Prior Year PIP Awards Sample Clauses

Prior Year PIP Awards. On or as soon as practicable (and in all events within 60 days) after the Termination Date, the Executive will be granted awards under the AGNC PIP, MTGE PIP and any similar plans maintained by the Company relating to any other Company Managed Funds equal to the amount that would have been granted under Section 2 of Exhibit A relating to the calendar year immediate prior the calendar year in which the Termination Date occurs; provided that such amount shall be reduced by the value of any awards made under the AGNC PIP, MTGE PIP and any such similar plans with respect to such prior calendar year (the “Prior Year Termination PIP Awards”). The amount of Prior Year Termination PIP Awards granted under each of the AGNC PIP, MTGE PIP and any such similar plans will (after taking into account any other awards with respect to such prior calendar year) be proportional to the year-end net asset value of each such Company Managed Fund; provided that the amount granted under the MTGE PIP shall not be less than 10% of the total amount granted under the AGNC PIP and MTGE PIP. Any such. Subject to the Executive’s continued compliance with his obligations under Article V of this Agreement, twenty percent (20%) of the Prior Year Termination PIP Awards will vest and be paid out on the one-year anniversary of the Termination Date, and the remainder will vest and be paid out on the eighteen (18) month anniversary of the Termination Date. Any Prior Year Termination PIP Awards will be subject to the terms and conditions of the AGNC PIP and MTGE PIP and forms of agreement attached hereto as Exhibits 4.5-AGNC and 4.5-MTGE or similar forms of agreement under any similar plans maintained by the Company relating to any other Company Managed Funds. At the Board of Manager’s sole discretion, up to 25% of the initial value of any such Prior Year Termination PIP Awards under the plans described above shall be notionally invested in shares of common stock of ACAS and shall be subject to the same vesting schedule as other notional investments under such plans. (e) Current Year Pro Rata PIP Awards. On or as soon as practicable (and in all events within 60 days) after the Termination Date, the Executive will be granted awards under the 11 AGNC PIP, MTGE PIP and any similar plans maintained by the Company relating to any other Company Managed Funds equal to the amount that would have been granted under Section 2 of Exhibit A for the calendar year of termination pro rated to reflect the numbe...
Sample 1
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Related to Prior Year PIP Awards

  • Annual Incentive Awards The Executive shall participate in the Company's annual incentive compensation plan with a target annual incentive award opportunity of no less than 40% of Base Salary and a maximum annual incentive award opportunity of 80% of Base Salary. Payment of annual incentive awards shall be made at the same time that other senior-level executives receive their incentive awards.

  • Annual Equity Awards Following the first anniversary of the Effective Date, Executive will be granted annual equity awards in an amount determined by the Board. Such awards may be in the form of options, restricted stock units, performance shares, or any other form as approved by the Board.

  • Incentive and Bonus Compensation The Executive shall be eligible to participate in the Company’s existing and future bonus and stock option plans and other incentive compensation programs for similarly situated executives (collectively, “Plans”), to the extent that the Executive is qualified to participate in any such Plan under the generally applicable provisions thereof in effect from time to time. Such eligibility is not a guarantee of participation in or of the receipt of any award, payment or other compensation under any Plan. To the extent the Executive does participate in a Plan and the Plan does not expressly provide otherwise, the Chief Executive Officer and/or the Board, as appropriate, may determine all terms of participation (including, without limitation, the type and size of any award, payment or other compensation and the timing and conditions of receipt thereof by the Executive) in the Chief Executive Officer’s or the Board’s sole and absolute discretion. Nothing herein shall be deemed to prohibit the Company or the Board from amending or terminating any and all Plans in its sole and absolute discretion. Except as otherwise provided herein, the terms of each Plan shall govern the Executive’s rights and obligations thereunder during the Executive’s employment and upon the termination thereof. Without limiting the generality of the foregoing, the definition of “Cause” hereunder shall not supersede the definition of “cause” in any Plan (unless the Plan expressly defers to the definition of “cause” under an executive’s employment agreement) and any rights of the Executive hereunder upon and subsequent to the termination of the Executive’s employment shall be in addition to, and not in lieu of, any right of the Executive under any Plan then in effect upon or subsequent to a termination of employment.

  • Annual Bonus Compensation In addition to your Salary, during the Employment Term you shall be eligible to earn an annual bonus for each whole or partial calendar year during the Employment Term, determined and payable as follows (the “Bonus”):

  • Annual Bonuses For each fiscal year during the term of employment, the Executive shall be eligible to receive a bonus in the amount, if any, as may be determined from time to time by the Board in its discretion.

  • Incentive Awards a) The Executive shall participate in the Company's annual incentive plan for senior-level executives as in effect from time to time, subject to the performance standards set by the Compensation Committee. Payment of any annual incentive award shall be made at the same time that such awards are paid to other senior-level executives of the Company. The Executive's annual incentive award target shall be set by the Compensation Committee.

  • Long-Term Incentive Awards The Executive shall participate in any long-term incentive awards offered to senior executives of the Company, as determined by the Compensation Committee.

  • Incentive Pay (1) For any calendar year: in which twenty-five percent (25%) of the number of members employed as of January 1 of each year are rated as either Level II or Level III in every phase of the PFT then

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