Eligibility for Payments. a participant must be employed by the Company as of December 31st to be eligible for payments in the EBP. Partial payments may be made in the case of eligible terminations during the year based on financial performance through the date of termination. Plan Participants and Payout Levels: 1. Participants – All employees in this plan are to be approved by the Board of Directors for EBP participation in 2005. If an executive listed leaves during the year, a replacement would generally be eligible for equal plan participation (prorated for time in place),. 2. Payment Levels – all participants have been classified into six levels (Levels 0 – IV). Payments are made from a pool created from a percentage of the EBITDA from the plan year. The plan projections are included on page 3 of this summary (2005 Business plan Projected Results). 3. Payouts for 2005– are calculated based on the 2005 EBITDA results above and the corresponding bonus pool. Each level will have a pool and based on the number in that level, that pool will be divided equally among the participants.
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Samples: Employment Agreement (Texas Market Tire, Inc.), Employment Agreement (Texas Market Tire, Inc.), Employment Agreement (Texas Market Tire, Inc.)
Eligibility for Payments. a participant must be employed by the Company as of December 31st to be eligible for payments in the EBP. Partial payments may be made in the case of eligible terminations during the year based on financial performance through the date of termination. Plan Participants and Payout Levels:
1. Participants – All employees in this plan are to be approved by the Board of Directors for EBP participation in 2005. If an executive listed leaves during the year, a replacement would generally be eligible for equal plan participation (prorated for time in place),.
2. Payment Levels – all participants have been classified into six levels (Levels 0 0– IV). Payments are made from a pool created from a percentage of the EBITDA from the plan year. The plan projections are included on page 3 of this summary (2005 Business plan Projected Results).
3. Payouts for 20052005 – are calculated based on the 2005 EBITDA results above and the corresponding bonus pool. Each level will have a pool and based on the number in that level, that pool will be divided equally among the participants.. Other Plan Definitions:
Appears in 1 contract
Eligibility for Payments. a participant must be employed by the Company as of December 31st to be eligible for payments in the EBP. Partial payments may be made in the case of eligible terminations during the year based on financial performance through the date of termination. Plan Participants and Payout Levels:
1. Participants – All employees in this plan are to be approved by the Board of Directors for EBP participation in 2005. If an executive listed leaves during the year, a replacement would generally be eligible for equal plan participation (prorated for time in place),.
2. Payment Levels – all participants have been classified into six levels (Levels 0 0– IV). Payments are made from a pool created from a percentage of the EBITDA from the plan year. The plan projections are included on page 3 of this summary (2005 Business plan Projected Results).
3. Payouts for 20052005 – are calculated based on the 2005 EBITDA results above and the corresponding bonus pool. Each level will have a pool and based on the number in that level, that pool will be divided equally among the participants.
Appears in 1 contract
Eligibility for Payments. a participant must be employed by the Company as of December 31st to be eligible for payments in the EBP. Partial payments may be made in the case of eligible terminations during the year based on financial performance through the date of termination. Plan Participants and Payout Levels:
1. Participants – All employees in this plan are to be approved by the Board of Directors for EBP participation in 2005. If an executive listed leaves during the year, a replacement would generally be eligible for equal plan participation (prorated for time in place),.
2. Payment Levels – all participants have been classified into six levels (Levels 0 – IVTV). Payments are made from a pool created from a percentage of the EBITDA from the plan year. The plan projections are included on page 3 of this summary (2005 Business plan Projected Results).
3. Payouts for 2005– are calculated based on the 2005 EBITDA results above and the corresponding bonus pool. Each level will have a pool and based on the number in that level, that pool will be divided equally among the participants.
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