IC Plan definition
Examples of IC Plan in a sentence
As used in this Section 5, "Annual Bonus" means the greater of (i) the annual target bonus under the I.C. Plan attributable to the Plan Member or (ii) said annual target bonus times a fraction equivalent to the average percentage of said annual target bonus paid to said Plan Member for each of the two preceding fiscal years of the Company (or for such lesser period of time as such Plan Member participated in the I.C. Plan).
The EPS target for each year in the Senior IC Plan and LTI shall be determined by the Compensation Committee of the Board of Directors by January 1st of each year.
The IC Plan will establish Reclamation-wide internal control requirements for Pub.
For the purposes of clarity, under this subsection, the Executive shall be entitled to payments under the IC Plan pursuant to this provision only for performance periods that are completed during the one (1)-year period following the Executive’s termination of employment.
The foregoing payments shall be paid at the same time as payments under the IC Plan are typically paid, but in no event earlier than three (3) months following the Executive’s Qualifying Termination and in no event later than March 15th of the year following the year in which the applicable season is completed.
The number of shares subject to the Option shall be the quotient resulting from the division of (x) fifty percent (50%) of the total value of the Optionee's incentive award under the District IC Plan (after deducting withholdings required by law, including any tax required by a governmental entity), by (y) the per share purchase price as calculated under (ii) above.
Thereafter, incentive compensation under the IC Plan is not guaranteed but will be based on the results of the Company’s performance as determined by the Board of Directors of the Company’s parent (the “Board”).
The parties acknowledge and agree that notwithstanding this Agreement and the termination of ▇▇▇▇▇▇▇▇’▇ employment as of the Retirement Date, ▇▇▇▇▇▇▇▇ is and shall remain eligible to participate in the Company’s Incentive Compensation Plan (the “IC Plan”) for the entire calendar year of 2005, and the Company agrees that the IC Plan shall not be modified in any manner so as to reduce or otherwise prejudice the participation of ▇▇▇▇▇▇▇▇ therein through the Retirement Date.
The severance called for by clause (x) shall be paid in equal installments on each of the Company’s regular payroll dates during the 18-month period commencing on the first such payroll date following the Termination Date and the Prorated Bonus will be paid if and when the Company generally pays bonuses under the IC Plan to its other employees with respect to the Termination Year.
On or before March 15, 2006, and not as part of the Retirement Pay, ▇▇▇▇▇▇▇▇ will receive payment of $50,882.00 with respect to the operation and results of the Company for 2005 under the IC Plan (the “IC Plan Payment”), in accordance with the performance goals established for ▇▇▇▇▇▇▇▇ for 2005 under the IC Plan The Company will withhold applicable federal, state and local income and/or occupational taxes as well as Medicare taxes and other legally required deductions from the IC Plan Payment.