Establishment of Spinco Annual Incentive Plan. Effective as of the Distribution Date, SpinCo shall have adopted an annual incentive plan which shall permit the issuance of annual incentive awards on terms and conditions substantially comparable to those under the RemainCo Short-Term Incentive Compensation Plan (provided that the payment amounts and individual performance criteria shall be established in the discretion of the SpinCo Board of Directors or the SpinCo Committee).
Appears in 4 contracts
Samples: Employee Matters Agreement (Batesville Holdings, Inc.), Employee Matters Agreement (Batesville Holdings, Inc.), Employee Matters Agreement (Hillenbrand, Inc.)
Establishment of Spinco Annual Incentive Plan. Effective as of on the Distribution Date, SpinCo shall Spinco (or its affiliate) will have adopted an annual incentive plan which shall permit for the 2008 fiscal year that permits the issuance of annual incentive awards on terms and conditions substantially comparable to those under the RemainCo Short-Term PNX Annual Incentive Compensation Plan (Plan, provided that the payment amounts and individual performance criteria shall be established in the discretion of the SpinCo Spinco Board of Directors or the SpinCo Committee)Compensation Committee thereof.
Appears in 3 contracts
Samples: Employee Matters Agreement (Virtus Investment Partners, Inc.), Employee Matters Agreement (Phoenix Companies Inc/De), Employee Matters Agreement (Virtus Investment Partners, Inc.)
Establishment of Spinco Annual Incentive Plan. Effective as of on the Distribution Date, SpinCo shall Spinco (or its affiliate) will have adopted an annual incentive plan which shall permit for the 2009 fiscal year that permits the issuance of annual incentive awards on terms and conditions substantially comparable to those under the RemainCo Short-Term Parent Annual Incentive Compensation Plan (Plan, provided that the payment amounts and individual performance criteria shall be established in the discretion of the SpinCo Spinco Board of Directors or the SpinCo Committee)Compensation Committee thereof.
Appears in 2 contracts
Samples: Employee Matters Agreement (Michigan Commerce Bancorp LTD), Employee Matters Agreement (Michigan Commerce Bancorp LTD)
