Example ContractsClausesLong Term Incentive Program
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Short-Term & Long-Term Incentive Compensation Plans; Severance Plans. Other than as set forth in [Exhibit A] and sections 2 and 3 above, the Executive hereby relinquishes, releases and forfeits any participation in and/or payments from any and all other annual incentive compensation, long-term incentive compensation, and other compensation plans, programs and awards, as well as from any and all benefit plans, programs, agreements or other arrangements that would provide any consideration to Executive by reason of characterizing the termination of his employment as other than a voluntary resignation, including but not limited to the Company, Inc. Severance Plan, the Executive Severance Plan and the Change In Control Agreement.

For FY’19, an Annual Performance Share award for $333,334 vesting 06/30/2019 will provide a transition into the RTSR long term incentive compensation program.

Please reference the enclosed Long-Term Incentive Plan Brochure [[Unknown Identifier]] and Stock Option Program Brochure [[Unknown Identifier]] for more details on the fiscal 2019 grant.

Employee shall become 100% vested in all benefit plans in which he participates including but not limited to the Management Savings Program portion of the Standex Annual Incentive Program and all restricted stock grants and performance share units granted under the Standex Long Term Incentive Program, or any successor plan of the Employer, and any other stock based plans of the Employer; and

The KORU Medical Systems, Inc. Long-Term Incentive Program (the “LTIP”) was adopted by the Compensation Committee of the Board of Directors (the “Committee”) to set forth the terms and conditions of the long-term incentive program of the Company, the purpose of which is to incentivize the retention and performance of certain key executives and other employees of the Company through annual equity-based awards. All equity-based awards hereunder shall be granted under, and in accordance with, the Company’s 2024 Omnibus Equity Incentive Plan (the “Incentive Plan”) and shall constitute Awards thereunder. Capitalized terms not otherwise defined herein shall have the same meanings as set forth in the Incentive Plan.

During the Term, your base salary and incentive opportunity under each of the [[Organization A:Organization]] Key Executive Short-Term Incentive Compensation Plan and the [[Organization A:Organization]] Long Term Stock Incentive Program will be the same as in effect as of the date of this letter. You will continue to be eligible for the perquisites and benefits described in your June 20, 2016 offer letter.

•You are eligible to participate in our Long-Term Incentive Program (LTIP). Masco believes a long-term incentive program provides a meaningful incentive for our executives to achieve long-term growth and profitability. The LTIP has a three-year performance period, and awards under the program are issued in the form of Performance Restricted Stock Units (PRSUs). A grant of PRSUs entitles you to receive shares of our stock if threshold performance goals are met over the three-year period. If the threshold goals are not achieved, no award will be made. If the maximum goals are exceeded, the award percentage is capped at 200% of the PRSUs granted. You will be eligible to participate in 2024-2026 LTIP. LTIP PRSUs are granted in February, subject to approval by the Compensation Committee. Your LTIP grant value target is 80% of your annual base salary.

Section #Long-Term Incentive Plan” means the Illinois Tool Works Inc. 2011 Long-Term Incentive Plan or the Illinois Tool Works Inc. 2015 Long-Term Incentive Plan, or both such plans together, as the context so indicates.

The Universal Forest Products, Inc. Executive Stock Grant Program (the "Program") was established by the Company on January 1, 2009, under the Company's Long Term Stock Incentive Plan, and was amended and restated as of June 1, 2011, and was further amended effective on January 18, 2013, June 1, 2014, and January 29, 2015, respectively.

"Program" means this Short Term Incentive Program, as amended from time to time.

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