Common use of Other Incentive Plans Clause in Contracts

Other Incentive Plans. The Executive shall be entitled to participate in any and all cash, equity, bonus and other incentive plans which are not Annual Bonus Plans (the “Long Term Plans”) from time to time in effect for senior executives of the Company generally (it being understood that effective immediately prior to the Company’s initial public offering, the Company established a single such plan called the “2005 Equity Incentive Plan”). The terms of each Long Term Plan and Executive’s participation therein shall be determined by the compensation committee of the Board (or, if there is no such committee, by the Board). The compensation committee of the Board (or, if there is no such committee, the Board) may alter, modify, add to or delete any Long Term Plan at any time as it, in its sole judgment, determines to be appropriate.

Appears in 5 contracts

Samples: Employment Agreement (Xerium Technologies Inc), Employment Agreement (Xerium Technologies Inc), Employment Agreement (Xerium Technologies Inc)

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Other Incentive Plans. The Executive shall be entitled to participate in any and all cash, equity, bonus and other incentive plans which are not Annual Bonus Plans (the “Long Term Plans”) from time to time in effect for senior executives of the Company generally (it being understood that effective immediately prior to the Company’s initial public offering, 2005, the Company established a single such plan called the “2005 Equity Incentive Plan”). The terms of each Long Term Plan and Executive’s participation therein shall be determined by the compensation committee of the Board (or, if there is no such committee, by the Board). The compensation committee of the Board (or, if there is no such committee, the Board) may alter, modify, add to or delete any Long Term Plan at any time as it, in its sole judgment, determines to be appropriate.

Appears in 4 contracts

Samples: Employment Agreement (Xerium Technologies Inc), Employment Agreement (Xerium Technologies Inc), Employment Agreement (Xerium Technologies Inc)

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