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Establishment and Purpose
Establishment and Purpose contract clause examples

PURPOSE. The purpose of The Sherwin-Williams Company 2005 Director Deferred Fee Plan (the “Plan”) is to provide non-employee Directors of the Company with the opportunity to defer taxation of all or a portion of such Director’s Fees that would otherwise be payable to them.

Purpose. This Plan, which shall be known as the "Ford Motor Company Annual Performance Bonus Plan" (formerly known as the Ford Motor Company Annual Incentive Compensation Plan) and is hereinafter referred to as the "Plan," is intended to increase shareholder value and the success of the Company by motivating employees of the Company # to perform to the best of their abilities and # to achieve the Company’s short-term performance objectives by incentivizing such employees to achieve certain short-term performance goals.

Purpose. The purpose of this Plan is to enhance the Company’s ability to attract, motivate, reward and retain employees, to strengthen their commitment to the success of the Company and to align their interests with those of the Company’s stockholders by providing additional compensation to designated employees of the Company based on the achievement of performance objectives. To this end, the Plan provides for the payment of annual cash incentive awards to eligible employees of the Company, the payment of which will be based on the achievement of one or more Performance Objectives during a Plan Year. The Plan shall remain in effect for successive Plan Years unless and until terminated by the Committee pursuant to Article 6. Unless otherwise specified by the Committee or the CEO, as applicable, the Performance Objectives include Company Performance Objectives and Individual Performance Objectives. Company Performance Objectives are designed to focus on overall corporate, segment or business unit financial or operational results that drive stockholder value. Individual Performance Objectives are intended to measure individual goals and competencies and to motivate and reward outstanding individual performance.

Purpose. The Brinker International, Inc. 1999 Stock Option and Incentive Plan For Non-Employee Directors and Consultants (the "Plan") has been established by Brinker International, Inc. (the "Company") to provide a means through which the Company may attract able persons to serve on its Board and to act as consultants or advisors and to provide such individuals with an interest in the Company’s welfare and to furnish them an incentive to continue their services for the Company.

Purpose. This document is adopted by Perdoceo Education Corporation (”Company”) and sets forth the terms and conditions for Participants who have been selected to participate in the Perdoceo Education Corporation 2023 Annual Incentive Plan.

Purpose. Delshah and Judo have previously entered into a Credit Agreement dated October 15th, 2015 (the "Credit Agreement). By way of this Termination Agreement, Delshah and Judo desire to completely and immediately terminate the Credit Agreement, and acknowledge and agree that, neither party shall have any obligation or liability to the other in connection with the Credit Agreement.

Purpose. The purpose of the Plan is to advance the interests of the Company and its stockholders by providing to certain key employees additional incentives and motivation toward superior performance of the Company and its Subsidiaries through the opportunity to acquire equity ownership in the Company, and by enabling the Company and its Subsidiaries to attract and retain the services of employees upon whose judgment, interest, and special effort the successful conduct of its operations is largely dependent. At the same time, the Board and Committee will work together to ensure that the implementation of the Plan, in conjunction with the Company’s other compensation policies and practices, does not create risks that are reasonably likely to have a material adverse effect on the Company.

PURPOSE. This Stock Option Plan (the “Plan”) is intended to serve as an incentive to, and to encourage stock ownership by, certain eligible participants rendering services to [[Organization A:Organization]], a California corporation (the “Corporation”), and certain affiliates as set forth below, so that they may acquire or increase their proprietary interest in the Corporation.

Purpose. The purpose of this Agreement is to provide for treatment of Executive as fully-vested under the Salaried Employee Pension Plan (the “Pension Plan”) and the Amended and Restated 2005 Excess Defined Benefit Pension Plan (the “Pension SERP”) in the event that his employment under that certain Employment Agreement between the Company and Executive (the “Employment Agreement”) is terminated, under certain circumstances, prior to the attainment of full vesting under the Pension Plan and Pension SERP.

PURPOSE. The Plan is intended to provide incentives to directors, officers, advisors, consultants, key employees, and others expected to provide significant services to the Company and its Subsidiaries, including the personnel, employees, officers and directors of the other Participating Companies, to encourage a proprietary interest in the Company, to encourage such key personnel to remain in the service of the Company and the other Participating Companies, to attract new personnel with outstanding qualifications, and to afford additional incentive to others to increase their efforts in providing significant services to the Company and the other Participating Companies. In furtherance thereof, the Plan permits awards of equity-based incentives to key personnel, employees, officers and directors of, and certain other providers of services to, the Company or any other Participating Company.

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