Individual Incentive Plan definition

Individual Incentive Plan means, with respect to each Manager, an annual statement of goals or objectives for such Manager based primarily on the EBITDA or revenues of the Company and its Subsidiaries as a whole, or of such profit center or SBU of the Company as the Committee may determine, with respect to the performance or achievement of which the Manager’s bonus entitlement under the Plan shall be determined. The Individual Incentive Plan with respect to any Manager may also include such other qualitative or quantitative objectives or conditions as the Committee may determine in its sole discretion, in which event the Individual Incentive Plan shall include, as appropriate, a statement as to how such objectives shall be weighted in determining the Manager’s performance.
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Examples of Individual Incentive Plan in a sentence

  • Actual entitlement will be based upon performance relative to goals and objectives set forth in the Manager’s Individual Incentive Plan and revenue growth objectives individually established for Managers who are sales and marketing executives.

  • No such bonus right shall be deemed granted under the Plan unless and until such Manager’s bonus eligibility and Individual Incentive Plan have been approved by the Committee with the concurrence of the Chief Executive Officer.

  • No Manager shall be deemed to have earned a bonus payment except in relation to the level of achievement of the Manager’s applicable Individual Incentive Plan and subject to the payment limitations in Section 7 and other provisions of the Plan.

  • However, no such termination, modification or amendment shall adversely affect any bonus entitlement of a Manager based upon an Individual Incentive Plan which has previously been approved by the Chief Executive Officer and the Committee and presented in writing to such Manager, other than as provided under 7.

  • Notwithstanding the foregoing, Mr. Xxxxx xx eligible to participate in the 1999 Individual Incentive Plan which will be paid, if earned, during the first quarter of the year 2000.

  • The amount of this annual incentive payment, if any, in any such year shall be: (i) based on performance, (ii) calculated in accordance with and subject to the terms of the Bank of Marin Individual Incentive Plan, and (iii) approved by the Board, subject to the terms of the Bank of Marin Individual Incentive Plan.

  • Mr Diefendorf’s bonus was paid pursuant to his Individual Incentive Plan.

  • The Executive’s Annual Incentive Payment is calculated according to the Bankwide Performance Measures and the Executive’s Individual Performance Measures and is subject to the Bank’s Individual Incentive Plan.

Related to Individual Incentive Plan

  • Annual Incentive Plan means the Cinergy Corp. Annual Incentive Plan or any similar plan or successor to the Annual Incentive Plan.

  • Annual Incentive Award means an Award made subject to attainment of performance goals (as described in Section 14) over a performance period of up to one year (the Company’s fiscal year, unless otherwise specified by the Committee).

  • Company Incentive Plan shall have the meaning assigned to it in Section 1.7 hereof.

  • Equity Incentive Plan means an incentive plan, or portion of an incentive plan, under which awards are granted and that falls within the scope of IFRS 2 Share-based Payment;

  • Long-Term Incentive Plan or “LTIP” means a plan providing compensation intended to motivate performance over a period greater than one financial year. LTIPs do not include option or SAR plans or plans for compensation through shares or units that are subject to restrictions on resale;

  • Incentive Compensation Plan means any plan, agreement or other arrangement that provides for the grant or issuance of equity or equity-based awards and that is now in effect or is hereafter adopted by the Company or the Manager for the benefit of any of their respective employees or other service providers (including directors, advisers and consultants), or the employees or other services providers (including directors, advisers and consultants) of any of their respective Affiliates or Subsidiaries.

  • Bonus Plan means the Company’s management incentive plan or such other annual bonus plan in existence at the applicable time.

  • Equity Incentive Plans means any equity incentive plans for officers, employees or Directors of the Company.

  • incentive plan award means compensation awarded, earned, paid, or payable under an incentive plan;

  • Long-Term Incentive Award means an Award described in Section 6(g) hereof that is based upon a period in excess of one year.

  • SIP means Session Initiation Protocol.

  • Incentive Compensation Plans means annual incentive compensation plans and long-term incentive compensation plans of the Company, which long-term incentive compensation plans may include plans offering stock options, restricted stock and other long-term incentive compensation.

  • STIP means the Company’s short-term incentive plan under Section 8 of the Company’s 2007 Omnibus Incentive Plan, effective May 8, 2007, as may be amended from time to time, or any successor plan, program or arrangement thereto.

  • Incentive Plans means any incentive, bonus, deferred compensation or similar plan or arrangement currently or hereafter made available by Employer in which Executive is eligible to participate.

  • Average Incentive Compensation means the average of the annual incentive compensation under Subparagraph 3(a) received by Executive for the three (3) immediately preceding fiscal years or such fewer number of complete fiscal years as Executive may have been employed by the Company. In no event shall “Average Incentive Compensation” include any sign-on bonus, retention bonus or any other special bonus. Notwithstanding the foregoing, if the Executive breaches any of the provisions contained in Paragraphs 4 and 5 of this Agreement, all payments of the Severance Amount shall immediately cease. Notwithstanding the foregoing, in the event Executive terminates his employment for Good Reason as provided in Subparagraph 6(e), he shall be entitled to the Severance Amount only if he provides the Notice of Termination provided for in Subparagraph 6(f) within thirty (30) days after the occurrence of the event or events which constitute such Good Reason as specified in clauses (A), (B), (C), (D), (E) and (F) of Subparagraph 6(e);

  • Clawback Eligible Incentive Compensation means all Incentive-based Compensation Received by an Executive Officer (i) on or after the effective date of the applicable Nasdaq rules, (ii) after beginning service as an Executive Officer, (iii) who served as an Executive Officer at any time during the applicable performance period relating to any Incentive-based Compensation (whether or not such Executive Officer is serving at the time the Erroneously Awarded Compensation is required to be repaid to the Company), (iv) while the Company has a class of securities listed on a national securities exchange or a national securities association, and (v) during the applicable Clawback Period (as defined below).

  • AIP means the Company's Annual Incentive Plan as it exists on the date hereof and as it may be amended, supplemented or modified from time to time or any successor plan.

  • Incentive Plan means any plan providing compensation that depends on achieving certain performance goals or similar conditions within a specified period;

  • Stock Incentive Plan has the meaning set forth in Section 3(b) of the Agreement.

  • non-equity incentive plan means an incentive plan or portion of an incentive plan that is not an equity incentive plan;

  • Management Incentive Plan means the Company’s bonus program, as implemented by the Company’s board of directors from time to time and pursuant to which the Executive may receive incentive-based compensation at fiscal year end.

  • Share Incentive Plan means any plan of the Company in effect from time to time pursuant to which Common Shares may be issued, or options or other securities convertible or exercisable into or exchangeable for Common Shares may be granted, to directors, officers, employees, and/or consultants, of the Company and/or its Subsidiaries, including, for greater certainty, the Company’s 2018 Stock Option Plan, as amended.

  • Other Incentive Award means an Award denominated in, linked to or derived from Shares or value metrics related to Shares, granted pursuant to Section 9.6 hereof.

  • Incentive Pay means an annual amount equal to the aggregate annual bonus, in addition to Base Pay, made or to be made in regard to services rendered in any calendar year or performance period pursuant to any bonus plan of the Company.

  • Incentive Bonus means a bonus opportunity awarded under Section 9 pursuant to which a Participant may become entitled to receive an amount based on satisfaction of such performance criteria as are specified in the Award Agreement.

  • Incentive Award means the right to receive a cash payment to the extent Performance Goals are achieved, and shall include “Annual Incentive Awards” as described in Section 10 and “Long-Term Incentive Awards” as described in Section 11.