Reward Plan definition
Examples of Reward Plan in a sentence
Employee may, as determined by the Board (or a designated committee thereof) in its sole discretion, periodically receive grants of, or payments under, equity or non-equity related awards pursuant to the Company’s long-term incentive plan(s), including the APO Incentive Plan, the APO Reward Plans, the SWR Reward Plan, the APO Working Interest Trusts, the APO Working Interest Grant, or any similar or successor plan(s) (collectively, “Incentive Plans”), subject to the terms and conditions thereof.
In the event the RAD Reward Plan is no longer available, the College may implement a substantially equivalent plan.
If it does not agree with the changes made to the Reward Plan as a result of any breach mentioned under articles 3.9 and/or 6.6 of this Agreement.
Prior to the Effective Date Employee may have, as determined by the Board (or a designated committee thereof) in its sole discretion, previously received grants of, or payments under, non-equity related awards pursuant to the APO Incentive Plan, the APO Reward Plans, the SWR Reward Plan, the APO Working Interest Trusts, the APO Working Interest Grant (collectively, the “APO Plans”), subject to the terms and conditions thereof.
The amount recognised as an expense is only adjusted when the SPRs do not vest due to non-market related conditions.The fair value of shares granted to eligible employees under the Share Reward Plan is recognised as an employee expense, with a corresponding increase in equity.
The award was received in the form of performance share rights under arrangements approved by shareholders at the 2009 Annual General Meeting.The CEO will receive a further equity-based LTI award of $2.7 million in December 2010 for 2011, subject to shareholder approval at the 2010 Annual General Meeting.Senior ExecutivesSenior Executives (except Bob McKinnon) receive annual LTI awards of performance share rights under the Westpac Reward Plan.
Senior Executives receive annual LTI awards of performance share rights under the Westpac Reward Plan.In previous years, the CEO and Senior Executives were eligible for awards of performance options under the Westpac Reward Plan.
Employee may, as determined by the Board (or a designated committee thereof) in its sole discretion, periodically receive grants of, or payments under, equity or non-equity related awards pursuant to the Company's long-term incentive plan(s), including the APO Incentive Plan, the APO Reward Plans, the SWR Reward Plan, the APO Working Interest Trusts, the APO Working Interest Grant, or any similar or successor plan(s) (collectively, “Incentive Plans”), subject to the terms and conditions thereof.
Around 90 per cent of those eligible are now benefiting from this arrangement.Since 2005 our Employee Reward Plan (ERP) has allowed non-management employees to share in the success of the business based on the achievement of corporate measures and targets.
The Reward Plan provides eligible employees with up to $1,000 of ordinary shares per annum at no cost.