Common use of Short Term Incentives Clause in Contracts

Short Term Incentives. (a) Executive shall be eligible to receive incentive compensation under the STI Plan. The decision to award any incentive compensation to Executive under the STI Plan and the amount and terms of any such incentive compensation are subject to change from year to year and shall be in the sole and absolute discretion of the Compensation Committee of the Board. (b) The terms and conditions of Executive’s award under the STI Plan for calendar year 2016 are set forth in Exhibit A attached hereto. Any awards to Executive under the STI Plan for calendar years following 2016 shall be communicated to Executive pursuant to the terms of the STI Plan and need not be attached to this Agreement as an exhibit and shall not require any amendment to this Agreement. (c) The STI Plan payment made to Executive, if any, pursuant to this Section 4.2 shall be paid to Executive between January 1 and March 31 of the calendar year immediately following the calendar year to which the STI Plan payment relates. Except as otherwise provided in Sections 6.1, 6.3, 6.6 and 6.8, Executive must be actually employed on the last day of the calendar year to which the STI Plan payment relates in order to be eligible and entitled to any such STI Plan payment.

Short Term Incentives. (a) Executive shall be eligible to receive incentive compensation under the STI Plan. The decision to award any incentive compensation to Executive under the STI Plan and the amount and terms of any such incentive compensation are subject to change from year to year and shall be in the sole and absolute discretion of the Company’s Compensation Committee of Committee, with ratification by the Board. (b) The terms and conditions of Executive’s award under the STI Plan for calendar year 2016 are set forth in Exhibit A attached hereto. Any awards to Executive under the STI Plan for calendar years following 2016 shall be communicated to Executive pursuant to the terms of the STI Plan and need not be attached to this Agreement as an exhibit and shall not require any amendment to this Agreement. (c) The STI Plan payment made to Executive, if any, pursuant to this Section 4.2 shall be paid to Executive between January 1 and March 31 of the calendar year immediately following the calendar year to which the STI Plan payment relates. Except as otherwise provided in Sections 6.1, 6.3, 6.6 and 6.8, Executive must be actually employed on the last day of the calendar year to which the STI Plan payment relates in order to be eligible and entitled to any such STI Plan payment.

Short Term Incentives. (a) Executive shall be eligible to receive incentive compensation under the STI Plan. The decision to award any incentive compensation to Executive under the STI Plan and the amount and terms of any such incentive compensation are subject to change from year to year and shall be in the sole and absolute discretion of the Compensation Committee of the Board. (b) The terms and conditions of Executive’s award under the STI Plan for calendar year 2016 2017 are set forth in Exhibit A attached hereto. Any awards to Executive under the STI Plan for calendar years following 2016 2017 shall be communicated to Executive pursuant to the terms of the STI Plan and need not be attached to this Agreement as an exhibit and shall not require any amendment to this Agreement. (c) The STI Plan payment made to Executive, if any, pursuant to this Section 4.2 shall be paid to Executive between January 1 and March 31 of the calendar year immediately following the calendar year to which the STI Plan payment relates. Except as otherwise provided in Sections 6.1, 6.3, 6.6 6.4, 6.5 and 6.8, Executive must be actually employed on the last day of the calendar year to which the STI Plan payment relates in order to be eligible and entitled to any such STI Plan payment.