Management Incentive Compensation Plan. In addition to Annual Base Salary, during each year of the Employment Period, the Executive shall be designated as a participant in the Company's Management Incentive Compensation Plan (the "Bonus Plan") and, subject to meeting the criteria of the Bonus Plan, shall receive the bonus award provided for therein (the "Annual Award").
Management Incentive Compensation Plan. Cavanaugh will be eligible to participate in the Management Incentivx Xxxxxxxation Plan (MICP). Pursuant to the terms of MICP, Cavanaugh's target compensation under such plan will be 60% of base xxxxxx xxxxings. The annual target will increase to 65% effective January 1, 2001, contingent upon the closing of the Florida Progress Corporation ("FPC") acquisition.
Management Incentive Compensation Plan. (1) Midas shall establish a Management Incentive Compensation Plan (the "MIDAS MANAGEMENT INCENTIVE COMPENSATION PLAN"). Midas and the Midas Subsidiaries shall be solely liable and responsible for all Liabilities whatsoever arising under the Midas Management Incentive Compensation Plan, and neither Xxxxxxx nor any Xxxxxxx Subsidiary shall have any Liabilities in respect thereof at any time. Midas and Midas Operating Company shall indemnify, defend and hold harmless Xxxxxxx, each Affiliate of Xxxxxxx and each of Xxxxxxx'x directors, officers and employees and each of the heirs, executors, successors and assigns of any of the foregoing (the "XXXXXXX INDEMNITEES") from and against any and all losses, Liabilities, claims, damages, payments, absolute or contingent, matured or unmatured, liquidated or unliquidated, accrued or unaccrued, known or unknown (including, without limitation, the costs and expenses of any and all Actions, threatened Actions, demands, assessments, judgments, settlements and compromises relating thereto and attorneys' fees and any and all expenses whatsoever reasonably incurred in investigating, preparing or defending against any such Actions or threatened Actions (collectively, "LOSSES" and, individually, a "LOSS")) of the Xxxxxxx Indemnitees arising out of or due to the failure or alleged failure of Midas or any of its Affiliates to pay, perform or otherwise discharge such Liabilities.
Management Incentive Compensation Plan. Chesapeake Midstream Management, L.L.C., a Delaware Limited Liability Company (“CMM”) has established the Chesapeake Midstream Management Incentive Compensation Plan (the “MICP”) as an incentive compensation arrangement designed to promote the development and growth of the MLP. On the earlier to occur of the first anniversary of the Original Effective Date or the closing of the initial public offering of the MLP’s common units, CHK and GIP shall consider and mutually determine whether and to what extent Executive will participate in the MICP. Any such participation by Executive shall be in lieu of awards of CHK restricted stock provided for under the Employment Agreement which have not theretofore been granted. The General Partner shall reimburse CHK for 100% of the amounts actually paid by CMM under the MICP with respect to any awards granted to Executive thereunder during the Shared Services Period (regardless of whether such award is actually paid during or after such period) or the amounts actually paid by any Chesapeake Entity that becomes the “Plan Sponsor” of the MICP (as defined in the MICP); provided, however, that in the event that the Executive ceases to perform services for the General Partner but thereafter remains employed by a Chesapeake Entity, the amount of the MICP Payments reimbursable by the General Partner hereunder shall not exceed the amount of such MICP Payments that were actually paid to the Executive and to the extent provided hereunder but multiplied by a fraction the numerator of which equals the number of days in the Shared Services Period and the denominator of which equals the number of days in the Shared Services Period plus the number of days of the Executive’s employment with a Chesapeake Entity after the Shared Services Period through the applicable payment date under the MICP. The reimbursement obligation described in this Section 2.3 shall cease with respect to any MICP Payments not yet made to Executive if and to the extent that CMM’s or such Affiliate’s obligations under the MICP with respect to the Executive (or with respect to the MICP as a whole) are transferred to CMV, the MLP, the General Partner or any of their subsidiaries.
Management Incentive Compensation Plan. Employee will be eligible to participate in the Management Incentive Compensation Plan (MICP) beginning __________, 2000, for which the first year's payment will be made on or before March 31, 2001. Pursuant to the terms of MICP, Employee's target compensation under such plan will be approximately 40% of base salary earnings for 2000. For 2001 and thereafter, the target compensation under such plan shall be 45% of Employee's base salary contingent upon the closure of the Florida Progress Corporation Acquisition.
Management Incentive Compensation Plan. The Executive shall be entitled to participate in the Company's Management Incentive Compensation Plan (the "Incentive Plan") to the extent provided in, and subject to the conditions and any terms and limitations of, the Incentive Plan, and, subject to the discretion of the Board, any stock option plan ("Stock Plan") currently in effect or hereafter adopted by the Company which is applicable to employees or executive employees generally to the extent provided in, and subject to the conditions and any terms and limitations of, such Stock Plan; provided, however, that nothing in this Agreement shall require the Company to maintain or continue the Incentive Plan or any Stock Plan and nothing in this Agreement shall restrict the right of the Company to amend, modify or terminate the Incentive Plan or any Stock Plan.
Management Incentive Compensation Plan. Steaxxx' xxght to an award under the Amended 1996 Management Incentive Compensation Plan ("MICP") shall be deemed to have accrued as of the Termination Date. Steaxxx xxxll be entitled to a payment under the MICP if, and only if: (1) corporate goals are met; (2) his personal goals and results are met; (3) the business unit profitability goals are achieved; and (4) the Company funds the MICP award. Any such award will be made when such payments are made to other employees, in or around the end of the first quarter or the beginning of the second quarter of 2000. Steaxxx' xxrticipation in the MICP shall cease after the Termination Date.
Management Incentive Compensation Plan. Following the Closing, the Buyer will cause the Company to adopt and approve a management incentive compensation plan for the existing and potential future members of the Company's management team, the terms of which incentive compensation plan will be determined in the sole reasonable discretion of the Buyer, after taking into consideration input from the senior management of the Company.