|
|
|
|
Document Preview Long-Term Incentive Plan |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
Long-Term Incentive Plan |
|||
|
Entities: |
||||
|
Date: |
2001 |
|||
|
Size: |
Preview shows 3KB of 17KB total |
|||
|
Price: |
$32 |
|||
|
ID: |
#1115722 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
EXHIBIT 10.15
FRONTLINE CAPITAL GROUP, INC.
LONG-TERM INCENTIVE PLAN
Section 1. Purpose. This Plan is intended to provide an incentive to key
employees of FrontLine Capital Group ("FrontLine") and its Affiliates and to
members of its Advisory Board. FrontLine shall award or sell to Participants
Interests in certain Venture Capital Investments made by FrontLine.
Section 2. Defined Terms.
(a) "Advisory Board" means the Advisory Board of FrontLine.
(b) "Affiliate " means any person or entity that is controlled by,
controlling of, or under common control with, FrontLine.
(c) "Award Certificate" means a certificate or other relevant agreement
setting forth the terms of a Participant's Interest.
(d) "Board" means the Board of Directors of FrontLine.
(e) "Cash Distributions" mean any money or property distributed to
FrontLine in respect of a Venture Capital Investment (other than Equity Rights
and other than any proceeds of the disposition of such Venture Capital
Investment). Amounts paid to FrontLine as compensation, management fees, project
fees, commissions, or other similar payments shall not constitute Cash
Distributions.
(f) "Capital Event " means any (i) disposition of a Venture Capital
Investment by FrontLine in exchange for cash or readily marketable securities,
(ii) public offering of securities in or with respect to the investment, (iii)
other direct or indirect conversion or exchange of FrontLine's interest in the
investment entity into cash or readily marketable securities (including, without
limitation, any merger, reorganization, liquidation or other transaction
involving the assets or securities of FrontLine having the effect of realizing
the gain or loss with respect to FrontLine's interest in the investment entity),
or (iv) other event triggering distributions with respect to Interests as
determined by the Committee in its sole discretion.
(g) "Cause" means a finding by the Board that a Participant has (i) acted
with gross negligence or willful misconduct in connection with the performance
of his material duties to FrontLine or any Affiliate, (ii) willfully acted
against the best interests of FrontLine or any Affiliate, which act has had a
material and adverse impact on the financial affairs of FrontLine or such
Affiliate, or (iii) been convicted of a felony or committed a material act of
common law fraud against or FrontLine, any Affiliate or any of their employees
and such act or conviction has had, or the Board reasonably determines will
have, a material adverse effect on the interests of the FrontLine or any
Affiliate; provided, however, that a finding of Cause shall not become effective
unless and until the Board provides the Participant notice that it is
considering making such finding and a reasonable opportunity to be heard by the
Board.
|
End of Preview |
Home Intelligence Services Subscriptions News About Us