Supplemental Award Sample Clauses

Supplemental Award. During the Term beginning with fiscal year 2008, provided the Executive is employed by the Company on the applicable grant date, the Executive shall be entitled to an annual award with an aggregate grant date value equal to 6% of the sum of Base Salary plus Annual Bonus as defined in this paragraph 3(d) if the Executive will be less than age 40 by the end of the applicable fiscal year, 8% of such amount if the Executive will be age 40 and over and less than 50 by the end of the applicable fiscal year, 10% of such amount if the Executive will be age 50 and over and less than age 60 at the end of the applicable fiscal year and 13% of such amount if the Executive will be age 60 or older by the end of the applicable fiscal year (“Supplemental Award”), with the first such award pro-rated to reflect the number of full months of service by the Executive in fiscal year 2008. For this purpose, Base Salary shall be the Base Salary paid to the Executive for the fiscal year prior to the award year and Annual Bonus shall be the annual bonus awarded to the Executive by the Board for such fiscal year. The Supplemental Award shall not be awarded to the Executive until after the determination by the Board of the Executive’s annual bonus for the prior fiscal year and 50% of the value of the Supplemental Award shall be awarded in the form of restricted shares pursuant to the applicable Stock Incentive Plan (“Career Shares”) and 50% shall be awarded in the form of a credit to a bookkeeping account maintained by the Company for the Executive’s account (the “Notional Account”). Any Career Shares awarded hereunder shall be governed by the applicable Stock Incentive Plan and, if applicable, any award agreement. For purposes of this Section 3(d), each Career Share shall be valued at the closing price of a share of the Company’s common stock (“Share”) on the date that the Supplemental Award is made. For the Notional Account, the Company shall select the investment alternatives available to the Executive under the Company’s 401(k) plan. The balance in the Notional Account shall periodically be credited (or debited) with the deemed positive (or negative) return based on returns of the permissible investment alternative or alternatives under the Company’s 401(k) plan as selected in advance by the Executive (and in accordance with the applicable rules of such plan or investment alternative) to apply to such Notional Account, with such deemed
Sample 1See All (8)
AutoNDA by SimpleDocs
Supplemental Award. During the Term beginning with fiscal year 2005, provided the Executive is employed by the Company, the Executive shall be entitled to an annual award with an aggregate grant date value equal to 6% of the sum of Base Salary plus Annual Bonus as defined in this Section 4(d) if the Executive will be less than age 40 by the end of the applicable fiscal year, 8% of such amount if the Executive will be age 40 and over and less than age 50 by the end of the applicable fiscal year, 10% of such amount if the Executive will be age 50 and over and less than age 60 by the end of the applicable fiscal year and 13% of such amount if the Executive will be age 60 or older by the end of the applicable fiscal year ("Supplemental Award"), with the first such award being made no later than 60 days after the Effective Date. For this purpose, Base Salary shall be the Base Salary paid to the Executive for the fiscal year prior to the award year and Annual Bonus shall be the annual bonus awarded to the Executive by the Board for such prior fiscal year. The Supplemental Award shall not be awarded to the Executive until after the determination by the Board of the Executive's annual bonus for the prior fiscal year (but in no event later than 60 days thereafter for any award made after fiscal year 2005) and 50% of the value of the Supplemental Award shall be awarded in the form of restricted shares pursuant to the applicable Stock Incentive Plan ("Career Shares") and 50% shall be awarded in the form of a credit to a bookkeeping account maintained by the Company for the Executive's account (the "Notional Account"). Any Career Shares awarded hereunder shall be governed by
Sample 1
Supplemental Award. During the Term beginning with fiscal year 2005, provided the Executive is employed by the Company, the Executive shall be entitled to an annual award with an aggregate grant date value equal to 10% of the sum of Base Salary plus Annual
Sample 1
Supplemental Award. In the event that Jefferies declares and pays a regular dividend in excess of $0.15 per share per quarter (the “Base Dividend,” which is subject to adjustment as provided below), an amount equal to two times the amount by which such per-Share dividend exceeds the Base Dividend (the “Excess Dividend”), times 1,253,133 (the “Share Reference,” which is subject to adjustment as provided below), will be credited as cash dividend equivalents to an account (the “Supplemental Award Account”) maintained by Jefferies for Employee, subject to the following terms and conditions:
Sample 1
Supplemental Award. This Award includes a grant of rights to certain dividend equivalents, under Section 6 of this Agreement.
Sample 1
Supplemental Award. In the event the Transaction constitutes a Change in Control (as defined in the Plan) with respect to the Company, then on November 15, 2021, Executive shall be issued (x) a cash award equal to Two Million Dollars ($2,000,000); (y) subject to the approval of the Board of Directors (or appropriate committee thereof) (the “Board”) of the publicly-held corporation surviving the Transaction (“Parent”), an equity award with respect to Class A common stock of Parent with a value equal to Two Million Dollars ($2,000,000); or (z) any combination of the foregoing (collectively, the “Supplemental Award”), subject to Executive’s continuous service on such date; provided, that if Executive’s services are terminated without Cause prior thereto and Executive executes and does not revoke a general waiver and release of claims in a form reasonably satisfactory to the Company within sixty (60) days after such termination, then on November 15, 2021, Executive will be deemed to be in continuous service notwithstanding such termination. In the event the Transaction does not constitute a Change in Control (as defined in the Plan) with respect to the Company, as reasonably determined by the Board in good faith, this Section 2 will be null and void ab initio and of no further force or effect.
Sample 1
Supplemental Award. Upon the Effective Date, Executive shall be granted long-term incentive awards with a target value equal to 25% of the Base Salary (the “Supplemental Award”). The Supplemental Award shall be composed of the following types of awards: 40% time-based restricted stock, 30% time-based stock options, and 30% performance share units, each of which shall be in such form and pursuant to such terms as may be determined by the Committee. The Supplemental Award shall be in addition to, and not in lieu of, any other long-term incentive award granted during 2017.
Sample 1
AutoNDA by SimpleDocs

Related to Supplemental Award

  • Supplemental Retirement Benefit In addition to the foregoing, Executive shall be eligible to participate in the Supplemental Executive Retirement Plan maintained by Cleco Utility Group Inc. or such other supplemental retirement benefit plans which the Company or its Affiliates may adopt, from time to time, for similarly situated executives (the "Supplemental Plan").

  • Supplemental Retirement Plan During the Contract Period, if the Executive was entitled to benefits under any supplemental retirement plan prior to the Change in Control, the Executive shall be entitled to continued benefits under such plan after the Change in Control and such plan may not be modified to reduce or eliminate such benefits during the Contract Period.

  • Supplemental Compensation Pursuant to Section 7 of the Agreement, Supplemental Compensation will be paid as follows:

  • Supplemental Retirement Benefits The terms and conditions for the payment of supplemental retirement benefits are set forth in a separate written agreement between the parties.

  • Incentive Award The three (3) year rolling average of earnings growth and Return On Equity (the "XXX") and determined as of December 31 of each plan year shall determine the Director's Incentive Award Percentage, in accordance with the attached Schedule A. The chart on Schedule A is specifically subject to change annually at the sole discretion of the Company's Board of Directors. The Incentive Award is calculated annually by taking the Director's Annual Fees for the Plan Year in which the XXX and Earnings Growth was calculated times the Incentive Award Percentage.

  • Performance Award You are hereby awarded, on the Grant Date, a Performance Award with a target value of [AMOUNT].

  • Equity Award The Executive will be eligible to receive equity awards, if any, at such times and on such terms and conditions as the Board shall, in its sole discretion, determine.

  • 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.

  • Incentive Bonus Plan Employee shall be eligible for a bonus opportunity of up to 65% of his annual base salary in accordance with the Company’s Incentive Bonus Plan as modified from time to time, payable in cash and/or equity of the Company (at the Company’s discretion). The bonus payment and the Company’s targeted performance shall be determined and approved by the Board or the compensation committee thereof.

  • Initial Election The Director shall make an initial deferral election under this Agreement by filing with the Company a signed Election Form within 30 days after the Effective Date of this Agreement. The Election Form shall set forth the amount of Fees to be deferred and shall be effective to defer only Fees earned after the date the Election Form is received by the Company.

Time is Money Join Law Insider Premium to draft better contracts faster.