-18 Long-Term Performance Award The Employee will be eligible to receive a pro rata (12/36) payment under the 2016-18 Long-Term Performance Award Program based on factors set forth in the original performance award granted to the Employee The award, if any, will be paid after the end of the LTPA program period in accordance with the terms of the Program
The Corporation may also provide for a long-term award from time to time for selected Participants as designated by the Committee. These awards will be granted for attainment of longer-term goals, usually for three (3) years or longer. Such awards will consist of two distinct parts: # an amount payable in cash and earned immediately; and # an amount in market value shares of common stock. At the end of the performance period the Committee shall determine # the amount of cash earned, which shall be paid in a lump sum after the end of the performance period and # the number of shares. These shares of stock are fixed at a maximum amount and will be subject to a substantial risk of forfeiture over the succeeding five (5) years based on the Participant remaining with the Corporation and the Corporation continuing to have positive net income calculated as of the end of each calendar year, as described in [Section 8] as the Forfeiture Period. The total value of cash and stock as of the end of each performance period shall not exceed . Total long-term awards paid in a single calendar year to a single Participant made in cash and in shares shall not exceed in the aggregate.
Long Term Incentive Award. You will be eligible to participate in the Company's annual long-term incentive equity grant program beginning with the 2018 performance year. The grant date for your 2018 award will occur on the first MDCC meeting after the Effective Date, and will have a targeted grant value of $2.75 million. Awards after 2018 will be in the range of $2.5- 3.0 million, as determined in accordance with normal Company procedures. The awards shall be delivered in equity (RSUs, stock options and/or performance stock units) and have terms and conditions consistent with awards made to other similarly situated officers of the Company.
Long Term Incentive Award (“LTIP Award”). You will be eligible to participate in the Company’s annual long-term incentive equity grant program with a targeted grant fair value of $6,000,000. For the performance year 2020, you will receive a pro-rated targeted grant fair value of $3,000,000, which will be approved and granted at the first meeting of the Management Development and Compensation Committee after the Effective Date, and will be delivered 50% in Performance Stock Units (based on a Monte Carlo calculation), 30% in Stock Options (based on a Black Scholes methodology), and 20% in Restricted Stock Units ( based on the 30 day average prior to and including the grant date). All LTIP Awards will be governed by the terms and conditions consistent with awards made to other similarly situated officers of the Company.
Long-term Consideration for Award. The Participant recognizes and agrees that the Company’s key consideration in granting this Award is securing the long-term commitment of the Participant to serve as a [include job title or description of the Participant] who will advance and promote the business interests and objectives of the Company and/or its Affiliates (the “Company Group”). Accordingly, the Participant agrees that this Award shall be subject to the terms and conditions set forth in Section 26 of the Plan (relating to the termination, rescission, and recapture if you violate certain commitments made therein to the Company Group), as well as to the following terms and conditions as material and indivisible consideration for this Award:
Grant of Contingent 2016-2018 Long Term Performance Award. The Management Development and Compensation Committee ("Committee") of the Board of Directors ("Board") of General Electric Company ("Company") approved a Contingent 2016-2018 Long Term Performance Award ("Award") for
Grant of Long-Term Incentive Award. Pursuant to Section 10 of the Plan, the has granted to the Grantee, effective as of , 20 (the “Grant Date”), a long-term incentive award (the “Long-Term Incentive Award”) with a target value of (the “Target Award”), subject to all of the terms and conditions of this Agreement, the Plan, and the Statement of Performance Goal approved by the Committee with respect to the Long-Term Incentive Award and communicated to the Grantee (the “Statement of Performance Goal”). The actual amount, if any, to be paid to the Grantee in respect of the Long-Term Incentive Award will be determined and certified by the Committee pursuant to the terms of this Agreement and the Statement of Performance Goal; provided, however, that the Committee shall have the right in its sole discretion to adjust the amount of the Long-Term Incentive Award determined in accordance with the Statement of Performance Goal.
Payment of Long-Term Incentive Award. The Long-Term Incentive Award shall be paid to the Grantee (or the Grantee’s beneficiary, if applicable) in a number of Common Shares (rounded up or down to the nearest whole Common Share) equal to # the amount, if any, of the Long-Term Incentive Award determined pursuant to the applicable subsection of this Agreement, divided by # the Value per Share, payable in the calendar year following the final day of the NAI-1534978711v2
“Obligations” means any and all indebtedness or other obligations of the [[Organization A:Organization]] to the in any capacity, now existing or hereafter incurred, however created or evidenced, regardless of kind, class or form, whether direct, indirect, absolute or contingent (including obligations pursuant to any guaranty, endorsement, other assurance of payment or otherwise), whether joint or several, whether from time to time reduced and thereafter increased, or entirely extinguished and thereafter reincurred, together with all extensions, renewals and replacements thereof, and all interest, fees, charges, costs or expenses which accrue on or in connection with the foregoing, including any indebtedness or obligations # not yet outstanding but contracted for, or with regard to which any other commitment by the exists; # arising prior to, during or after any pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding; # owed by the [[Organization A:Organization]] to others and which the obtained, or may obtain, by assignment or otherwise; and # payable under this Agreement.
The Executive is hereby awarded Performance Units with a value of $ per unit at the payment date. The Executive shall earn a percentage of the Performance Unit award upon achievement of a Performance Goal based on the Return on Invested Capital (ROIC) as a percentage of the cost of capital during the period January 1, through December 31, . ROIC is calculated by taking net income before after-tax cost of interest divided by total capital. The Performance Goal is calculated as follows:
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