{"component": "clause", "props": {"groups": [{"size": 7, "snippet_links": [{"key": "subject-to", "type": "definition", "offset": [0, 10]}, {"key": "grant-of-stock-options", "type": "clause", "offset": [84, 106]}, {"key": "award-cycle", "type": "definition", "offset": [186, 197]}, {"key": "incentive-plan", "type": "clause", "offset": [222, 236]}, {"key": "grants-of-stock-options", "type": "clause", "offset": [268, 291]}, {"key": "performance-bonus-awards", "type": "clause", "offset": [295, 319]}, {"key": "outstanding-stock-options", "type": "definition", "offset": [377, 402]}, {"key": "immediately-upon", "type": "clause", "offset": [413, 429]}, {"key": "assignment-period", "type": "clause", "offset": [472, 489]}, {"key": "release-requirements", "type": "clause", "offset": [513, 533]}, {"key": "five-years", "type": "definition", "offset": [580, 590]}, {"key": "date-of-separation", "type": "clause", "offset": [601, 619]}, {"key": "expiration-date", "type": "definition", "offset": [632, 647]}, {"key": "to-exercise", "type": "clause", "offset": [662, 673]}, {"key": "exercise-period", "type": "clause", "offset": [704, 719]}, {"key": "participation-in-ltip", "type": "clause", "offset": [837, 858]}, {"key": "full-participation", "type": "definition", "offset": [915, 933]}, {"key": "determination-of-the-amount", "type": "clause", "offset": [1138, 1165]}, {"key": "covered-by", "type": "definition", "offset": [1237, 1247]}, {"key": "sole-discretion", "type": "definition", "offset": [1303, 1318]}, {"key": "the-ecc", "type": "clause", "offset": [1322, 1329]}, {"key": "payable-at", "type": "definition", "offset": [1368, 1378]}, {"key": "ltip-awards", "type": "definition", "offset": [1393, 1404]}, {"key": "payable-to", "type": "definition", "offset": [1409, 1419]}, {"key": "ltip-participants", "type": "definition", "offset": [1426, 1443]}, {"key": "to-defer", "type": "definition", "offset": [1466, 1474]}, {"key": "pursuant-to-the", "type": "definition", "offset": [1501, 1516]}, {"key": "employed-by", "type": "definition", "offset": [1599, 1610]}, {"key": "for-purposes-of-this", "type": "clause", "offset": [1673, 1693]}, {"key": "letter-agreement", "type": "definition", "offset": [1694, 1710]}, {"key": "award-grants", "type": "clause", "offset": [1757, 1769]}, {"key": "ltip-grants", "type": "definition", "offset": [1803, 1814]}, {"key": "the-right", "type": "clause", "offset": [1844, 1853]}, {"key": "in-the-same-manner", "type": "definition", "offset": [1948, 1966]}, {"key": "other-executives", "type": "definition", "offset": [1970, 1986]}, {"key": "salary-level", "type": "clause", "offset": [1995, 2007]}], "samples": [{"hash": "lqLJF4fAGz0", "uri": "/contracts/lqLJF4fAGz0#ltip", "label": "Consulting Agreement (Gte South Inc)", "score": 16.0, "published": true}, {"hash": "k3lzkn23U3u", "uri": "/contracts/k3lzkn23U3u#ltip", "label": "Consulting Agreement (Gte California Inc)", "score": 16.0, "published": true}, {"hash": "i1GsTdEsh7O", "uri": "/contracts/i1GsTdEsh7O#ltip", "label": "Consulting Agreement (Gte North Inc)", "score": 16.0, "published": true}], "snippet": "Subject to ECC approval, in the spring of 1998, you will be eligible for a standard grant of Stock Options, and you also will be eligible for a Performance Bonus Award for the 1998-2000 award cycle under the GTE Long-Term Incentive Plan (\"LTIP\"). 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Achievement of targets, determination of the amount of Performance Bonus Awards, and determination of the number of shares covered by your grant of Stock Options will be established in the sole discretion of the ECC. Each Performance Bonus Award will be payable at the same time LTIP awards are payable to other LTIP participants. You will be eligible to defer, and thus receive a match pursuant to the EPP, only those of your LTIP Performance Bonus Awards payable while you are still employed by GTE (in this case, only the 1995-97 Performance Bonus Award). For purposes of this Letter Agreement, your 1998 Stock Option and Performance Bonus Award grants are collectively referred to as \"LTIP Grants.\" Note that the ECC reserves the right not to make Stock Option or Performance Bonus Awards in 1998, and, if so, you will be treated in the same manner as other executives at your salary level.", "hash": "1cf9e872334c594cb5b238bce41117aa", "id": 2}, {"size": 6, "snippet_links": [{"key": "participate-in", "type": "definition", "offset": [40, 54]}, {"key": "the-parent", "type": "definition", "offset": [55, 65]}, {"key": "incentive-programme", "type": "definition", "offset": [85, 104]}, {"key": "details-of", "type": "clause", "offset": [119, 129]}, {"key": "the-compensation-committee", "type": "clause", "offset": [168, 194]}, {"key": "parent-board", "type": "clause", "offset": [202, 214]}, {"key": "participation-in-the-ltip", "type": "clause", "offset": [232, 257]}, {"key": "terms-and-conditions-of-the", "type": "clause", "offset": [276, 303]}, {"key": "from-time-to-time", "type": "clause", "offset": [327, 344]}, {"key": "the-executive-acknowledges", "type": "clause", "offset": [396, 422]}, {"key": "the-employment", "type": "clause", "offset": [456, 470]}, {"key": "set-out", "type": "definition", "offset": [474, 481]}, {"key": "in-this-agreement", "type": "clause", "offset": [482, 499]}, {"key": "terms-and-conditions-of-employment", "type": "definition", "offset": [640, 674]}, {"key": "without-limitation", "type": "clause", "offset": [718, 736]}], "samples": [{"hash": "a2MYEukyYmG", "uri": "/contracts/a2MYEukyYmG#ltip", "label": "Service Contract (Smurfit WestRock PLC)", "score": 33.5160865784, "published": true}, {"hash": "lITRwsWLRgo", "uri": "/contracts/lITRwsWLRgo#ltip", "label": "Service Contract (Smurfit WestRock LTD)", "score": 33.2751541138, "published": true}, {"hash": "62w9vk6CHJS", "uri": "/contracts/62w9vk6CHJS#ltip", "label": "Service Contract (Smurfit WestRock LTD)", "score": 33.2751541138, "published": true}], "snippet": "The Executive shall also be eligible to participate in the Parent's Annual Long-Term Incentive Programme (the \"LTIP\"), details of which are available on application to the compensation committee of the Parent Board. The Executive's participation in the LTIP is subject to the terms and conditions of the LTIP as may be amended from time to time by the compensation committee of the Parent Board. The Executive acknowledges that the terms and conditions of the Employment as set out in this Agreement shall not be affected in any way by any participation by him in the LTIP which the Executive agrees and affirms shall not form part of such terms and conditions of employment (either expressly or impliedly) including, without limitation, as part of his remuneration under this Agreement.", "hash": "c34218fecfdd980ab34fb377732354d0", "id": 7}, {"size": 8, "snippet_links": [{"key": "award-period", "type": "definition", "offset": [40, 52]}, {"key": "period-a", "type": "definition", "offset": [87, 95]}, {"key": "grant-of-performance-shares", "type": "clause", "offset": [96, 123]}, {"key": "at-least-equal-to", "type": "definition", "offset": [124, 141]}, {"key": "the-annual", "type": "clause", "offset": [142, 152]}, {"key": "by-the-executive", "type": "clause", "offset": [188, 204]}, {"key": "incentive-plan", "type": "clause", "offset": [280, 294]}, {"key": "incentive-bonus-plan", "type": "definition", "offset": [318, 338]}, {"key": "by-the-corporation", "type": "clause", "offset": [350, 368]}, {"key": "from-time-to-time", "type": "clause", "offset": [369, 386]}, {"key": "change-in-control", "type": "definition", "offset": [433, 450]}, {"key": "subject-to", "type": "definition", "offset": [484, 494]}, {"key": "performance-goals", "type": "clause", "offset": [495, 512]}, {"key": "consistent-with", "type": "clause", "offset": [513, 528]}, {"key": "fiscal-years", "type": "clause", "offset": [574, 586]}, {"key": "prior-to-the", "type": "clause", "offset": [587, 599]}], "samples": [{"hash": "fB5Spxb3I8W", "uri": "/contracts/fB5Spxb3I8W#ltip", "label": "Executive Employment Agreement (Florida Power Corp /)", "score": 18.0, "published": true}, {"hash": "eNyKndfI1Yd", "uri": "/contracts/eNyKndfI1Yd#ltip", "label": "Executive Employment Agreement (Florida Power Corp /)", "score": 18.0, "published": true}, {"hash": "afD8xigAMHh", "uri": "/contracts/afD8xigAMHh#ltip", "label": "Executive Employment Agreement (Florida Power Corp /)", "score": 18.0, "published": true}], "snippet": "The Executive shall be awarded for each award period that begins within the Employment Period a grant of performance shares at least equal to the annual long-term incentive award received by the Executive (not taking into account any pro-ration) under the Corporation's Long-Term Incentive Plan or any other long-term incentive bonus plan maintained by the Corporation from time to time (the \"LTIP\") for the fiscal year in which the Change in Control occurs, and such shares shall be subject to performance goals consistent with those established by the Corporation for the fiscal years prior to the fiscal year in which the Change in Control occurs.", "hash": "ad727c59a25582b810b1d6a23231bee6", "id": 1}, {"size": 6, "snippet_links": [{"key": "restricted-shares", "type": "definition", "offset": [4, 21]}, {"key": "pursuant-to-this-agreement", "type": "clause", "offset": [47, 73]}, {"key": "in-addition-to", "type": "clause", "offset": [81, 95]}, {"key": "the-terms-and-conditions", "type": "clause", "offset": [113, 137]}, {"key": "the-ltip", "type": "clause", "offset": [209, 217]}, {"key": "on-the-effective-date", "type": "clause", "offset": [232, 253]}, {"key": "in-the-event-of", "type": "definition", "offset": [287, 302]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [328, 351]}, {"key": "terms-of-the", "type": "clause", "offset": [360, 372]}], "samples": [{"hash": "5Y4JKnUYGoK", "uri": "/contracts/5Y4JKnUYGoK#ltip", "label": "Restricted Stock Award Agreement (Oxford Industries Inc)", "score": 31.4941825867, "published": true}, {"hash": "chjCVCDtglr", "uri": "/contracts/chjCVCDtglr#ltip", "label": "Performance Equity Award Agreement (Oxford Industries Inc)", "score": 27.2368240356, "published": true}, {"hash": "e4ytdGxE6s9", "uri": "/contracts/e4ytdGxE6s9#ltip", "label": "Performance Equity Award Agreement (Oxford Industries Inc)", "score": 25.2546195984, "published": true}], "snippet": "All Restricted Shares and Participant\u2019s rights pursuant to this Agreement shall, in addition to being subject to the terms and conditions set forth herein, be subject to the additional terms and conditions of the LTIP, as in effect on the Effective Date or as may be amended thereafter. In the event of any conflict between the terms of this Agreement and the terms of the LTIP, the LTIP shall control.", "hash": "2c41b3343ca3d20e7e1dfb49783f9c8c", "id": 6}, {"size": 7, "snippet_links": [{"key": "to-the-executive", "type": "clause", "offset": [27, 43]}, {"key": "the-ltip", "type": "clause", "offset": [50, 58]}, {"key": "performance-cycles", "type": "clause", "offset": [63, 81]}, {"key": "change-in-control-has-occurred", "type": "clause", "offset": [101, 131]}, {"key": "date-of-termination", "type": "definition", "offset": [190, 209]}, {"key": "to-the-extent", "type": "clause", "offset": [210, 223]}, {"key": "fifty-percent", "type": "definition", "offset": [239, 252]}, {"key": "award-agreement", "type": "definition", "offset": [281, 296]}, {"key": "the-value", "type": "clause", "offset": [302, 311]}, {"key": "cash-payment", "type": "definition", "offset": [379, 391]}], "samples": [{"hash": "fB5Spxb3I8W", "uri": "/contracts/fB5Spxb3I8W#ltip", "label": "Executive Employment Agreement (Florida Power Corp /)", "score": 18.0, "published": true}, {"hash": "eNyKndfI1Yd", "uri": "/contracts/eNyKndfI1Yd#ltip", "label": "Executive Employment Agreement (Florida Power Corp /)", "score": 18.0, "published": true}, {"hash": "afD8xigAMHh", "uri": "/contracts/afD8xigAMHh#ltip", "label": "Executive Employment Agreement (Florida Power Corp /)", "score": 18.0, "published": true}], "snippet": "Performance shares granted to the Executive under the LTIP for performance cycles commencing after a Change in Control has occurred and remaining uncompleted will be deemed earned as of the Date of Termination to the extent of one hundred fifty percent (150%) of target under each award agreement, and the value of each such award will be paid out to the Executive in a lump-sum cash payment. Performance shares granted to the Executive under the LTIP for performance cycles which commenced after a Change in Control occurred and were completed before the Date of Termination will be paid out to the extent earned, and the value of such award will be paid out to the Executive in a lump-sum cash payment.", "hash": "867270c2ce1acbb270fbb45c9b90e49b", "id": 3}, {"size": 6, "snippet_links": [{"key": "during-the-employment-term", "type": "clause", "offset": [0, 26]}, {"key": "to-be-eligible", "type": "clause", "offset": [53, 67]}, {"key": "participate-in", "type": "definition", "offset": [71, 85]}, {"key": "the-company", "type": "definition", "offset": [86, 97]}, {"key": "incentive-plan", "type": "clause", "offset": [110, 124]}, {"key": "terms-and-conditions-applicable-to", "type": "clause", "offset": [147, 181]}, {"key": "similarly-situated-executives", "type": "definition", "offset": [182, 211]}, {"key": "to-the-extent", "type": "clause", "offset": [238, 251]}, {"key": "the-ltip", "type": "clause", "offset": [274, 282]}, {"key": "cause-and-good-reason", "type": "clause", "offset": [361, 382]}, {"key": "in-this-agreement", "type": "clause", "offset": [405, 422]}, {"key": "from-time-to-time", "type": "clause", "offset": [514, 531]}, {"key": "the-board", "type": "clause", "offset": [533, 542]}, {"key": "duly-authorized", "type": "clause", "offset": [549, 564]}, {"key": "annual-basis", "type": "definition", "offset": [648, 660]}], "samples": [{"hash": "cFBcsJp72XJ", "uri": "/contracts/cFBcsJp72XJ#ltip", "label": "Executive Employment Agreement (EverCommerce Inc.)", "score": 33.1998634338, "published": true}, {"hash": "cCpuDiPu183", "uri": "/contracts/cCpuDiPu183#ltip", "label": "Executive Employment Agreement (EverCommerce Inc.)", "score": 33.1998634338, "published": true}, {"hash": "MdkInQsNlC", "uri": "/contracts/MdkInQsNlC#ltip", "label": "Executive Employment Agreement (EverCommerce Inc.)", "score": 32.4743309021, "published": true}], "snippet": "During the Employment Term, Executive shall continue to be eligible to participate in the Company\u2019s long-term incentive plan (\u201cLTIP\u201d), on the same terms and conditions applicable to similarly situated executives; provided, however, that, to the extent that any provision in the LTIP provides for a reduction or forfeiture of any awards made under the LTIP, the Cause and Good Reason definitions contained in this Agreement shall supersede and replace any contradictory definitions in the LTIP as it may be amended from time to time. The Board (or a duly authorized subcommittee thereof) shall review (and may increase) Executive\u2019s LTIP grant on an annual basis.", "hash": "beef30d906ee54cfb82d21003d9f8882", "id": 4}, {"size": 6, "snippet_links": [{"key": "long-term-incentive-plan", "type": "clause", "offset": [41, 65]}], "samples": [{"hash": "9ssBg6br6ET", "uri": "/contracts/9ssBg6br6ET#ltip", "label": "Severance Agreement (Polaris Inc.)", "score": 32.3182754517, "published": true}, {"hash": "edtDL7raoqV", "uri": "/contracts/edtDL7raoqV#ltip", "label": "Severance Agreement (Polaris Industries Inc/Mn)", "score": 27.1327857971, "published": true}, {"hash": "tYqHkt3bVN", "uri": "/contracts/tYqHkt3bVN#ltip", "label": "Severance Agreement (Polaris Industries Inc/Mn)", "score": 21.0, "published": true}], "snippet": "\u201cLTIP\u201d means the Polaris Industries Inc. Long Term Incentive Plan.", "hash": "5111f3670d93793d331f34a9ea035879", "id": 5}, {"size": 5, "snippet_links": [{"key": "cash-payment", "type": "definition", "offset": [2, 14]}, {"key": "equal-to", "type": "definition", "offset": [15, 23]}, {"key": "the-product", "type": "clause", "offset": [24, 35]}, {"key": "ltip-payment", "type": "definition", "offset": [47, 59]}, {"key": "the-executive", "type": "clause", "offset": [65, 78]}, {"key": "date-of", "type": "clause", "offset": [164, 171]}, {"key": "on-the-board", "type": "definition", "offset": [291, 303]}, {"key": "determination-of", "type": "clause", "offset": [306, 322]}, {"key": "actual-performance", "type": "definition", "offset": [323, 341]}, {"key": "in-accordance-with", "type": "definition", "offset": [376, 394]}, {"key": "section-5", "type": "definition", "offset": [395, 404]}, {"key": "number-of-days", "type": "clause", "offset": [456, 470]}, {"key": "total-number-of", "type": "definition", "offset": [565, 580]}, {"key": "in-the-performance", "type": "clause", "offset": [586, 604]}, {"key": "applicable-performance-period", "type": "definition", "offset": [812, 841]}], "samples": [{"hash": "40M8KmCZq0s", "uri": "/contracts/40M8KmCZq0s#ltip", "label": "Employment Agreement (Store Capital LLC)", "score": 36.1731681824, "published": true}, {"hash": "i5WIDgL3kL7", "uri": "/contracts/i5WIDgL3kL7#ltip", "label": "Employment Agreement (Store Capital LLC)", "score": 34.2183418274, "published": true}, {"hash": "gWgajUvsCkT", "uri": "/contracts/gWgajUvsCkT#ltip", "label": "Employment Agreement (Store Capital LLC)", "score": 34.2183418274, "published": true}], "snippet": "A cash payment equal to the product of (A) the LTIP payment that the Executive would have received for any Performance Period that has not been completed as of the date of such termination if the Executive had continued in employment through the end of the Performance Period, if any, based on the Board\u2019s determination of actual performance for the entire Performance Period in accordance with Section 5, and (B) a fraction, the numerator of which is the number of days the Executive was employed during such Performance Period and the denominator of which is the total number of days in the Performance Period (the \u201cPro-Rated LTIP Payments\u201d). Such cash payment shall be made at the same time as it would have been paid in accordance with Section 5 if the Executive had remained employed through the end of the applicable Performance Period.", "hash": "1a1cfb396e4611eca65e01caeed14418", "id": 8}, {"size": 5, "snippet_links": [{"key": "senior-executive-officer", "type": "clause", "offset": [94, 118]}, {"key": "incentive-plan", "type": "clause", "offset": [129, 143]}, {"key": "the-ltip", "type": "clause", "offset": [187, 195]}, {"key": "this-agreement", "type": "clause", "offset": [200, 214]}, {"key": "except-as-provided-in", "type": "clause", "offset": [216, 237]}], "samples": [{"hash": "dzqmU63Fuve", "uri": "/contracts/dzqmU63Fuve#ltip", "label": "Employment Agreement (Lawson Products Inc/New/De/)", "score": 23.6748809814, "published": true}, {"hash": "760dhp5tyhR", "uri": "/contracts/760dhp5tyhR#ltip", "label": "Employment Agreement (Lawson Products Inc/New/De/)", "score": 23.6748809814, "published": true}, {"hash": "2y1LscsBUO1", "uri": "/contracts/2y1LscsBUO1#ltip", "label": "Employment Agreement (Lawson Products Inc/New/De/)", "score": 23.6748809814, "published": true}], "snippet": "Executive will also be eligible to continue to participate (or continue participation) in the Senior Executive Officer Long-Term Incentive Plan (the \u201cLTIP\u201d) as determined by the terms of the LTIP and this Agreement, except as provided in Section 10(d).", "hash": "7477c88c5de9d0464f2dc94a762c0c14", "id": 9}, {"size": 4, "snippet_links": [{"key": "to-the-extent", "type": "clause", "offset": [0, 13]}, {"key": "following-the", "type": "definition", "offset": [20, 33]}, {"key": "date-hereof", "type": "clause", "offset": [34, 45]}, {"key": "ocgh-units", "type": "definition", "offset": [70, 80]}, {"key": "in-accordance-with", "type": "definition", "offset": [81, 99]}, {"key": "ocgh-partnership-agreement", "type": "definition", "offset": [104, 130]}, {"key": "exchangeable-units", "type": "definition", "offset": [144, 162]}, {"key": "the-parties-hereto", "type": "clause", "offset": [169, 187]}, {"key": "negotiate-in-good-faith", "type": "definition", "offset": [197, 220]}, {"key": "total-equity-value", "type": "clause", "offset": [235, 253]}], "samples": [{"hash": "lnT2NuXidag", "uri": "/contracts/lnT2NuXidag#ltip", "label": "Exchange Agreement (Brookfield Oaktree Holdings, LLC)", "score": 36.2142372131, "published": true}, {"hash": "ifV6z0rXZN2", "uri": "/contracts/ifV6z0rXZN2#ltip", "label": "Exchange Agreement (Brookfield Oaktree Holdings, LLC)", "score": 33.2176589966, "published": true}, {"hash": "k5fsGBnvOYr", "uri": "/contracts/k5fsGBnvOYr#ltip", "label": "Exchange Agreement (Oaktree Capital Group, LLC)", "score": 32.2156066895, "published": true}], "snippet": "To the extent that, following the date hereof, OCGH issues additional OCGH Units in accordance with the OCGH Partnership Agreement that are not Exchangeable Units, then the parties hereto agree to negotiate in good faith to adjust the Total Equity Value and the components thereof.", "hash": "9aa16216e4d72201912dd101d3147f4a", "id": 10}], "next_curs": "Ck0SR2oVc35sYXdpbnNpZGVyY29udHJhY3RzcikLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ig1sdGlwIzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"children": [["termination-date", "Termination Date"], ["", ""]], "size": 199, "title": "LTIP", "parents": [["compensation", "Compensation"], ["definitions", "Definitions"], ["incentive-plans", "Incentive Plans"], ["effects-of-termination", "Effects of Termination"], ["termination-by-the-company-without-cause-or-by-the-executive-for-good-reason", "Termination By the Company Without Cause or By the Executive for Good Reason"]], "id": "ltip", "related": [["equity-award", "Equity Award", "Equity Award"], ["incentive-plans", "Incentive Plans", "Incentive Plans"], ["equity-awards", "Equity Awards", "Equity Awards"], ["incentive-awards", "Incentive Awards", "Incentive Awards"], ["incentive-award", "Incentive Award", "Incentive Award"]], "related_snippets": [], "updated": "2026-05-03T04:25:59+00:00", "also_ask": ["What are the most negotiable elements in LTIP structures for both employers and employees?", "Which drafting provisions are essential to prevent ambiguity or disputes in LTIP clauses?", "What are the primary legal risks or pitfalls that could render an LTIP unenforceable?", "How do LTIP terms typically compare across jurisdictions or industry standards?", "What factors do courts consider most heavily when determining the enforceability of LTIP provisions?"], "drafting_tip": "Define eligibility criteria and vesting conditions clearly to avoid ambiguity; specify performance metrics to ensure enforceability.", "explanation": "The LTIP, or Long-Term Incentive Plan, is a contractual provision that outlines the terms under which employees or executives are granted performance-based incentives, typically in the form of equity awards or cash bonuses, over an extended period. These plans often specify eligibility criteria, performance targets, vesting schedules, and the types of awards that may be granted, such as stock options or restricted shares. The core practical function of an LTIP clause is to align the interests of key personnel with the long-term success of the company, incentivizing sustained performance and retention."}, "json": true, "cursor": ""}}