Examples of Section 16 Persons in a sentence
With respect to Section 16 Persons, transactions under this Plan are intended to comply with all applicable conditions of Rule 16b-3.
Award Agreements evidencing Incentive Stock Options shall contain such terms and conditions as may be necessary to meet the applicable provisions of Section 422 of the Code.4.3 Limitations Applicable to Section 16 Persons.
The Board or the Compensation Committee may appoint and delegate to another committee (“Management Committee”), or to the CEO, any or all of the authority of the Board or the Committee, as applicable, with respect to Awards to Grantees other than Grantees who are executive officers, Non-Employee Directors, or Section 16 Persons at the time any such delegated authority is exercised.
Performance Periods of Awards granted to Section 16 Persons shall, in all cases, exceed six (6) months in length (or such shorter period as may be permissible while maintaining compliance with Rule 16b-3).
Longevity A longevity payment will be added to the salary of full-time employees on Schedule 2 (prorated for part- time employees on Schedule 2) who have been frozen on the highest step without a step advancement as shown below.