An "Executive Review" clause typically stipulates that certain decisions or actions under the contract will require the approval or evaluation of an executive or senior leadership team. It ensures that critical matters receive high-level oversight to align with the organization's strategic goals and interests.
Quarterly, at a minimum, plan participants are generally required to submit MBO updates within two (2) weeks of the preceding quarter end to his/her manager. At year end, final results are to be submitted through this same process, which will go through an Executive review prior to final submission/approval by the President & CEO and the Board of Directors. This process generally occurs in mid-first quarter after the prior year closing and annual audit conclusion.
You will continue to be eligible for consideration for an annual equity incentive as per Boston Scientific's Long Term Incentive Program during the normal executive review process. An award will depend on both company and individual performance. The current program provides for a mix of performance shares, options, and deferred stock units. ·
Capital allocation and dividend: As part of a comprehensive effort to manage the company’s cash position through this period of uncertainty, all capital projects are undergoing executive review to prioritize projects and defer spending where possible to maximize liquidity. We also expect to have the ability to fund the current dividend.
An Executive Review is a formal assessment process typically conducted by senior management to evaluate significant projects, business strategies, or performance metrics. It involves a comprehensive examination of plans, progress, and potential outcomes to ensure alignment with the organization’s strategic goals. The review process often includes a presentation of key data, insights, and recommendations for decision-making.
An Executive Review should be conducted at critical junctures in a project or business cycle, such as:
Writing an effective Executive Review requires clarity, conciseness, and strategic focus. Follow these steps to craft a comprehensive review:
Example: In preparing the review, start with an executive summary that encapsulates the primary objectives and outcomes expected. Follow up with detailed sections for easier comprehension by busy executives.
Executive Reviews are essential components in various types of contracts where oversight and strategic assessment are necessary. These include:
Example: An Executive Review might be stipulated in a technology vendor contract to ensure milestones are met and deliverables are reviewed quarterly.
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Dive deeper into the world of clauses and learn more about these other clauses that are used in real contracts.
The clause "Exhibits attached hereto" refers to supplementary documents that are attached to the primary contract and are considered an integral part of it. These exhibits provide additional details, specifications, or terms that are referenced in and incorporated by the main contract document.
The "Extension of Agreement" clause stipulates that the existing contract may be prolonged beyond its original end date under certain agreed-upon conditions, which can include mutual consent, automatic renewal, or fulfillment of specific criteria. This clause ensures continuity in the business relationship, avoiding disruptions while providing an opportunity to renegotiate terms if needed.
The Exterior Signage clause outlines the specific requirements, guidelines, and approvals necessary for placing and maintaining external signs on a property. It specifies the permissible size, design, location, and the process for obtaining consent from relevant parties or authorities.
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