Long Term Incentive Bonus. During the Term, the Executive shall be entitled to participate in the Company’s then-prevailing long-term incentive plan (“Long-Tenn Incentive”). The Executive’s actual Long-Term Incentive for a given year, if any, shall be determined on the basis of the Executive’s and/or the Company’s attainment of objective financial and/or other subjective or objective criteria established by the Board and communicated to the Executive at the beginning of such year. Each such Long-Term Incentive shall be payable on such date as is determined by the Board, but in any event within the period required by Section 409A of the Code such that it qualifies as a “short-term deferral” pursuant to Section l.409A-l(b)(4) of the Department of Treasury Regulations (or any successor thereto). Notwithstanding the foregoing, no Long-Term Incentive shall be payable with respect to any calendar year unless the Executive remains continuously employed with the Company through the date of payment, except as otherwise provided in Section 5.
Long Term Incentive Bonus. Executive is eligible to receive a long term incentive bonus under the Company Long Term Incentive Bonus Plan, which has been established under the Bonus Plan or any successor plan (the "LTI Plan"). For each fiscal year through and including fiscal 2009, there shall be credited to Executive's LTI bonus account under the LTI Plan (the "LTI Account") an amount equal to a portion of his base salary for such fiscal year multiplied by a percentage factor that shall be (a) targeted at fifty percent of his targeted annual incentive bonus percentage for such fiscal year determined under paragraph 3.2.1 and (b) not greater than one hundred percent of his targeted annual incentive bonus percentage for such fiscal year, the actual amount of such factor to be set by the Committee based on achievement of pre-determined goals set forth in writing and based on objective measurements. The Committee must verify that the performance goals and other material terms have been met prior to crediting the LTI Account. Executive will not be eligible to receive a long term incentive bonus contribution to his account under the LTI Plan for fiscal 2010. Executive will receive payment of: (a) one-third of the amount in the LTI Account on the first business day of each fiscal year beginning in fiscal 2008; and (b) the entire remaining amount in the LTI Account on death, disability or termination of employment. It is the Company's intention that the LTI Plan be adopted and administered in a manner that enables Company to deduct for federal income tax purposes all amounts paid pursuant to the LTI Plan.
Long Term Incentive Bonus. You will receive a grant of 50,000 phantom units in accordance with the Phantom Unit Grant Agreement attached hereto as Exhibit A.
Long Term Incentive Bonus. During the Term of Employment, the Employee shall be entitled to a long term incentive bonus (the “LTI Bonus”) equal to Seven Hundred Thousand Dollars ($700,000). The LTI Bonus is payable One Hundred and Seventy-five Dollars ($175,000) on each anniversary of the Effective Date, until paid in full. Payment of the LTI Bonus is contingent on the Employee’s continued employment with the Company and the Employee forfeits any portion of the LTI Bonus that is unpaid on the Employee’s termination date.
Long Term Incentive Bonus. For the Company's fiscal year ("Fiscal Year") 2008 Executive shall be given the opportunity to earn a long term incentive bonus under terms and conditions set forth in the Company's Long Term Incentive Plan ("LTIP Plan"). Executive's long term incentive bonus opportunity for Fiscal Year 2008 shall be equal to one-hundred percent (100%) of his base annual salary. This award is referred to as the "LTIP Target Bonus". One-half of the LTIP Target Bonus is payable as the retention component in the form of restricted stock. The remaining one-half of the LTIP Target Bonus is performance vesting restricted stock based on achievement of predetermined performance criteria over a two year measurement period.
Long Term Incentive Bonus. The Executive will be eligible to participate in a forthcoming Parent’s USA Executive Long Term Incentive Bonus plan. The Executive will have a target incentive bonus of $300,000 under the plan, to be earned in accordance with the terms and conditions of the plan, based on achievement of company performance objectives and certain other measures, and payable if, and only if, the Executive is continuously employed by the Company through and on the third anniversary of the Effective Date.
Long Term Incentive Bonus. Employee will have the opportunity to earn additional compensation under the terms of that certain Long-Term Incentive Bonus Plan attached hereto as Exhibit A (the 'LTI Plan").
Long Term Incentive Bonus. Executive shall be entitled receive a long term incentive bonus (the “Long Term Bonus”) in an amount described below if (1) Executive remains continuously employed by the Company, or any Subsidiary or Affiliate (as such terms are defined in the Stock Plan) through the Expiration Date, or (2) any of the following events occur prior to the Expiration Date: (a) Executive’s employment is terminated by the Company without Cause, (b) Executive terminates his employment with the Company for Good Reason, or (c) Executive’s employment with the Company terminates by reason of Executive’s death or Disability prior to the Expiration Date. Executive shall not be entitled to any portion of the Long Term Bonus unless and until one of the conditions described in the preceding sentence has occurred. In the event that the Long Term Bonus becomes payable because Executive satisfied the condition described in clause (1) of the preceding sentence, the Long Term Bonus shall be an amount (the “Expiration Long Term Bonus Amount”) equal to 17,625 (the “Share Number”) multiplied by the excess of $340 (the “Target Price”) over the Fair Market Value (as defined in the Stock Plan) of the Common Stock, as determined on the Expiration Date. In the event that the Long Term Bonus becomes payable based on Executives termination of employment under any of the conditions described in clause (2) of the preceding sentence, the Long Term Bonus shall be an amount (the “Termination Long Term Bonus Amount”) equal to the Share Number multiplied by the excess of the Target Price over the Fair Market Value of the Common Stock on the date of the termination Executive’s employment with the Company. For purposes of this paragraph, reference to the Company shall include its Subsidiaries and Affiliates. In the event that the Common Stock is subdivided or consolidated, without receipt of consideration by the Company (including, without limitation in connection with an initial public offering of the Common Stock), (i) in the event of an increase in the number of outstanding shares, the Share Number shall be proportionately increased and the Target Price shall be proportionately reduced, and (ii) in the event of a reduction in the number of outstanding shares, the Share Number shall be proportionately reduced and the Target Price shall be proportionately increased, as if (A) the Share Number were a number of shares subject to a Restricted Stock Award Agreement under the Stock Plan and the Target Price were t...
Long Term Incentive Bonus. In addition to the Executive Annual Incentive ------------------------- Plan referenced above, the General Counsel and Corporate Secretary is generally eligible to participate in the Executive Long-Term Incentive Plan, based upon corporate financial objectives. Current long-term incentive cycles are three years in duration, as set forth in the Company's 2003-2005 Long-Term Incentive Plan (the "2003 LTIP"). Pursuant to the 2003 LTIP, the General Counsel and Corporate Secretary qualifies for a long-term plan payout potential totaling 30% at gate, 50% at target, and 100% at stretch. Payout percentages are applied to an executive's annualized base salary, effective the end of December of the last year in the three-year cycle. Actual payouts currently consist of a combination of cash, restricted common stock and nonqualified stock options and are paid as soon as practical following the end of the last year in the applicable three-year cycle, if and as eligible. Your effective date of participation in the nonqualified stock option portion of the LTIP will be January 1, 2004. Your effective date of participation in the cash and restricted stock portion of the LTIP will be the first day of the calendar month following your date of employment. The first two years of eligibility in the cash and restricted stock portion of the LTIP are prorated based upon the length of time covered during the period. Signing Bonus: * $25,000 less applicable taxes. A prorated ------------- portion is payable back to the Company if termination occurs within the first 12 months following employment date. * 4000 shares of CTC restricted stock with 2000 shares vesting January 1, 2005 and 2000 shares vesting January 1, 2006. Car Allowance: $666.67 monthly (equivalent to $8,000 per ------------- year), less applicable deductions required by law. Relocation: $60,000 to be advanced as needed for ---------- relocation expenses. A prorated portion is subject to repayment if employment is terminated within first 12 months following employment date.
Long Term Incentive Bonus. Executive shall be eligible to participate in an equity grant program intended to qualify as performance-based compensation under Internal Revenue Code section 162(m) existing from time to time for its executives. Executive shall receive an annual grant of equity compensation in the form of stock options based on the achievement of the following market cap thresholds:
