Common use of Annual Bonus and Incentive Plans; Other Benefits Clause in Contracts

Annual Bonus and Incentive Plans; Other Benefits. During the Employment Period: (i) the Executive shall be entitled to participate in any short-term and long-term incentive programs established and/or maintained by the Company for its senior level executives generally; (ii) the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs of the Company to at least the same extent as other senior executives of the Company; (iii) the Executive and/or the Executive’s family, as the case may be, shall be eligible for participation in, and shall receive all benefits under, all welfare benefit plans, practices, policies and programs provided by the Company to at least the same extent as other senior executives of the Company; and (iv) the Executive shall be entitled to, and the Company shall provide the Executive with 4 weeks of paid Vacation during each calendar year pursuant to the Company’s PTO policy. Executive’s initial Short Term Incentive Target is 75%. Executive’s initial Long Term Incentive Target is 90%.

Appears in 1 contract

Samples: Employment Agreement (PharMerica CORP)

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Annual Bonus and Incentive Plans; Other Benefits. During the Employment Period: (i) the Executive shall be entitled to participate in any short-term and long-term incentive programs established and/or maintained by the Company for its senior level executives generally; (ii) the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs of the Company to at least the same extent as other senior executives of the Company; (iii) the Executive and/or the Executive’s family, as the case may be, shall be eligible for participation in, and shall receive all benefits under, all welfare benefit plans, practices, policies and programs provided by the Company to at least the same extent as other senior executives of the Company; and (iv) the Executive shall be entitled to, and the Company shall provide the Executive with 4 weeks of paid Vacation time off (PTO) during each calendar year pursuant to the Company’s PTO policy. Executive’s 's initial Short Term Incentive Target is 75%80% commencing in 2013, but prorated in 2013 from the Start Date. Executive’s 's initial Long Term Incentive Target is 90%175% commencing in 2014.

Appears in 1 contract

Samples: Employment Agreement (PharMerica CORP)

Annual Bonus and Incentive Plans; Other Benefits. During the Employment Period: (i) the Executive shall be entitled to participate in any short-term and long-term incentive programs established and/or maintained by the Company for its senior level executives generally; (ii) the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs of the Company to at least the same extent as other senior executives of the Company; (iii) the Executive and/or the Executive’s family, as the case may be, shall be eligible for participation in, and shall receive all benefits under, all welfare benefit plans, practices, policies and programs provided by the Company to at least the same extent as other senior executives of the Company; and (iv) the Executive shall be entitled to, and the Company shall provide the Executive with 4 weeks of paid Vacation time off (PTO) during each calendar year pursuant to the Company’s PTO policy. Executive’s initial Short Term Incentive Target is 75%. Executive’s initial Long Term Incentive Target is 90160%.

Appears in 1 contract

Samples: Employment Agreement (PharMerica CORP)

Annual Bonus and Incentive Plans; Other Benefits. During the Employment Period: (i) the Executive shall be entitled to participate in any short-term and long-term incentive programs established and/or maintained by the Company for its senior level executives generally; (ii) the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs of the Company to at least the same extent as other senior executives of the Company; (iii) the Executive and/or the Executive’s family, as the case may be, shall be eligible for participation in, and shall receive all benefits under, all welfare benefit plans, practices, policies and programs provided by the Company to at least the same extent as other senior executives of the Company; and (iv) the Executive shall be entitled to, and the Company shall provide the Executive with 4 weeks of paid Vacation time off (PTO) during each calendar year pursuant to the Company’s PTO policy. Executive’s initial Short Term Incentive Target is 7565%. Executive’s initial Long Term Incentive Target is 90%.

Appears in 1 contract

Samples: Employment Agreement (PharMerica CORP)

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Annual Bonus and Incentive Plans; Other Benefits. During the Employment Period: (i) the Executive shall be entitled to participate in any short-term and long-term incentive programs established and/or maintained by the Company for its senior level executives generally; (ii) the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs of the Company to at least the same extent as other senior executives of the Company; (iii) the Executive and/or the Executive’s 's family, as the case may be, shall be eligible for participation in, and shall receive all benefits under, all welfare benefit plans, practices, policies and programs provided by the Company to at least the same extent as other senior executives of the Company; and (iv) the Executive shall be entitled to, and the Company shall provide the Executive with 4 weeks of paid Vacation time off (PTO) during each calendar year pursuant to the Company’s 's PTO policy. Executive’s 's initial Short Term Incentive Target is 75%80% commencing in 2013, but prorated in 2013 from the Start Date. Executive’s 's initial Long Term Incentive Target is 90%175% commencing in 2014.

Appears in 1 contract

Samples: Employment Agreement (PharMerica CORP)

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