Examples of New Incentive Plan in a sentence
The new incentive plan provided for in Section 6.5 of the Merger Agreement (the "New Incentive Plan") shall be designed to provide employees of New Dreyer's and its Subsidiaries with earnings opportunities that are not less favorable than their earnings opportunities under the Current Program, and that are competitive with market practices.
The other terms and conditions of the New Incentive Plan shall be comparable to those of the Current Program.
In the case of employees who are parties to employment agreements with the Company, such earnings opportunities shall be designed to meet the requirements of the preceding sentence over the length of the term of those agreements and such employees will have the opportunity to earn the full amounts which are made available to them under the New Incentive Plan during the term of those agreements.
The Company shall engage a consulting firm chosen by mutual agreement between the Company and Nestle to design the New Incentive Plan, subject to the approval of the Board of Directors of New Dreyer's, which approval shall be sought and obtained as soon as practicable after the Effective Time.
For additional details, please refer to our press release “StoneCo Announces New Incentive Plan Pool” as of June 2, 2022.
Certain New Common Stock shall be reserved for issuance under the New Incentive Plan, in addition to shares reserved that may be issued pursuant to the Emergence Incentive Plan, as the Emergence Incentive Plan may be modified, with the consent of the Creditors’ Committee and the Ad Hoc Bondholders’ Committee, which consent shall not be unreasonably withheld, and which modification shall be disclosed in the Plan Supplement.
CIVC will use its best efforts to approve and adopt the New Incentive Plan immediately prior to the completion of the Business Combination.
No shareholding by employees has been envisaged, with the exception of the aforementioned provisions regarding the Stock Option Plan and the New Incentive Plan.
Annex 1Principal Features of The Blackbird plc Long Term Incentive Plan 2019If the adoption of the New Incentive Plan is approved by shareholders, the Board of Directors of the Company (the "Board") may adopt such plan rules as they consider necessary or desirable to give effect to the Plan.
According to Alder and Gilbert (2006), there are times that a decision may be based on more than hiring the best candidate.