Incentive Compensation Payments Sample Clauses

Incentive Compensation Payments. 37 ARTICLE XIII.
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Incentive Compensation Payments. As an incentive to efficient and profitable management, there is hereby authorized to be set aside for payment, for any fiscal year, beginning with the year 1954, as additional compensation to officers, heads of departments and other executives and key employees of the Corporation and its subsidiaries whose work most affects the Corporation's earnings, amounts which, in the aggregate, shall not exceed 3% of the consolidated net income during such year of the Corporation and its subsidiaries, before deducting Federal or state taxes based on income and before any provision for such additional compensation, provided that no such additional compensation shall be paid for any year unless cash dividends shall be paid in that year on the Common Stock of the Corporation at the rate of at least $2 per share as constituted at January 1, 1954. Such consolidated net income shall exclude, to the extent that the Committee hereinafter mentioned shall in its discretion deem proper, the whole or any part of any item of unusual or non-recurring income or loss not arising in the ordinary course of business. Such aggregate amounts of 38 additional compensation for any fiscal year shall be in addition to deferred portions of additional compensation authorized for a prior year or years. Subject to the foregoing limitations (which shall not be changed without the approval of the holders of a majority of the outstanding stock of the Corporation having general voting power), the total amount of additional compensation, if any, that may be authorized for any year, the participants in such additional compensation, the apportionment thereof among such participants and the time or times of payment thereof shall be determined by a Committee of the Board of Directors consisting of not less than three nor more than five of those Directors who are not entitled to share in the payments or who shall have advised the Board of Directors in writing that they irrevocably have elected not to participate in the payments, as the Chairman of the Board of Directors shall appoint to such Committee from time to time. Said Committee, which shall act by a majority of its members, shall be authorized to determine that any award to any participant for any year shall be paid at one time or to direct the payment of all or any part thereof in such deferred installments over a period of not exceeding ten consecutive years commencing not later than the tenth year following the year for which the award was made...
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Incentive Compensation Payments. The Employee is a participant in the Company’s Annual Incentive Compensation Plan and the 2006 Long Term Incentive Plan (collectively, the “Incentive Plans”). In full settlement of all obligations and liabilities of the Company to the Employee under the Incentive Plans, the Company shall pay to the Employee an amount equal to $197,667 (the “Incentive Amount”), which Incentive Amount shall be paid to the Employee during the six month period beginning September 1, 2007 and ending February 28, 2008 (the “Incentive Pay Period”) (or, in the event of his death before the end of the Incentive Pay Period, to his surviving spouse, or if he shall leave no surviving spouse, then to his estate) in six (6) equal monthly installments of $32,944.50 in accordance with the Company’s normal payroll cycle during the Incentive Pay Period.
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Incentive Compensation Payments. Seller shall retain the liability for (and be liable for the payment of) all amounts earned by a Transferred Employee under the Benefit Plans that provide incentive compensation in which such Transferred Employee is eligible to participate (determined as of immediately prior to the applicable Transfer Date) for periods of service through the day immediately prior to the applicable Transfer Date. From and after the Closing Date, Purchaser or Purchaser’s Affiliate shall be liable for the payment of incentive compensation, if any, to the Transferred Employees for service with Purchaser or Purchaser’s Affiliate from and after the applicable Transfer Date.
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Incentive Compensation Payments. In consideration of the termination of the ------------------------------- Succession Agreement and the execution of this Agreement, the Executive shall be entitled to the compensation and benefits set forth in this Section 2.
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Incentive Compensation Payments. On the Retirement Date, Bxxxxxxxxx shall be entitled to the payment of $177,216 (the “Target Bonus Amount”). This amount shall be paid to Bxxxxxxxxx within ten days of either the Retirement Date or the date of execution of this agreement, whichever is later. In addition, to the extent the Compensation Committee of Align’s Board of Directors approves a performance modifier related to its executive officer incentive awards of greater than one (1), Align agrees to multiply the Target Bonus Amount by the applicable performance modifier and remit to Bxxxxxxxxx any amount greater than the Target Bonus Amount by check made payable to Exxxx Xxxxxxxxxx and delivered to Bxxxxxxxxx’x home address no later than January 31, 2008 (the “Additional Bonus Amount”). Each of the Target Bonus Amount and the Additional Bonus Amount shall be paid less applicable deductions and withholdings.
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Incentive Compensation Payments. The Seller shall make pro-rata incentive compensation payments pursuant to The Economic Value Added Incentive Compensation Plan (the “Seller IC Plans”) for the 2009 incentive compensation period prior to the Closing Date to the Transferred Employees who are participants in such Seller IC Plans as of the Closing Date. The incentive compensation payment for each such Transferred Employee shall be determined at target and in accordance with the formula set forth in, and other terms of, such Seller IC Plans, as in effect on the Effective Date and shall be pro-rated by multiplying each such incentive compensation payment by a fraction the numerator of which is the number of days from the beginning of the applicable incentive compensation period to the Closing Date and the denominator of which is the number of days in the applicable incentive compensation period. The Seller shall retain, and neither the Buyer nor any of its Affiliates shall be responsible for, any liability or obligation for any payments that are or become due to Transferred Employees under the Seller IC Plans.
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Incentive Compensation Payments. Seller shall retain (and be liable for the payment of) all amounts earned by a Transferred Employee under the Benefit Plans that provide incentive compensation in which such Transferred Employee is eligible to participate (determined as of immediately prior to the applicable Transfer Date) for periods of service through the day immediately prior to the applicable Transfer Date. From and after the Closing Date, Purchaser shall be liable for the payment of incentive compensation to the Transferred Employees for service with Purchaser from and after the applicable Transfer Date.
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Incentive Compensation Payments. Sales Incentives . Retroactive payments . Choices earnings - from Xxxxxx . High Housing cost allowances . Cost of Living adjustments . Field Premiums . Site Allowances . Per Diem . Sign on Bonus . Option exercise earnings from Xxxxx Xxxxxx . Imputed Income . Tuition aid . Military pay/jury duty . Other, as required
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Related to Incentive Compensation Payments

  • Cash and Incentive Compensation For clarification, it is understood by all parties that other than as specified herein, the Company is not obligated to award any future grants of stock options or other form of equity compensation to Executive during Executive's employment with the Company.

  • Cash Incentive Compensation During the Term, the Executive shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executive’s initial target annual cash incentive compensation shall be 40 percent of the Executive’s Base Salary. Except as otherwise provided herein, to earn cash incentive compensation, the Executive must be employed by the Company on the day such cash incentive compensation is paid.

  • Bonus and Incentive Compensation Executive shall be entitled to equitable participation in incentive compensation and bonuses in any plan or arrangement of the Bank or the Company in which Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

  • Incentive Compensation Plans The occurrence of any of the following: (i) a material reduction by the Corporation in the Executive’s (A) annual incentive compensation target or maximum opportunity, or (B) long-term incentive compensation target or maximum opportunity (measured based on grant date fair value of any equity-based awards), in each case, as in effect immediately prior to the Change in Control, or (ii) a change in the performance conditions, vesting, or other material terms and conditions applicable to annual and/or long-term incentive compensation awards granted to Executive after the Change in Control which would have the effect of materially reducing the Executive’s aggregate potential incentive compensation from the level in effect immediately prior to the Change in Control; or

  • Incentive and Bonus Compensation The Executive shall be eligible to participate in the Company’s existing and future bonus and stock option plans and other incentive compensation programs for similarly situated executives (collectively, “Plans”), to the extent that the Executive is qualified to participate in any such Plan under the generally applicable provisions thereof in effect from time to time. Such eligibility is not a guarantee of participation in or of the receipt of any award, payment or other compensation under any Plan. To the extent the Executive does participate in a Plan and the Plan does not expressly provide otherwise, the Chief Executive Officer and/or the Board, as appropriate, may determine all terms of participation (including, without limitation, the type and size of any award, payment or other compensation and the timing and conditions of receipt thereof by the Executive) in the Chief Executive Officer’s or the Board’s sole and absolute discretion. Nothing herein shall be deemed to prohibit the Company or the Board from amending or terminating any and all Plans in its sole and absolute discretion. Except as otherwise provided herein, the terms of each Plan shall govern the Executive’s rights and obligations thereunder during the Executive’s employment and upon the termination thereof. Without limiting the generality of the foregoing, the definition of “Cause” hereunder shall not supersede the definition of “cause” in any Plan (unless the Plan expressly defers to the definition of “cause” under an executive’s employment agreement) and any rights of the Executive hereunder upon and subsequent to the termination of the Executive’s employment shall be in addition to, and not in lieu of, any right of the Executive under any Plan then in effect upon or subsequent to a termination of employment.

  • Bonuses and Incentive Compensation During the Employment Term, the Executive shall have opportunities for bonuses and shall have opportunities for incentive compensation comparable to those provided to other senior executives of the Company and shall be eligible to participate in all bonus and incentive compensation plans made available by the Company, from time to time, for its senior executives.

  • Incentive Compensation The Executive shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executive’s target annual incentive compensation shall be forty five percent (45%) of their Base Salary, although any the actual incentive compensation amount shall be discretionary. To earn incentive compensation, the Executive must be employed by the Company on the day such incentive compensation is paid.

  • Bonus Compensation The Executive shall not receive any bonus payment whatsoever pursuant to Section 3.02 or the Bonus Plan except such bonus which is already earned and due to be paid up to and including the Termination Date, notwithstanding any period following the Termination Date during which the Executive may receive any payments or benefits under the terms of the Agreement.

  • Incentive Bonus Compensation The Executive shall be eligible for incentive bonus compensation for each Fiscal Year in an amount to be determined by the Board of Directors or any committee thereof ("INCENTIVE BONUS COMPENSATION").

  • Incentive Compensation Plan In addition to receipt of Basic Compensation under the Employment Agreement, you shall participate in the Incentive Compensation Plan for Executive Officers of the Company (the “Compensation Plan”) and shall be eligible to receive incentive compensation under the Compensation Plan as may be awarded in accordance with its terms.

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