Term Incentive Compensation. You will be eligible to participate in the Company’s short term incentive plan (“STIP”) with a target incentive of 25% of your annual base salary, pro-rated based on the period of time you are employed at SMTC during the relevant Company fiscal year, less applicable taxes, deductions, and withholdings. Target incentives do not constitute a promise of payment. To qualify for the STIP bonus, you must remain employed with the Company through the date that the STIP bonus is paid, except that if you are terminated without Cause (as defined herein) after the end of the fiscal year for which the STIP bonus is earned but prior to the date the STIP bonus is paid, you will still receive the STIP bonus earned. Your actual STIP payout will depend on SMTC financial performance and an assessment of your individual performance, and any STIP payout is subject to and governed by the terms and requirements of the STIP, as approved and amended by the Compensation Committee of the Board of Directors (the “Compensation Committee”) from time to time. The STIP bonus will be paid following Compensation Committee approval of the STIP bonus amount and within 10 days following release of the Company’s audited financial statements for the fiscal year for which the STIP bonus is earned. SMTC Corporation Corporate Headquarters 000 Xxxx Xxxx, Xxxxxxx, Xxxxxxx, Xxxxxx X0X 0X0 Telephone: 000.000.0000 Fax: 000.000.0000 Web Site: xxx.xxxx.xxx Toronto ● San Xxxx ● Mexico ● China
Term Incentive Compensation. Beginning in 2024, Executive shall be eligible to receive long-term incentive compensation under the Company’s Long-Term Incentive Plan (the “LTIP”) as in effect from year to year, with a target award each year equal to 65% of Executive’s Base Salary for the year, subject to the terms and conditions of the applicable award agreements as determined by the Board or the Compensation Committee of the Board.
Term Incentive Compensation. You will be eligible to participate in the Long-Term Incentive Compensation Plan ("LTIP") that has been approved by the Company's Board of Directors; a general description of your Core Awards ("Core Awards") and Targeted Awards ("Special Awards") under the LTIP is attached hereto as Exhibit I.
Term Incentive Compensation. (a) Sign-on Incentive Stock Option Award. The Employee will receive an award of 25,000 PartnerRe Ltd. stock options. Twenty-five percent of the options will vest immediately, and twenty-five percent will vest on the first, second and third anniversary of the Grant Date. In the event the Optionee ceases to be an employee of the PartnerRe Group for any reason, any Option awards, to the extent vested and exercisable shall be exercisable for three years after termination of employment, but in no event later than the expiration of the Option. In the case of termination by reason other than for cause, all unvested options on the date of termination will continue to vest according to the stated vesting schedule.
