LTICP definition
Examples of LTICP in a sentence
The performance period for each such previously ungranted LTICP Award shall be the performance period that would have applied had the award been made at the time provided for in Section 3.4. Each such previously ungranted LTICP Award shall be delivered or paid following the applicable performance period in accordance with the terms of the award.
During the Employment Period, the Executive shall participate in all long-term incentive compensation programs (each, an "LTICP") for key executives at a level that is commensurate with the Executive's participation in such plans immediately prior to the Effective Date, or, if more favorable to the Executive, at the level made available to the Executive or other similarly situated officers at any time thereafter.
In the event of a Change of Control of the Company (as defined below), all options then granted to Employee which are unvested at the date of the Change of Control will vest pursuant to the provisions of the Company’s LTICP.
Except as expressly described herein, all such LTICP awards shall be subject to terms, conditions and restrictions comparable to those contained in awards granted for the corresponding year to executive officers under the LTICP, or such other terms, conditions and restrictions as may be approved by the O&C Committee with the concurrence of Executive.
During the Employment Period, the Executive shall participate in all long-term incentive compensation programs ("LTICP") for key executives at a level that is commensurate with the Executive's participation in such plans immediately prior to the Effective Date, or, if more favorable to the Executive, at the level made available to the Executive or other similarly situated officers at any time thereafter.
Company shall, if Executive so requests, satisfy any income tax withholding obligations in respect of the payment of any amounts under the LTICP by withholding amounts otherwise issuable to Executive under such award.
Additionally, all ungranted LTICP Awards that would have been made to Executive pursuant to Section 3.4 on or prior to the expiration date of the initial 5-year Term shall be immediately granted.
The performance period for each such previously ungranted LTICP Award shall be the performance period that would have applied had the award been made at the time provided for in Section 3.5. Each such previously ungranted LTICP Award shall be delivered or paid following the applicable performance period in accordance with the terms of the award.
Additionally, all ungranted LTICP Awards that would have been made to Executive pursuant to Section 3.4 during the one (1) year period following the date of Executive’s death or Disability shall be immediately granted.
The LTICP expired on June 27, 1999 and was replaced with the 1999 Incentive Compensation Plan (1999 Plan).