Long-Term and Equity Compensation. Executive shall be eligible to participate in any long-term incentive compensation plan (including any equity-compensation plan) that may be adopted by the Company from time to time during the Term. The specific awards under any such plan will be made by the Committee in its sole discretion, commensurate with Executive’s position as President and Chief Executive Officer.
Long-Term and Equity Compensation. The Executive shall also be eligible to participate in the Company’s long-term incentive compensation plans (including its equity-compensation plans) applicable to MMC’s senior executive officers. The specific awards under these plans will be made by the Committee in its sole discretion, commensurate with the Executive’s position as Vice Chairman. Notwithstanding the foregoing, the Committee shall each year grant to the Executive, no later than it makes corresponding awards to other senior executives of the Company generally, and on terms and conditions that are both consistent with this Agreement and no less favorable to the Executive than the terms and conditions that apply to corresponding awards to other senior executives of the Company generally, long-term incentive compensation with a combined grant-date target value between one-time and two-times the Executive’s Base Salary, as determined by the Committee.
Long-Term and Equity Compensation. The Executive shall also be eligible to participate in the Company's long-term incentive compensation plans (including its equity-compensation plans) applicable to MMC's senior executive officers. The specific awards under these plans will be made by the Committee in its sole discretion, commensurate with the Executive's position as Chief Executive Officer. Notwithstanding the foregoing, the Committee shall each year grant to the Executive long-term incentive compensation comprised of (i) a restricted stock or restricted stock unit award and/or (ii) a stock option or stock-settled stock appreciation right, with a combined grant-date target value of $5.0 million, as determined by the Committee, and provided further that neither the restricted stock nor the stock option portion of the award shall comprise more than two-thirds of the total grant-date target value of the award. Each restricted stock award will vest three years from the grant date, while one-third of each stock option award will vest on each of the first, second and third anniversaries of the grant date.
Long-Term and Equity Compensation. (a) The Executive shall also be eligible to participate throughout the Term in the Xxxxxx Investments Trust Equity Partnership Plan, or any successor long-term incentive compensation plans applicable to the Company’s senior executive officers (the “Xxxxxx Equity Partnership Plan”). The Executive’s annual long term award will be calculated using the methodology set forth in Exhibit B. The calculations will begin with a starting grant-date target value of $5,000,000. The terms and conditions of awards made pursuant to this Section 3.3 shall be determined by the Committee and contained in grant documents; provided, that, subject to Section 5.6(b) hereof, the terms and conditions shall be consistent with those applicable to corresponding awards to other senior executives of the Company generally.
Long-Term and Equity Compensation. Beginning with the Company’s 2008 fiscal year, with respect to each fiscal year of the Company during the Term, the Executive shall also be eligible to participate in MMC’s long-term incentive compensation plans (including its equity-compensation plans) as determined by the Committee. The specific awards under these plans will be made by the Committee in its sole discretion, commensurate with the Executive’s position as President and Chief Executive Officer. Notwithstanding the foregoing, the Committee shall each year grant to the Executive, no later than it makes corresponding awards to other senior executives of the Company generally, and on terms and conditions that are both consistent with this Agreement and no less favorable to the Executive than the terms and conditions that apply to corresponding awards to other similarly situated participants generally, long-term incentive compensation with a combined grant-date target value of (i) $3.5 million in respect of awards granted during the 2008 fiscal year and (ii) $7 million in respect of awards granted during each subsequent fiscal year during the Term. In addition, on the Effective Date the Executive shall be granted a number of restricted stock units (the “Make-Whole RSUs”) equal to (i) $1.2 million divided by (ii)
Long-Term and Equity Compensation. The Executive shall also be eligible to participate throughout the Term in the Company’s long-term incentive compensation plans (including its equity-compensation plans) applicable to MMC’s senior executive officers. The specific awards under these plans will be made by the Committee in its sole discretion, commensurate with the Executive’s position as Chief Financial Officer of the Company. Notwithstanding the foregoing, the Committee shall each year grant to the Executive, no later than it makes corresponding awards to other senior executives of the Company generally and no less favorable to the Executive than the terms and conditions that apply to corresponding awards to other senior executives of the Company generally, long-term incentive compensation with a combined grant-date target value between one-time and two-times the Executive’s Base Salary, as determined by the Committee.
Long-Term and Equity Compensation. Executive shall be eligible to participate in any long-term incentive compensation plan (including any equity compensation plan) that may be adopted by the Company from time to time during the Term. In lieu of an annual award under the Company’s Long Term Incentive Plan during the first year of Executive’s employment, Executive shall be entitled to receive options to purchase 500,000 shares of common stock with a strike price set as the close price as of the Effective Date. 50% of these initial options will vest in equal amounts over four years, one-fourth of the amount on each of the first four anniversaries of the Effective Date. The remaining 50% of these initial options will vest in an amount described in the table below based on the Company achieving the Company’s goal of run rate synergies by the end of 2017. Percentage of Company’s goal of $7 Million of run rate synergies achieved by the end of 2017 Percentage of the remaining 50% of initial options vested 100% achievement 100% vested 90% achievement 80% vested 80% achievement 60% vested 70% achievement 20% vested If the Company achieves more than $750,000 over the goal of $7 Million of run rate synergies by the end of 2017, the Executive shall be entitled to receive an additional cash bonus of $ 69,000. Any annual award of options for subsequent years will be set independently of this initial award. Executive’s right to receive any options is contingent on Executive’s execution of a customary option grant agreement with the Company.
Long-Term and Equity Compensation. Executive shall be eligible to participate in any long-term incentive compensation plan (including any equity-compensation plan) that may be adopted by the Company from time to time during the Term. In addition to Executive’s currently held options totaling Three Hundred and Thirty Five Thousand (335,000), Executive shall be entitled to and will receive an additional Three Hundred and Twenty Five Thousand (325,000) options at the commencement of the term of this Agreement. In accordance with the appropriate Company Omnibus Employee Incentive Plan, the vesting shall take place with the following schedule: 107,250 options vest on the first anniversary of the date of this Agreement; 107,250 options vest on the second anniversary of the date of this Agreement; and 110,500 options vest on the third anniversary of the date of this agreement. Future awards, if any, will be reviewed by the CEO and made by the Committee in its sole discretion, commensurate with Executive's position as Senior Vice President and Chief Financial Officer.
Long-Term and Equity Compensation. Executive shall be eligible to participate in any long-term incentive compensation plan (including any equity compensation plan) that may be adopted by the Company from time to time during the Term. In lieu of an annual award under the Company’s Long Term Incentive Plan during the first year of Executive’s employment, Executive shall be entitled to receive options to purchase 600,000 shares of common stock with a strike price set as the close price as of the Effective Date. These initial options will vest in equal amounts over three years, one-third of the amount on each of the first three anniversaries of the Effective Date. Any annual award of options for subsequent years will be set independently of this initial award. Executive’s right to receive any options is contingent on Executive’s execution of a customary option grant agreement with the Company.
Long-Term and Equity Compensation. The Executive shall also be eligible to participate in MMC’s long-term incentive compensation plans (including its equity-compensation plans), applicable to MMC’s senior executive officers and as determined by the Committee in a manner consistent with the treatment of other senior executives. The specific awards under these plans will be made by the Committee in its sole discretion, commensurate with the Executive’s position as Executive Vice President and General Counsel of the Company and consistent with the treatment of other senior executives. Notwithstanding the foregoing, the Committee shall each year grant to the Executive, no later than it makes corresponding awards to other senior executives of the Company generally, and on terms and conditions that are both consistent with this Agreement and no less favorable to the Executive than the terms and conditions that apply to corresponding awards to other senior executive participants generally, long-term incentive compensation with a combined grant-date target value between two hundred percent (200%) and three hundred percent (300%) of the Executive’s Base Salary, as determined by the Committee; provided that the combined grant-date target value for the Executive’s long-term incentive compensation to be granted annually during the Term, the composition of which shall be determined by the Committee, shall be no less than $1.75 million.
