Annual Incentive Plans Clause Samples

Annual Incentive Plans. The Corporation shall pay to the Executive, in cash, in a lump sum, on the Payment Date, a payment equal to the greater of (i) two times the Executive’s target bonus as of the Date of Termination or (ii) two times the average of the annual bonus paid to the Executive by the Corporation in respect of the three complete fiscal years of the Corporation immediately preceding the Effective Date (for any such complete fiscal year for which the Executive was not eligible for an annual bonus, the Executive’s target bonus as in effect immediately prior to the Effective Date) ((i) or (ii), the “Applicable Bonus”).

Annual Incentive Plans. You will be eligible to participate in the Company’s annual incentive plan (Incentive Compensation Plan or ICP) on a basis consistent with those of comparable executives. Your target award will be based upon the Incentive Compensation Plan target percentage for your position within the Company multiplied by your base salary at the end of the fiscal year. Actual award payments will be in accordance with the terms of the Incentive Compensation Plan and may be adjusted to reflect Company performance and your individual performance as approved by the Committee.

Annual Incentive Plans. SpinCo shall establish annual incentive plans for 2024 and be responsible for the payment of annual incentives to SpinCo Employees thereunder. Parent shall retain all Liabilities with respect to any incentives payable under its annual incentive plans to Parent Employees in respect of 2024.

Annual Incentive Plans. (a) Not later than the Distribution Date, Flowco shall, or shall cause another member of the Flowco Group to, take commercially reasonable steps to adopt a plan (or plans) that will provide annual bonus or short-term cash incentive opportunities for Flowco Employees that are substantially similar to the opportunities provided to such Flowco Employees immediately prior to the Distribution Date (the “Flowco Annual Bonus Plan”), subject to Flowco’s right to amend or terminate such plan after the Distribution Date in accordance with the terms thereof. The Flowco Annual Bonus Plan shall be approved prior to the Distribution Date by SPX to the extent determined necessary by SPX under Code Section 162(m). Flowco Employees shall participate in such Flowco Annual Bonus Plan (provided the eligibility requirements therein are met) immediately following the Distribution Date; provided, however, that for the 2015 performance period, in determining whether the performance goals under the Flowco Annual Bonus Plan have been achieved, Flowco may take into account the financial and operational performance of the Flowco Business (or applicable portion thereof) prior to the Distribution Date, and service with SPX shall be credited for the purposes of determining whether such Flowco Employee had been a participant in the Flowco Annual Bonus Plan during such performance period. For avoidance of doubt, with respect to the 2015 performance period, Flowco Employees shall not be eligible for any payment from any SPX annual bonus plan or short-term incentive compensation plan, including the SPX 2015 Bonus Plan, on or after the Distribution Date. (b) For the avoidance of doubt, (i) the Infrastructurco Group shall be solely responsible for funding, paying, and discharging all obligations relating to any annual cash incentive awards that any Infrastructurco Employee or Former Employee is eligible to receive under any Infrastructurco Group annual bonus plans and other short-term incentive compensation plans, including the SPX 2015 Bonus Plan, with respect to payments made beginning at or after the Distribution Date, and no member of the Flowco Group shall have any obligations with respect thereto, and (ii) the Flowco Group shall be solely responsible for funding, paying, and discharging all obligations relating to any annual cash incentive awards that any Flowco Employee is eligible to receive under any Flowco Group annual bonus and other short-term incentive compensation plans, includi...

Annual Incentive Plans. The Corporation shall pay to the Executive, in cash, in a lump sum, no later than the Payment Date, an amount in lieu of his participation in the Annual Incentive Plans in which he is participating as of the Notice of Termination, such payment to be equal to: (i) two times the average of the annual amounts paid to the Executive under the Annual Incentive Plans (excluding for greater certainty any special awards thereunder) in respect of the three complete fiscal years of the Corporation immediately preceding the Date of Termination, and (ii) (in cases where the Date of Termination is not the end of a fiscal year), a pro rata payment for the number of days which have elapsed in the fiscal year in which the Date of Termination occurs, based on the same calculation described above. For the purposes of this Section 5.0(d), where the Date of Termination is prior to the completion of three complete fiscal years of amounts payable to the Executive under the Annual Incentive Plans, the average of amounts paid to the Executive under such Plans shall be determined based the average of amounts paid to the Executive under such Plans for each complete fiscal year of the Corporation immediately preceding the Date of Termination.

Annual Incentive Plans. The Corporation shall pay to the Executive, in cash, in a lump sum, no later than the Payment Date, an amount in lieu of her participation in the HPR Plan, or in any other annual incentive compensation plan or program, or any replacement plan in which she is participating as of the Notice of Termination which shall be equal to (i) two times the average of the amounts paid to her under the HPR Plan (excluding for greater certainty any President’s Award) in respect of the three complete fiscal years of the Corporation immediately preceding the Date of Termination, and (ii) (in cases where the Date of Termination is not the end of a fiscal year), a pro rata payment for the number of days which have elapsed in the fiscal year in which the Date of Termination occurs, based on the same calculation described above. For the purposes of this Section 5.0(d), where the Date of Termination is prior to the completion of three complete fiscal years of the Corporation following the implementation of the HPR Plan, the average of amounts paid to the Executive under the HPR Plan shall be determined based on each complete fiscal year of the Corporation immediately preceding the Date of Termination.

Annual Incentive Plans. Effective as of the end of Houston’s 2016 fiscal year, Houston and ▇▇▇▇▇▇▇ shall have taken such actions, or caused the taking of such actions, as are necessary to ensure that for fiscal year 2017, (i) all Houston Employees are covered by the Houston Incentive Plans and (ii) all ▇▇▇▇▇▇▇ Employees are covered by the ▇▇▇▇▇▇▇ Incentive Plans. Houston shall be solely responsible for determining the amount of, and paying, all awards due to be paid to Houston Employees and Former Employees who were participants in the Houston Incentive Plans at the time of separation from employment, under the Houston Incentive Plans, whether earned before, on or after the Operational Separation Date. ▇▇▇▇▇▇▇ shall be responsible for determining, subject to the reasonable approval of Chicago, the amount, and paying, of all awards due to be paid to ▇▇▇▇▇▇▇ Employees and Former Employees who were participants in the ▇▇▇▇▇▇▇ Incentive Plans at the time of separation from employment, under the ▇▇▇▇▇▇▇ Incentive Plans, whether earned before, on or after the Operational Separation Date.

Annual Incentive Plans. Pfizer shall retain and perform all Liabilities with respect to the participation of each Company Transferred Employee who is participating in any cash-based annual bonus or other annual incentive compensation plan of a Pfizer Group member with respect to performance periods that are ongoing as of December 31, 2012 and completed performance periods as of December 31, 2012. Effective as of January 1, 2013, the Company shall establish an annual bonus or other cash-based annual incentive compensation plan for the benefit of eligible Company Transferred Employees and shall be responsible for the annual bonus payable to the Company Transferred Employees in respect of the full 2013 calendar year.

Annual Incentive Plans. FTX gives annual cash bonuses to certain employees, including persons who will be employed by Newco, under several benefit plans, including a benefit plan of its affiliate, FM Services Company. 1. Prior to the merger FTX will determine the aggregate amount of bonuses and other amounts to be paid or contributed by it under such plans for 1997, which shall not exceed $7,500,000, and prior to the merger FTX will either pay such amounts or transfer the obligation to pay such amounts to FM Services Company and Newco for payment under their annual incentive plans, accordingly. 2. IGL will have no responsibility for the payment of such 1997 bonuses.