Management Incentive. Plan As defined in the Term Sheet. Merger Those certain transactions on or around March 24, 2015, by and among the predecessors to the Debtors and the completion and production business of Nabors, effectuating a merger of such entities. Mineral Contractor Claim Any Claim that is secured by, or in the reasonable judgment of counsel to the Company may be secured by, a lien on property of a customer of the Debtors arising under chapter 56 of the Texas Property Code, or any similar federal, state, or local law, whether or not such Claim is or may be secured by a lien on property of the Debtors. Nabors Xxxxxx Industries Ltd. New Board As defined in the Term Sheet. New Common Equity Pool 100% of the New Common Stock issued and outstanding on the Effective Date to be distributed to the holders of Allowed Lender Claims in accordance with the Plan, subject to dilution on account of the Management Incentive Plan, the Rights Offering, the Backstop Fee, and the New Warrants. New Common Stock The common stock of Reorganized C&J Energy. New Warrants As defined in the Term Sheet. Other Priority Claim Any Claim other than an Administrative Claim or a Priority Tax Claim entitled to priority in right of payment under section 507(a) of the Bankruptcy Code. Other Secured Claim Any Secured Claim, including any Secured Tax Claim, other than a Lender Claim or a DIP Facility Claim. For the avoidance of doubt, “Other Secured Claims” includes any Claim arising under, derived from, or based upon any letter of credit issued in favor of one or more Debtors, the reimbursement obligation for which is either secured by a Lien on collateral or is subject to a valid right of setoff pursuant to section 553 of the Bankruptcy Code. Term Definition Petition Date The date on which the Chapter 11 Cases were commenced. Plan As defined in the Term Sheet. Plan Restructuring Documents As defined in the RSA. Plan Supplement Any compilation of documents and forms of documents, agreements, schedules, and exhibits to the Plan, which shall be filed by the Debtors no later than 7 days before the Confirmation Hearing or such later date as may be approved by the Bankruptcy Court on notice to parties in interest, and additional documents filed with the Bankruptcy Court prior to the Effective Date as amendments to the Plan Supplement, each of which shall be consistent in all respects with, and shall otherwise contain, the terms and conditions set forth in the RSA and Term Sheet, where applicable, and shall be...
Management Incentive. Plan As soon as practicable after the Effective Date, a management incentive plan (the “Management Incentive Plan”) acceptable to the Committee shall be implemented for designated members of senior management of Reorganized Xxx. Xxxxxx. · The Board of Directors of Reorganized Xxx. Xxxxxx will have authority to establish the Management Incentive Plan, with warrants and/or options for up to 10% of the New Common Equity, on a fully diluted basis, being reserved for issuance to management under the Management Incentive Plan set at the same strike price as the Warrants. Plan Filing and Sponsorship The Plan shall be filed by Xxx. Xxxxxx as debtors-in-possession and the Committee shall be considered the sponsor and co-proponent of the Plan. The Committee shall be entitled to reimbursement of the Restructuring Fees of its legal advisors. There shall be no modification of the Plan without the explicit consent of the Committee. Releases and Exculpation · To the greatest extent permissible by law, the Restructuring shall provide for the release by the Debtors of any and all claims or causes of action, known or unknown, relating to any acts or omissions, except for willful misconduct or fraud, committed by any of the following: · All officers, directors, employees, legal and financial advisors, and other representatives of the Company or the Debtors, in their capacity as such; · All shareholders of the Company or the Debtors or of their direct or indirect parent entities, in their capacity as such; and · The Committee, including its legal advisors, in their capacity as such (collectively, the “Released Parties”). · The Restructuring shall provide for the granting of mutual releases between and among all of the Released Parties, except for claims resulting from willful misconduct or fraud. · To the greatest extent permitted under applicable law, the Released Parties shall also not have or incur any liability for any act or omission in connection with, related to, or arising out of, the Restructuring, the Bankruptcy Cases, the pursuit of confirmation of the Plan, the consummation of the Plan or the administration of the Plan or the property to be distributed under the Plan except for claims resulting from willful misconduct or fraud. Other Provisions · Executory contracts and unexpired leases shall be assumed or rejected pursuant to a schedule to be attached to the Disclosure Statement or Plan supplement, which shall be subject to approval by the Committee in its sole d...
Management Incentive. Plan As defined in this Restructuring Term Sheet.
Examples of Management Incentive in a sentence
Executive shall participate in any Management Incentive Compensation Plan adopted by the Company or in such other bonus plan as the Board may approve for the senior executives of the Company.
The Serica 2005 Option Plan is comprised of two parts, the basic share option plan and a part which constitutes an Enterprise Management Incentive Plan (“EMI Plan”) under rules set out by the H.M. Revenue & Customs in the United Kingdom.
Rate base is prepared consistent with the rate making treatments approved in the Final Order, and as in GUD 10580 as specifically related to capitalized incentive compensation (Management Incentive Plan, Variable Pay Plan and Long Term Incentive Plan) for Atmos’ Shared Services Unit.
Incentive compensation (Management Incentive Plan, Variable Pay Plan and Long Term Incentive Plan) related to Atmos’ Shared Services Unit will be applied consistent with treatment approved in GUD 10580.
Options granted under the Plan will vest according to the same terms as the 1997 Management Incentive Plan.
More Definitions of Management Incentive
Management Incentive. Plan As defined in the Term Sheet.
Management Incentive. Plan As soon as reasonably practicable after the Effective Date, the Reorganized Company will adopt a management incentive plan, which management incentive plan shall reserve up to 5.0% of the New Common Stock in the Reorganized Company on a fully diluted basis, and which shall be on the terms and conditions (including any and all awards granted thereunder) to be determined at the discretion of the New Board (including, without limitation, with respect to the participants, allocation, timing, and the form and structure of the options, warrants, and/or equity compensation (the “Management Incentive Plan”). SEC Reporting The Reorganized Company shall continue as a public reporting company under applicable U.S. securities laws. The Reorganized Company shall continue to file annual, quarterly and current reports in accordance with the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder. Stock Exchange The Company shall use commercially reasonable efforts to list the New Common Stock for trading on The NASDAQ Capital Market, the NASDAQ Global Market, the New York Stock Exchange or any other national securities exchange reasonably acceptable to the Company and the Noteholder Committee with such listing to be effective on the Effective Date. Restructuring Fees and Expenses The Debtors shall pay all reasonable and documented fees and out of pocket expenses of one primary counsel to the Noteholder Committee, Akin Gump Sxxxxxx Hxxxx & Fxxx LLP (“Akin”), Axxxxx Xxx, MJM, one local law firm (and with the consent of the Debtors, more than one local law firm) in each relevant jurisdiction outside of the United States and England & Wales, as counsel to the Noteholder Committee, and one financial advisor to the Noteholder Committee, Evercore Group L.L.C. (“Evercore”), in each case, that are due and owing after receipt of applicable invoices, without any requirement for the filing of fee or retention applications in the Chapter 11 Cases, and in accordance with the terms of the applicable engagement letters, with any balance(s) paid on the Effective Date (collectively, the “Restructuring Expenses”). Tax Matters The parties will work together in good faith and will use commercially reasonable efforts to structure and implement the Restructuring and the transactions related thereto in a tax efficient and cost-effective manner for the Company and the Noteholders to the extent practicable. The parties intend to structure the Restruc...
Management Incentive. Plan The New Board shall retain the right to enact or amend a Management Incentive Plan (“MIP”), including a MIP that will result in the dilution of all holders of Closing Date Equity, the Existing Warrants, and New Warrants on a pro rata basis.
Management Incentive. Plan On or as soon as reasonably practicable after the effective date of the Plan, a management incentive plan (the "Management Incentive Plan") shall be implemented to reserve for designated members of senior management of the Reorganized Company equity interests (including restricted common stock and/or options) in Reorganized SGI in an amount not to exceed 10% of the New Common Stock. The Management Incentive Plan shall be in form and substance acceptable to both the Company and the Ad Hoc Committee. The Management Incentive Plan shall be disclosed prior to the deadline for voting on the Plan. Corporate Governance On the effective date of the Plan, the Board of Directors of Reorganized SGI shall be comprised of five (5) members which shall be selected by the Ad Hoc Committee. The identities of the members of the Board of Directors shall be disclosed prior to the commencement of the hearing to consider confirmation of the Plan. Affiliate Transactions Other than as contemplated by the Plan, for a period of two years from and after the effective date of the Plan, in the event that Reorganized SGI consummates any transaction with any holder of 10% or more of the New Common Stock or any of such holder's affiliates (each, an "SGI Affiliate") pursuant to which Reorganized SGI sells assets to, issues New Common Stock or any right to acquire New Common Stock to, repurchases stock from, or borrows from or lends to such SGI Affiliate in a private transaction, in each such case, in an amount greater than $25,000,000 (each an "Affiliate Transaction") Reorganized SGI shall obtain a written opinion from an independent nationally recognized financial advisor as to the fairness to Reorganized SGI of the Affiliate Transaction.
Management Incentive means an amount equal to twenty percent (20%) of the Surplus Cash Flow of Borrower for the immediately preceding fiscal year pursuant to the calculation on Exhibit 1.5(B).
Management Incentive. Plan shall mean each of the Management Incentive Plan of Regional, dated as of March 21, 2007, and the Regional Management Corp. 2011 Stock Incentive Plan, as each may be amended, modified, restated, replaced or supplemented from time to time in accordance with Paragraph 8.14. Maturity Date shall have the meaning specified in Paragraph 3.1. Mortgage Loan shall mean a Large Loan Contract which is secured by real property. Multiemployer Plan means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which any Borrower, guarantor or ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated to make contributions. Net Balance shall mean, as of the date of determination, the Gross Contract Payments of Contract less all unearned interest, fees, and charges owing by the Contract Debtor.
Management Incentive means any accrued and unpaid management incentive for the fiscal year ending December 31, 2016 and any transaction bonus, discretionary bonus, success fee, equity award, change-of-control payment, phantom equity payout, “stay put” or other compensatory payment obligations that becomes payable upon the Closing, including the Vested Amount payable to Jared Bringhurst at Closing under the Deferred Bonus Plan and the severance payable to Johnson pursuant to the Separation Agreement.