Benefit and Compensation Plans. (a) Executive shall be entitled during the Term to participate in all executive compensation plans, and other employee and executive benefits, practices, policies and programs of the Company, as presently in effect or as they may be modified or added to by the Company from time to time ("Benefit Plans").
Benefit and Compensation Plans. Stock Option Plans. In 1988, the Company adopted an incentive and non-statutory stock option plan (the "1988 Plan") for which 2,251,834 shares have been reserved for issuance. Following adoption of the 1995 Stock Plan (the "1995 Plan") at the effectiveness of the Company's initial public offering ("IPO"), no further grants have been, or will be, made under the 1988 Plan. Options granted under the 1988 Plan and the 1995 Plan are for periods not to exceed ten years. Exercise prices of incentive stock option grants under both plans must be at least 100% of the fair market value of the stock at the date of grant and for nonstatutory stock options must be at least 85% of the fair market value of the stock at the date of grant. Under both plans, the options generally vest 25% at one year from date of grant, and an additional 1/48 per month thereafter. The Company has reserved 4,400,000 shares of Common Stock for issuance under the 1995 Plan. Upon the closing of the acquisition of HDS in January 1998, the 1997 Non-Statutory Option Plan (the "1997 Plan") became effective. The Company assumed all outstanding HDS options and issued new options at the closing totaling 800,000 shares. No further grants have been, or will be, made under the 1997 Plan. In 1999, the company adopted a non-statutory stock option plan (the "1999 Plan") for which 400,000 shares have been reserved for issuance. Options granted under the 1997 and 1999 Plans were at fair market value and for periods not to exceed ten years with vesting generally under the same terms as the 1988 and 1995 plans. Director Option Plan. Effective upon the IPO, the Company adopted the 1995 Director Option Plan (the "Director Plan") and reserved 100,000 shares of Common Stock for issuance thereunder. The Director Plan provides for the grant of nonstatutory stock options to certain nonemployee directors of the Company pursuant to an automatic, nondiscretionary grant mechanism. 41 HARMONIC INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) The following table summarizes activities under the Plans: WEIGHTED SHARES AVAILABLE STOCK OPTIONS AVERAGE FOR GRANT OUTSTANDING EXERCISE PRICE ---------------- ------------- -------------- (IN THOUSANDS, EXCEPT EXERCISE PRICE) Balance at December 31, 1996............... 210 2,482 $ 3.28 Shares authorized.......................... 960 -- -- Options granted............................ (1,008) 1,008 9.04 Options exercised.......................... -- (370) 1.65 Options canceled...
Benefit and Compensation Plans. The Company has a Section 401-K Employee Benefit Plan, a copy of which has been made available to Purchaser, and has no other employee benefit or compensation plans except as set forth in Section 2.14 of the Disclosure Schedule.
Benefit and Compensation Plans. In no event shall Benefit Plans or Compensation Plans provide Executive with benefits or compensation, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company for Executive under Benefit Plans or Compensation Plans as in effect at any time during the 120-day period immediately preceding the Change of Control or if more favorable to Executive, those provided generally at any time after the Change of Control to other peer executives of the Company. If after a Change of Control (i) Executive terminates his employment with the Company for any reason, or (ii) Executive's employment with the Company is terminated without Cause, the actuarially equivalent value of nonqualified unfunded retirement benefits under any plan, program or arrangement of the Company shall be paid to Executive in a single sum within thirty (30) days after Executive is no longer employed by the Company.
Benefit and Compensation Plans. During the Term, the Executive shall be eligible to participate in the Company’s medical and disability plans and programs, as well as any pension, profit-sharing, bonus, stock award, stock option or similar plan, in each case as may be available to senior executives of the Company from time to time, pursuant to their respective terms and conditions. In addition, if obtainable and structured for tax purposes similar to the long-term disability plan in effect for the Company’s senior executives, if any, the Company shall also provide the Executive with long term disability insurance pursuant to the Company’s group disability policy, in an amount sufficient to pay the Executive an additional $15,000 per month until the otherwise applicable expiration date of the Agreement, in the event the Executive’s employment is terminated on account of long-term disability. Nothing in this Agreement shall preclude the Company or any affiliate of the Company from terminating or amending any employee benefit plan or program from time to time after the Effective Date.
Benefit and Compensation Plans. During the Term, the Executive shall be eligible to participate in the Company’s health, dental and other welfare benefit plans and programs, as well as any pension, profit-sharing, stock award, stock option or similar plan, in each case as may be available to senior executives of the Company from time to time, pursuant to their respective terms and conditions. Nothing in this Agreement shall preclude the Company or any affiliate of the Company from terminating or amending any employee benefit plan or program from time to time after the Effective Date.
Benefit and Compensation Plans. Each benefit and compensation plan, agreement, policy and arrangement that has been established or maintained by the Company and its subsidiaries for current or former employees or directors of, or independent contractors with respect to, the Company or any of its subsidiaries, and with respect to which the Company or any of its subsidiaries could reasonably be expected to have any current, future or contingent liability or responsibility, is in compliance with its terms and the requirements of any applicable statutes, orders, rules and regulations, except where any failure to comply would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; the Company and its subsidiaries are in compliance with all applicable statutes, orders, rules and regulations in regard to such plans, agreements, policies and arrangements, except where any failure to comply would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect;
Benefit and Compensation Plans. (a) The effect of your separation and this Agreement upon your participation in, or coverage under, any of Motorola’s benefit or compensation plans, including but not limited to the Motorola Elected Officers Supplemental Retirement Plan, the Motorola Elected Officers Life Insurance Plan, the Motorola Long Range Incentive Plan for any given performance cycle, the Motorola Incentive Plan, the Motorola Management Deferred Compensation Plan, the Motorola Financial Planning Program, the Motorola Omnibus Incentive Plan of 2006, any other applicable stock option plan and any restricted stock, stock unit or SAR agreements shall be governed by the terms of those plans and agreements. Motorola is making no guarantee, warranty or representation in this Agreement regarding any position that may be taken by any administrator or plan regarding the effect of this Agreement upon your rights, benefits or coverage under those plans.
Benefit and Compensation Plans. 48 SECTION 4.15. Assigned Intellectual Property Rights. . . . . . . . . . . . . 49 SECTION 4.17. Transitional Services. . . . . . . . . . . . . . . . . . . . . 49 SECTION 4.18. Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . 50 SECTION 4.19. Contribution of Certain Assets . . . . . . . . . . . . . . . . 50 SECTION 4.20. Company's Credit Card Program. . . . . . . . . . . . . . . . . 50 SECTION 4.21. Real Property Leases . . . . . . . . . . . . . . . . . . . . . 52
Benefit and Compensation Plans. (a) The account of each person who is an employee of the Company or a Subsidiary on the Closing Date (a "COMPANY EMPLOYEE") in the Tandy Fund (the "401(k) PLAN") attributable to contributions by the Seller, the Company or an affiliate of either shall become fully vested and nonforfeitable as of the Closing. Seller shall take any actions necessary to allow lump sum distributions to be made to Company Employees from the 401(k) Plan in accordance with Section 401(k)(10) of the Code on account of the transactions described in this Agreement. Company Employees shall be allowed to elect such distributions during the period beginning no later than the close of the calendar quarter which follows, or begins on, the Closing Date, and ending on the latest date allowed under Section 401(k)(10) of the Code.
