EVA Plan. Executive shall be entitled to continue to participate, as of the Commencement Date, in the Company’s EVA Incentive Compensation Plan (“EVA Plan”) and to be eligible to earn up to 30% of the EVA bonus pool each year during the Term, subject to and in accordance with its terms, as it may be amended from time to time. Such bonus referred to herein as the “Annual Bonus.”
EVA Plan. Executive shall be entitled to participate, as of the Commencement Date, in the Company's EVA Incentive Compensation Plan ("EVA Plan") which was previously adopted by the Company. Notwithstanding the terms of such EVA Plan, the Company agrees: (i) to permit Executive to receive a distribution of the entire balance of his EVA Plan account each year; and (ii) that Executive shall receive a pro rata allocation to his EVA Plan account for all partial EVA Plan years during the term of this Employment Contract and no such amounts shall be forfeited or lost by Executive upon termination by the Company under Section 2(b), 2(c)(ii) or 2(c)(iii) hereof or by the Executive under Section 2(d)(i) or 2(d)(ii) hereof.
EVA Plan. Effective as of the Closing and for the twelve-month -------- period ending February 28, 2002, Bekaert will cause Newco to cover Transferred Employees, who are participants in the MSC EVA Improvement and Incentive Plan (the "EVA Plan") on the Closing Date, by a plan, the terms and conditions of which are comparable to those applicable to MSC/SFI employees under the EVA Plan (the "Newco EVA Plan"). Pursuant to the Newco EVA Plan, Newco will assume the responsibility to pay any bonuses, in addition to any applicable employer related payroll taxes attributable thereto, earned by Transferred Employees under the EVA Plan for the twelve-month period ending February 28, 2002 in accordance with the targets and methodology applicable to the Transferred Employees under the EVA Plan on the Closing Date. The application of the Newco EVA Plan shall not penalize any of the Transferred Employees as a result of the transactions contemplated by this Agreement or the acquisition of NeoVac. In addition, the Newco EVA Plan shall provide that Newco will pay to Transferred Employees the portion of their compensation under the EVA Plan that was "banked" under the EVA Plan as of February 28, 2001, increased or decreased for any changes in the amount banked after February 28, 2001 and through February 28, 2002. If the Newco EVA Plan does not continue the "banking" provisions of the EVA Plan past February 28, 2002, then Newco shall establish a plan pursuant to which the banked amounts will be distributed to Transferred Employees over a period not to exceed five years in accordance with terms of payment that are comparable to those contained in the EVA Plan.
EVA Plan. During the Term, Xx. Xxxx shall not be entitled to participate in the Company’s EVA Incentive Compensation Plan or in any other bonus, equity incentive or other incentive compensation plan of the Company. Notwithstanding, nothing herein shall cause Xx. Xxxx to forfeit his right to receive a distribution of the deferred balance in his EVA account as of the Commencement Date,
