EIP Award definition
Examples of EIP Award in a sentence
In order to receive full Separation Benefits (including but not limited to full ISEP and the Special Exercise Period described in paragraph 5 above) and the 1998 EIP Award, and in order for your participation in the LTIP Performance Bonus Award Cycles to be as described in paragraph 5 above, you will be required to sign a release upon the expiration of the Special Assignment Period.
The actual amount, terms and conditions and the form of payment of any EIP Award will be determined by the Committee in its sole discretion, in accordance with the terms of the EIP.
Further, if Executive's Involuntary Termination occurs on or after the date an award has been earned under the EIP, but prior to the date such award is paid, Executive shall receive an additional lump sum cash payment in an amount equal to his Targeted EIP Award.
The terms and conditions, including the date and the form of payment, of each EIP Award shall be determined by the Committee in its sole discretion, in accordance with the terms of the EIP and the award agreement reflecting such EIP Award.
On or prior to February 28 of each calendar year of the Term, you will be eligible for an award under the EIP (each, an “EIP Award”) of that number of share units under the EIP equal to 100% of your Base Salary divided by the Fair Market Value (as defined in the 2010 Share Incentive Plan) of a Common Share (as defined below) on the date of grant of such EIP Award, with a Performance Cycle (as defined in the EIP) of three years.
Both the grant of any EIP Award and vesting of any awards pursuant to the EIP Award shall be in accordance with the terms and conditions of the award agreement for such EIP Award and the applicable shareholder-approved stock plan and shall be subject to the Board and/or the Compensation Committee’s approval.
Both the grant of any EIP Award and vesting of any earned restricted stock units pursuant to the EIP Award shall be in accordance with the terms and conditions of the award agreement for such EIP Award and the applicable shareholder-approved stock plan (which currently is the Spectrum Brand Holdings, Inc.
The terms of the FY2020 Grant and any subsequent EIP Award shall be set forth in separate documentation in award agreements (in the Company’s form) and the terms and conditions of such award agreement shall govern in all respects, unless such award agreement explicitly provides otherwise.
On or prior to February 28 of each calendar year during the Term, you will be eligible for an award under the EIP (each, an “EIP Award”) of that number of share units under the EIP equal to 100% of your Base Salary divided by the Fair Market Value (as defined in the 2010 Share Incentive Plan) of a Common Share (as defined below) on the date of grant of such EIP Award, with a Performance Cycle (as defined in the EIP) of three years.
In the event that your employment with the Company terminates upon or after the expiration of the Term, you shall be entitled to receive payment in respect of each EIP Award on a prorated basis based on your period of service with the Company and the performance levels achieved by the Company for the Performance Cycle as of the end of the fiscal quarter preceding the termination of your employment with the Company, provided that such payment shall be conditioned upon compliance with Section 16 hereof.