This example Purpose clause appears in
2 contracts
from
1 company
Purpose. Eligibility and grants 1 3. Acceptance of an Award 1 4. Taxes 1 5. Value of Awards 2 6. Covenant not to solicit; other terms and restrictions 2 7. Compliance with Applicable Laws 4 8. Investment representation 4 9. Governing law 4 10. Electronic delivery and acceptance 4 11. No rights as a shareholder 5 12. Section 409A 5 13. Other terms 5 Part B: Terms and conditions applicable to Restricted Stock Units under the Long- Term Incentive Program 6 1. Restricted Period 6 2. Settlement of Restricted ...Stock Units 6 3. Vesting or forfeiture of Restricted Stock Units following termination of Employment in specific circumstances 6 4. Section 409A 6 5. Dividend Equivalents 6 Part C: Terms and conditions applicable to Options under the Long-Term Incentive Program 8 1. Vesting and exercise 8 2. Exercise of Options 8 3. Option term 8 4. Exercise or forfeiture of Options following termination of Employment in specific circumstances 8 Part D: Terms and conditions applicable to Performance Shares and Performance Units under the Long-Term Performance Program, a sub-program of the Long-Term Incentive Program 10 1. Performance Cycle 10 2. Settlement of Performance Shares and Performance Units 10 3. Earnout: Performance Goals 10 4. Vesting or forfeiture of Performance Shares and Performance Units following termination of Employment in specific circumstances 11 5. Section 409A 11 6. Dividend Equivalents 11 Part E: Terms and conditions applicable to Book Value Units under the Book Value Performance Program, a sub-program of the Long-Term Incentive Program 13 1. Book Value Units 13 2. Vesting Period 13 3. Settlement of Book Value Units 13 4. Vesting or forfeiture of Book Value Units following termination of Employment in specific circumstances 13 5. Forfeiture 13 6. Section 409A 13 7. No Dividend Equivalents 13 Schedules 1. Definitions 15 2. Country specific variations 18 3. Form for declining an Award 20 Prudential Financial, Inc. 2014 Long-Term Incentive Program This document contains the principal terms and conditions applicable to Awards granted to employees under the Prudential Financial, Inc. Omnibus Incentive Plan (the Plan) for 2014. Specific provisions applicable to any employees selected to participate in any particular country are set out in Schedule 2. PART A: General terms and conditions 1. Purpose Prudential's 2014 Long-Term Incentive Program (the Program) is made available to employees subject to the terms of the Plan and is designed to strengthen the links between leadership, motivation and consistent performance. Employees selected to participate in the Program may be granted Awards of Performance Units valued by reference to the book value of the Common Stock (the Book Value Units), Awards of Restricted Stock Units, Options, Performance Shares, Performance Units, or a combination thereof, and will be advised of the Awards made to them in their own personalized compensation statement or a communication from their manager. The grant of Awards under the Program is subject to the terms and conditions contained in the Plan document. This document describes the principal terms and conditions of Awards granted to employees under the Plan (the Terms). Schedule 1 to these Terms contains the definitions used in these Terms. If there is any discrepancy between these Terms and the Plan document, or if there is a discrepancy between any information given by anyone acting on behalf of any member of the Company Group and the Plan document, the Plan document, as interpreted by the Compensation Committee, will always govern.View More
