Incentive Compensation Clause Examples

Incentive Compensation. For the services to be rendered hereunder by Financial Adviser, Masterworks Investor Services, LLC (“Masterworks”) has agreed to compensate the Financial Adviser (the “Compensation”) with a variable sales commission and finder’s fee of up to 3% of the total dollar amount of equity capital raised pursuant to the Potential Transaction (the “Sales Commission”).

Incentive Compensation. Executive shall be eligible to participate in any short-term incentive plan (“STIP”) and long-term incentive plan (“LTIP”) (or, in each case, successor plans or arrangements) as may be established by Employers for senior executives at levels comparable to those offered to other comparable senior executives, with award opportunities established for each applicable performance period by the Boards or the Compensation Committee (respectively, “Short-Term Incentive Compensation” and “Long-Term Incentive Compensation” and together “Incentive Compensation”). Threshold, target, superior and maximum corporate performance levels may be established by the Boards or the Compensation Committee for each performance period based on earnings growth, profitability, asset quality and/or other performance metrics as determined by the Boards or the Compensation Committee and shall be subject to the terms of the specific plan and award agreement (or other similar documentation). Specific STIP and LTIP criteria may change from time to time. Entitlement to and payment of Incentive Compensation is subject to the discretion and approval of the Boards or the Compensation Committee. Any Short-Term Incentive Compensation shall be payable, in the discretion of the Boards or the Compensation Committee, in cash or shares of Holding Company common stock (or a combination thereof) by no later than March 15 of the year following the calendar year in which the STIP award is earned, in accordance with Employers’ normal practices for the payment of Short-Term Incentive Compensation (or otherwise in a manner intended to be exempt from, or to comply with Code Section 409A). To be entitled to any payment of Short-Term Incentive Compensation from Employers, Executive must be employed by an Employer on the last day of the applicable performance period to which the Short-Term Incentive Compensation relates except as otherwise provided in Agreements paragraph 6 and 7 herein. Any Long-Term Incentive Compensation earned shall be payable, in the discretion of the Boards or the Compensation Committee, in cash or shares of Holding Company common stock (or a combination thereof) by no later than March 15 of the year immediately following the end of the applicable performance year period, in accordance with Employers’ normal practices for the payment of Long-Term Incentive Compensation (or otherwise in a manner intended to be exempt from, or comply with, Code Section 409A). To be entitled to any payment o...

Incentive Compensation. Executive shall be entitled to participate in discretionary bonuses or other incentive compensation programs that the Board of Directors may award from time to time to senior management employees pursuant to bonus plans, or otherwise.

Incentive Compensation. For the services to be rendered hereunder by each of the Co-Managers, Masterworks has agreed to compensate each of the Co-Managers with a variable sales commission and finder’s fee which, in the aggregate, will not exceed 3.0% of the total dollar amount of equity capital raised pursuant to the Offering (the “Sales Commission”).

Incentive Compensation. During the Employment Term, Executive shall be entitled to participate in all short-term and long-term incentive programs established by the Company for its senior level executives generally, at levels commensurate with the benefits provided to other senior executives and Executive’s position with the Company. Executive’s incentive compensation shall be subject to the terms of the applicable plans and shall be determined based on Executive’s individual performance and Company performance as determined by the Board (or a committee of the Board).

Incentive Compensation. The Executive will be eligible to participate in any short-term and long-term incentive compensation plans, annual bonus plans and such other management incentive programs or arrangements of the Company approved by the Board that are generally available to the Company’s senior executives, including, but not limited to, the STIP and the LTSIP. Incentive compensation shall be paid in accordance with the terms and conditions of the applicable plans, programs and arrangements.

Incentive Compensation. Executive will be eligible to receive incentive compensation, the terms, amount and payment of which shall be determined by Company in its sole and absolute discretion.

Incentive Compensation. The Executive shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executive’s initial target annual incentive compensation shall be 40 percent of the Executive’s Base Salary. The target annual incentive compensation in effect at any given time is referred to herein as “Target Bonus.” The actual amount of the Executive’s annual incentive compensation, if any, shall be determined in the sole discretion of the Board or the Compensation Committee, subject to the terms of any applicable incentive compensation plan that may be in effect from time to time. To earn incentive compensation, the Executive must be employed by the Company on the day such incentive compensation is paid.

Incentive Compensation. The Executive shall be entitled to annual bonus compensation, if any, as determined by the Board of Directors of the Company or the Bank pursuant to any incentive compensation program as may be adopted from time to time by the Company or the Bank.