Incentive Compensation Award. “Incentive Compensation Award” shall have the meaning set forth in the LTIP.
Incentive Compensation Award. The Executive shall also be eligible to receive annual incentive bonuses consisting of cash and/or options to purchase Company common stock consistent with annual incentive awards for other members of the senior management team. The payment of such bonuses shall be based on the performance and satisfaction of specific milestones mutually agreed upon by the Chief Executive Officer and the Executive, and shall be further based upon the Executive’s performance as evaluated by the Chief Executive Officer. In no event shall the payment of any annual incentive bonus to the Executive be made later than March 15 of the calendar year next following the calendar year during which such annual incentive bonus is earned.
Incentive Compensation Award. Subject to and pursuant to all terms and conditions stated in this Agreement and in the Plan, as of the Grant Date, Alpha hereby makes a Performance Grant to the Award Recipient in the form of performance-based incentive compensation, payable in cash (the “Incentive Compensation”). The amount of the Incentive Compensation covered by and subject to the terms of this Agreement is set forth on Exhibit A.
Incentive Compensation Award. The Executive shall also be eligible to receive annual incentive bonuses consisting of cash and/or options to purchase Company common stock consistent with annual incentive awards for other members of the senior management team. The payment of such bonuses shall be based on the performance and satisfaction of specific milestones mutually agreed upon by the Chief Executive Officer (or such other executive of the Company to whom the Executive might directly report to) and the Executive, and shall be further based upon the Executive’s performance as evaluated by the Chief Executive Officer or such other executive of the Company to whom the Executive might directly report to. In no event shall the payment of any annual incentive bonus to the Executive be made later than March 15 of the calendar year next following the calendar year during which such annual incentive bonus is earned.
Incentive Compensation Award. The Executive shall also receive annual incentive bonuses consisting of: 1) cash bonus of up to $15,000; and 2) options to purchase Company common stock up to 5,000 options, with the aggregate of all such annual bonus options not to exceed 20,000. The payment of such bonuses shall be based on the performance and satisfaction of specific milestones mutually agreed upon by the Chief Executive Officer and the Executive within three (3) months of the execution of this Agreement, and shall be further based upon the Executive's performance as evaluated by the Chief Executive
Incentive Compensation Award. Subject to the terms and conditions of this Award and of the Plan, which are incorporated herein by reference, the Corporation hereby establishes a program of “Incentive Compensation” for Xxxxx. Maier’s Incentive Compensation consists of an opportunity to earn Base Incentive Compensation (defined in sub-paragraph b below) and Incremental Incentive Compensation (defined in sub-paragraph d below).
Incentive Compensation Award. The Executive may receive annual incentive bonuses consisting of options to purchase Company common stock, with the aggregate of all such annual bonuses not to exceed 20,000 options. The payment of such bonuses shall be based on the performance and satisfaction of specific milestones mutually agreed upon by the Chief Executive Officer and the Executive within one (1) month of the execution of this Agreement, and shall be further based upon the Executive's performance as evaluated by the Chief Executive Officer. Any such options issued pursuant to such annual incentive bonuses shall be substantially in the form attached hereto as Exhibit A. Executive acknowledges that Incentive Compensation will be principally in the form of the above-discussed Company stock options. The Executive may, or may not, receive an additional annual incentive cash bonus.
Incentive Compensation Award. The Executive shall be eligible to receive an annual incentive cash bonus as may be granted by the Board or the Compensation Committee of the Board under any executive bonus or incentive plan in effect from time to time (the “Annual Incentive Award”). The amount of any Annual Incentive Award shall be determined by the Compensation Committee based upon the satisfactory performance of goals set mutually by the Board and the Executive on an annual basis. In no event shall the payment of any Annual Incentive Award to the Executive be made later than March 15 of the calendar year next following the calendar year during which such Annual Incentive Award is earned.
Incentive Compensation Award. Executive shall be entitled to an Incentive Compensation Award, in accordance with the CNA Financial Corporation Incentive Compensation Plan for Certain Executive Officers (the "Incentive Compensation Plan"). The amount of the Incentive Compensation Award shall be based on the performance of the Company and its subsidiaries during the performance period of the 3d and 4th quarters of calendar year 1999, and during the performance periods of calendar years 2000, 2001, and 2002, respectively, and the award for each performance period shall be payable in a cash lump sum as soon as practicable after the end of the period, but in no event prior to the date on which the Committee, as that term is defined in the Incentive Compensation Plan (the " Committee"), certifies the amount, if any, which has been earned for the period. The amount of the Incentive Compensation Award for Executive shall be determined according to the performance criteria and amounts established by the Committee in its August 4, 1999 meeting subject to the annual review and certification by the Committee of the awards. The actual amount of the Incentive Compensation Award payable to Executive with respect to the 3d and 4th quarters of calendar year 1999 and calendar years 2000, 2001 and 2002 shall be determined by the Committee based on Executive's and the Company's overall performance, but in all events the amount of the Incentive Compensation Award shall not be less than 75% nor more than 100% of the calculation of the awards based on the preliminary criteria and amounts established by the Committee in its August 4, 1999 meeting. For purposes of this paragraph (b), the term "Net Income" shall have the meaning ascribed to it in the Incentive Compensation Plan; provided that, for the avoidance of doubt, it is recited here that the term "Net Income" of the Company and its subsidiaries for any performance period shall mean the after tax Net Income of the Company and all of its subsidiaries for the performance period as reflected on the companies' audited consolidated financial statements for such performance period as filed with the Securities and Exchange Commission less an amount equal to the "Net Realized Investment Gains" included in Net Income as reported in the audited consolidated financial statements, but increased by an amount equal to the "Net Realized Investment Losses" included in Net Income as reported in the audited financial statements. The foregoing notwithstanding, (I) the Net I...
Incentive Compensation Award. Executive shall be entitled to an Incentive Compensation Award, in accordance with the CNA Financial Corporation Incentive Compensation Plan for Certain Executive Officers (the "Incentive Compensation Plan") on terms no less favorable to the Executive than the performance criteria and amounts established by the Incentive Compensation Committee (the "Committee") in its August 4, 1999 meeting (the "Performance Criteria"). The establishment of the Performance Criteria by the Committee shall constitute the establishment of performance criteria under the Incentive Compensation Plan for each of the years included in the term of this Agreement, and payment of the Incentive Compensation Awards shall otherwise be in accordance with the provisions of the Incentive Compensation Plan, including the requirement of annual review and certification by the Committee of the awards; provided that satisfaction of the Performance Criteria shall be based on net income as defined in the Incentive Compensation Plan; and provided further that the Committee shall not exercise its negative discretion under the Incentive Compensation Plan to decrease the amount of the Incentive Compensation Award for any year by more than 10 percent.
