP Pool), and on other terms (including performance metrics and vesting criteria) approved by the New Board.

  • They have some attributes of all of them, but they are neither trustees nor managing partner in full sense of the term.

  • Holdco will reserve a pool of shares of Common Stock of Holdco (“Common Stock”) representing between 5% and 10% of Holdco’s Common Stock, determined on a fully diluted and fully distributed basis (i.e., assuming conversion of all outstanding convertible securities and full distribution of the MIP Pool).

  • Seven percent (7.0%) of the New Interests of the Company that are issued and outstanding on the Effective Date shall be reserved for issuance under the MIP Pool.

  • Effective means of inviting families into the full life of the Church need to be developed. Faith is not an academic subject.

  • For this purpose, the “Remaining MIP Pool” means the portion of the MIP Pool that has not previously been granted and all shares of Holdco Common Stock subject to the Emergence Grants or subsequent Awards that have been forfeited before vesting.

  • Management Incentive Plan Reorganized FTS will reserve for issuance to management equity interests representing 10% of New FTS Equity (“MIP Pool”), determined on a fully diluted and fully distributed basis (i.e., assuming conversion as of the Plan Effective Date of all outstanding convertible securities and full distribution of the MIP Pool).

  • Immediately prior to the Effective Date, the Debtors shall reserve the equity portion of the MIP Pool consistent with the Plan Supplement.


More Definitions of MIP Pool

MIP Pool means seven percent (7%) of the New Interests that are issued and outstanding on the Effective Date, which the New Board will be authorized to award under the Management Incentive Plan, which shall not be subject to dilution on account of the New Interests issued pursuant to the Rights Offering and the Backstop Purchase Agreement.
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MIP Pool means a pool of up to 8-10% of the value of the New Reorganized OpCo Debtor Equity on a fully diluted basis, as of the OpCo Plan Effective Date, reserved for issuance pursuant to the MIP, including Emergence Awards, if any.
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MIP Pool means a pool of cash- and/or equity-based awards, which shall be reserved for distribution to certain participating employees of the Reorganized Debtors or their Affiliates pursuant to the Management Incentive Plan.
Sample 1
MIP Pool means a pool of stock-based awards, in the form of options, appreciation rights, restricted stock units, restricted stock, or similar awards, as applicable, representing 8% of the aggregate amount of New Common Stock, determined on a fully diluted and fully distributed basis and assuming the exercise of all of the Warrants (the “MIP Equity”), which shall be reserved for distribution to certain participating employees of the Reorganized Debtors or their Affiliates pursuant to the Management Incentive Plan and shall be in accordance with the Restructuring Support Agreement. No less than 50% of the MIP Equity (the “Effective Date MIP Equity Allocation”) will be granted on the Effective Date to such employees in the form of restricted stock units (or the economic equivalent), on other customary terms and conditions for similar type awards, and which shall vest ratably over three years with the breakdown between time and performance based awards being determined by the Reorganized Xxxxxxx Parent Board; provided, however, that the Effective Date MIP Equity Allocation granted on the Effective Date shall be reduced by subtracting a percentage equal to the quotient of $12 million divided by 8% of the stipulated equity value as set forth in the Plan Supplement, which is stipulated equity value subject to the Consenting Creditor Consent Right.
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MIP Pool means seven percent (7%) of the New Interests that are issued and outstanding on the Effective Date, which the New Board (or any successor thereto) will be authorized to award under the Management Incentive Plan, which shall not be subject to dilution on account of the New Interests issued pursuant to the Rights Offering and the Backstop Purchase Agreement.
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MIP Pool has the meaning set forth in Section 6.4(c).
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Related to MIP Pool

  • Cover Pool means the cover pool constituted by, collectively, any Eligible Assets and Top-Up Assets held by the Guarantor in accordance with the provisions of the Securitisation and Covered Bond Law, the Decree No. 310 and the Bank of Italy Regulations.

  • Performance Measure means one or more of the following selected by the Committee to measure Company, Affiliate, and/or business unit performance for a Performance Period, whether in absolute or relative terms (including, without limitation, terms relative to a peer group or index): basic, diluted, or adjusted earnings per share; sales or revenue; earnings before interest, taxes, and other adjustments (in total or on a per share basis); basic or adjusted net income; returns on equity, assets, capital, revenue or similar measure; economic value added; working capital; total shareholder return; and product development, product market share, research, licensing, litigation, human resources, information services, mergers, acquisitions, sales of assets of Affiliates or business units. Each such measure shall be, to the extent applicable, determined in accordance with generally accepted accounting principles as consistently applied by the Company (or such other standard applied by the Committee) and, if so determined by the Committee, and in the case of a Performance Compensation Award, to the extent permitted under Code Section 162(m), adjusted to omit the effects of extraordinary items, gain or loss on the disposal of a business segment, unusual or infrequently occurring events and transactions and cumulative effects of changes in accounting principles. Performance Measures may vary from Performance Period to Performance Period and from Participant to Participant, and may be established on a stand-alone basis, in tandem or in the alternative.

  • Performance Formula means, for a Performance Period, the one or more objective formulae applied against the relevant Performance Goal to determine, with regard to the Performance Compensation Award of a particular Participant, whether all, some portion but less than all, or none of the Performance Compensation Award has been earned for the Performance Period.

  • Performance Period means the one or more periods of time, which may be of varying and overlapping durations, as the Committee may select, over which the attainment of one or more Performance Goals will be measured for the purpose of determining a Participant’s right to, and the payment of, a Performance-Based Award.

  • Performance Cycle means one or more periods of time, which may be of varying and overlapping durations, as the Administrator may select, over which the attainment of one or more Performance Criteria will be measured for the purpose of determining a grantee’s right to and the payment of a Restricted Stock Award, Restricted Stock Units, Performance Share Award or Cash-Based Award, the vesting and/or payment of which is subject to the attainment of one or more Performance Goals. Each such period shall not be less than 12 months.