Examples of Incentive Plan in a sentence
For the remainder of the term hereof, the Executive shall be entitled to participate in the Company’s Annual Incentive Plan (the “Annual Incentive Plan”) on terms to be determined annually by the Compensation Committee prior to the commencement of each fiscal year.
If the Executive is subject to an Involuntary Termination prior to March 31 of any calendar year, and has, therefore, not yet received payment for the prior year under the Annual Incentive Plan, then the Executive will also be entitled to such payment under the Annual Incentive Plan as he would otherwise have been entitled to receive had he remained employed on March 31 of the year of Involuntary Termination.
Nothing contained herein shall obligate the Company to continue the Annual Incentive Plan.
These grants will remain subject to all of the other terms and conditions in the Bar Harbor Bankshares and Subsidiaries Incentive Stock Option Plan of 2000, the Bar Harbor Bankshares and Subsidiaries Equity Incentive Plan of 2009, or any other equity plan.
Any compensation paid to the Executive under the Annual Incentive Plan shall be in addition to the Base Salary.