Long-Term Cash Awards Sample Clauses
Long-Term Cash Awards. Effective as of the Operational Separation Date, (i) HP shall be solely responsible for paying, when due, all long-term restricted cash awards held by HPI Employees as of the Operational Separation Date and (ii) Enterprise shall be solely responsible for paying, when due, all long-term restricted cash awards held by Enterprise Employees as of the Operational Separation Date.
Long-Term Cash Awards. No later than the Distribution Date (or, if earlier, the Employment Transfer Date), SpinCo and/or the members of the SpinCo Group shall assume any outstanding long-term cash awards held by SpinCo Participants (including with respect to Delayed Transfer SpinCo Employees), and such awards shall remain subject to the same terms and conditions (including vesting and payment schedules) as applied as of immediately prior to the Distribution (or, if earlier, the Employment Transfer Date).
Long-Term Cash Awards. During your employment, you will be eligible to participate in the Company’s Incentive Compensation Plan (and any successor plan) for each performance period starting with and after the Company’s fiscal year beginning January 29, 2006 (your“Long-Term Cash Award"). However, on your Start Date you will be deemed to participate in each of the 2004-2006 and 2005-2007 performance cycles that are already in progress under such plan (1) subject to the achievement of the performance goals that are already established for each cycle and (2) based on a target cash award of $450,000 for the 2004-2006 cycle and a target cash award $450,000 for the 2005-2007 cycle, in each case multiplied by the number of elapsed days between your Start Date and the last day of the applicable cycle (or if earlier the effective date of early termination of your employment) divided by 1095. In addition, your minimum target cash award for the 2006-2008 performance cycle established by the Board (or the Board’s Compensation Committee) will be $450,000.
Long-Term Cash Awards. Executive’s Long Term Cash Awards (including any continued, converted, assumed or substituted awards in respect of such Long Term Cash Awards) shall vest upon Executive’s termination of employment and be payable as follows: (i) for Long Term Cash Awards for which the performance period has ended before the termination of employment, payment shall be at the level of achievement attained (but not previously paid) during the performance period; (ii) for Long Term Cash Awards for which the performance period has not ended before the termination of employment, payment shall be at the pro-rated level of performance achieved (but not previously paid) as of the end of the last fiscal quarter before the termination of employment regardless of whether the quarter end was a regular performance measurement or payment point under the original Long Term Cash Award. The Company shall pay Executive for any such Long Term Cash Awards in a cash lump sum on the sixtieth (60th) day following the closing of the termination of employment.
4. Section 3 is deleted in its entirety and replaced with the following: