IR Bonus Plans definition
Examples of IR Bonus Plans in a sentence
As soon as practicable following the Effective Time, IR shall transfer to Allegion and Allegion shall assume, the accrued Liability related to the IR Bonus Plans for each Allegion Group Employee for the portion of the applicable performance period beginning on the first day of the applicable performance period and ending on the Effective Time.
Following such determination, the Allegion Group shall pay each Allegion Group Employee the applicable bonus amounts in the same form and on the same timing that each Allegion Group Employee would have received such bonus or similar short-term cash incentive amount under the terms of the IR Bonus Plans had the Distribution not occurred.
For purposes of determining the amount of the accrued Liability to be transferred to and assumed by Allegion, the applicable performance criteria shall be measured by IR in accordance with the terms of the applicable IR Bonus Plans for the portion of the applicable performance period up to the Effective Time and based on the 2013 forecast for IR financial results as of the Effective Time.