Eligibility for Payout Sample Clauses

Eligibility for Payout. Payout of CSUs and the related earned Dividend Equivalents shall be made to each Participant: (1) who is employed by Sunoco or one of its Affiliates on the CSU Payout Date; or (2) whose employment relationship with Sunoco or one of its Affiliates is terminated: (i) as a result of any Qualifying Termination prior to the CSU Payout Date; or (ii) as a result of either of the following prior to the CSU Payout Date: (A) death; or (B) permanent disability or retirement (as each is determined by the Committee).
Sample 1Sample 2Sample 3See All (20)
AutoNDA by SimpleDocs
Eligibility for Payout. Except as expressly provided otherwise by the Employment Agreement, a Participant shall be eligible for a payment of earned Performance Shares and any other property only if: a. the Participant’s employment with the Company or any Subsidiary continues through the settlement of the Award pursuant to Section 6 of this Schedule B or is terminated during a Performance Cycle or prior to settlement by Retirement, in which instance the Participant will have earned the number of Performance Shares and any other property determined under Sections 4 and 5 of this Schedule B; b. the Participant’s employment with the Company or any Subsidiary is terminated due to death or Disability during a Performance Cycle, in which instance the Participant will have earned a fraction of the number of Targeted Performance Shares and any other property over the complete Performance Cycle as calculated under Sections 4 and 5 of this Schedule B, determined using a numerator that equals the number of complete calendar months (rounded to the nearest whole number of months) elapsed since the beginning of the Performance Cycle through the Participant’s date of employment termination, and a denominator that equals 36. In the event of a Participant’s death, the Participant’s beneficiary or estate shall be entitled to the Performance Shares and other property to which the Participant otherwise would have been entitled under the same conditions as would have been applicable to the Participant; provided, however, if the Participant’s employment is terminated due to death, Disability or Retirement and subsequently there occurs during the Performance Cycle a Change in Control where the Company is not the surviving entity, the Participant’s entitlement fraction shall be calculated as in subsections a. or b., as the case may be, but the number of Performance Shares against which the fraction shall be applied shall be those derived under subsection c.; c. there occurs during the Participant’s employment a Change in Control where the Company is not the surviving entity, and the surviving entity does not directly or through another entity assume or retain all outstanding obligations under the Plan upon consummation of the restructuring plan resulting in the disappearance of the Company, in which instance the Participant will be deemed to have earned the greater of: (i) 100% of the Target Performance Shares granted to the Participant in Section 2 of this Schedule B and such other property resulting fr...
Sample 1Sample 2Sample 3See All (9)
Eligibility for Payout. Payout of Restricted Units and DERs shall be made to each Participant: (1) who is employed by the Company on the earlier of the ninetieth (90th) day following the date of occurrence of such Change in Control or the day that is two and one-half (2-1/2) months following the end of the calendar year in which occurs the date of such Change in Control; or (2) whose employment relationship with the Company is terminated: (A) for Good Reason, or as a result of any Qualifying Termination prior to the the earlier of the ninetieth (90th) day following the date of occurrence of such Change in Control or the day that is two and one-half (2-1/2) months following the end of the calendar year in which occurs the date of such Change in Control; or (B) as a result of death, permanent disability or retirement (as each is determined by the Committee), that has occurred prior to the ninetieth (90th) day following the date of occurrence of such Change in Control or the day that is two and one-half (2-1/2) months following the end of the calendar year in which occurs the date of such Change in Control.
Sample 1Sample 2See All (4)
Eligibility for Payout. Participants must also work at least 1,000 hours in the Performance Period and be employed at the end of the Performance Period to be eligible for a payout.
Sample 1Sample 2
Eligibility for Payout. Payout of Restricted Units and DERs shall be made to each Participant: (1) who is employed by the Company on the ninetieth (90th) day following the date of occurrence of the Change of Control; or (2) whose employment relationship with the Company is terminated: (A) for Good Reason, or as a result of any Qualifying Termination prior to the ninetieth (90th) day following the date of occurrence of the Change of Control; or (B) as a result of death, permanent disability or retirement (as each is determined by the Committee), that has occurred prior to the ninetieth (90th) day following the date of occurrence of the Change of Control..
Sample 1Sample 2
Eligibility for Payout. Following any Change in Control, payout of Restricted Units and the related distribution equivalents shall be made to each Participant: (1) who is employed by the Company on the Payout Date; or (2) whose employment relationship with the Company is terminated: (i) as a result of any Qualifying Termination (as defined below) prior to the Payout Date; or (ii) as a result of either of the following, prior to the Payout Date: (A) death; or (B) permanent disability or retirement (as each is determined by the Committee).
Sample 1
Eligibility for Payout. Payout of PSUs and the related earned Dividend Equivalents shall be made to each Participant who is eligible as described in Section 4.9 of the Plan.
Sample 1
AutoNDA by SimpleDocs
Eligibility for Payout. Upon termination of employment, employees who have worked for at least 12 continuous months since the last date of hire will be compensated for the “cash value” of accrued, unused PTO, as defined in this Section. Employees terminating with less than 12 months of continuous employment will not have cash value of their accrued PTO balance.
Sample 1
Eligibility for Payout. Payout of RSUs and the related earned Dividend Equivalents shall be made to each Participant who is eligible as described in Section 4.9 of the Plan.
Sample 1

Related to Eligibility for Payout

  • Eligibility for Benefits 1. Sick Leave Bank benefits are available only when the member personally has a severe medical hardship (catastrophic illness or serious accident). 2. Benefits can be received only after all accumulated sick leave and vacation days have been exhausted. 3. Any member receiving Worker's Compensation or disability benefits shall not be eligible to receive benefits from the Sick Leave Bank. 4. A member who is on leave of absence, suspended, or terminated from the Xxxxxxx County Board of Education shall not be eligible for Sick Leave Bank benefits. 5. The form, entitled "Request For Sick Leave Benefits" and physician's statement are required before the SLB Review Committee will consider a request for benefits. The physician's statement shall include a history of the illness, date the illness began, a diagnosis and prognosis, and any other related information. 6. Approval by the Sick Leave Bank Review Committee is required prior to the receiving of benefits. 7. Normal pregnancies, childbirth, childcare, or child adoption shall not be considered as eligible reasons for Sick Leave Bank benefits. 8. A four (4)-member Sick Leave Bank Review Committee, consisting of two (2) members appointed by the President of the Association and two (2) appointed by the Superintendent, shall have the responsibility of receiving requests, verifying the validity of requests and approval or denial of requests. Any approval of a request must have the support of at least three (3) members of the committee Sick Leave Bank Review Committee. The Sick Leave Bank Review Committee shall develop its rules of procedure and shall give wide distribution to said rules upon approval of the President of the Association and the Superintendent.

  • Eligibility for Employer Contribution This section describes eligibility for an Employer Contribution toward the cost of coverage.

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • Eligibility for Holiday Pay A. An employee must be paid for all or a portion of both the regularly scheduled working assignment immediately prior to a holiday and the regularly scheduled working assignment immediately after that holiday in order to receive holiday pay. With County approval, compensatory time earned for working on a holiday or for a holiday falling on a regularly scheduled day off may be taken on the first scheduled working day after the holiday. B. A new employee whose first working day is the day after a holiday shall not be paid for that holiday. C. An employee who elects paid County retirement on a holiday shall be paid for the holiday. D. An employee who is terminating employment for reasons other than paid County retirement and whose last day as a paid employee is the day before a holiday shall not be paid for that holiday. E. Only regular, limited-term and probationary employees shall be eligible for holiday pay.

  • Vacation Eligibility Subject to the provisions of Sections 3., 4., 8., and 9. hereof, vacations with pay shall be granted during the vacation year to each employee, except upon dismissal for misconduct, who shall have completed a period of six (6)-months’ employment since date of engagement or reengagement, whichever is later, and who has performed work for the Company within the vacation year, as follows: a. One (1) week’s vacation to any such employee who has completed six (6) months or more but less than twelve

  • Eligibility for Leave All regular full-time employees shall be eligible for paid leave. Further, all regular part-time employees shall receive paid leave on a ration of paid leave time accrued to the number of hours worked in the work week. All non-regular part-time, temporary, and seasonal employees will not be eligible to receive paid leave.

  • Overtime Eligibility An Employee must work at least fifteen (15) minutes beyond her normal shift before being eligible for overtime compensation.

  • Eligibility for Severance Benefits The Company or its successor shall pay or provide to the Executive the Severance Benefits if the Executive has a Separation from Service and his employment is terminated voluntarily or involuntarily during the term of this Agreement, either: (a) by the Company (1) at any time within 24 months after a Change in Control of the Company, or (2) at any time prior to a Change in Control but after the commencement of any discussions with a third party relating to a possible Change in Control of the Company involving such third party, if such termination is in contemplation of such possible Change in Control and such Change in Control is actually consummated within 12 months after the date of such termination, in either case unless the termination is on account of the Executive’s death or Disability or for Cause, provided that, in the case of a termination on account of the Executive’s Disability or for Cause, the Company shall give Notice of Termination to the Executive with respect thereto; or (b) by the Executive for Good Reason (1) at any time within 24 months after a Change in Control of the Company or (2) at any time after the commencement of any discussions with a third party relating to a possible Change in Control of the Company involving such third party, if such Change in Control is actually consummated within 12 months after the date of such termination, and, in any such case, provided that the Executive shall give Notice of Termination to the Company with respect thereto. For purposes of clarity, with respect to Section 3 above, an Executive who is collecting Disability benefits will not be eligible for benefits under this Agreement. An Executive who is no longer Disabled will be eligible for benefits under this Agreement if, in the period extending from 12 months before the Change in Control to 24 months after the Change in Control, either of the following occur: (1) the Executive attempts to return to his or her position, and no such position is available, or (2) the Executive returns to employment and is subsequently terminated pursuant to Section 3(a) or Section 3(b) above.

  • ELIGIBILITY FOR COVERAGE Any employee and the dependents of an employee who meet and continue to meet the eligibility requirements described in this Contract, will be entitled to apply for coverage under this Contract. These eligibility requirements are binding upon you and your eligible dependents. We may require acceptable documentation that an individual meets and continues to meet the eligibility requirements (e.g. proof of residency, copies of a court order naming the Subscriber as legal guardian, or appropriate adoption documentation, as described in Part IV. ENROLLMENT AND EFFECTIVE DATE OF COVERAGE).

  • Employee Eligibility For purposes of this section, “eligible employee” shall be defined by the Public Employees’ Medical and Hospital Care Act.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!