Payout Provisions Sample Clauses
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Payout Provisions. The vested portion of the amount allocated to the former Spouse will be paid to the former Spouse in a single payment on the first Payment Processing Date that is administratively practicable after (i) the Plan has determined that the order meets the requirements of subsection (b), (ii) the Plan has communicated its interpretation of the order to the Participant and former Spouse, and given them a reasonable amount of time (such as 30 days) to object to the Plan’s interpretation, (and if there is a timely objection, the parties must submit a revised order or withdraw their objections), and (iii) the parties agree to the Plan’s interpretation of the order.
Payout Provisions. (a) If EBITDA and Leverage Targets are met at different levels for the purpose of annual incentive calculation, the payout is the sum of the two individual payouts. Example: If annual results for EBITDA equals Target at $34.428M (30% Payout) and annual leverage result equals maximum payout level of 3.2 to 1 (60% Payout), the total payout will be 90% of Base Salary.
(b) All payouts will be in cash and shall be made in a lump sum within 90 days after the end of the term of the respective incentive plan.
(c) EBITDA will be calculated after the accrual of the expense for the incentive.
(d) EBITDA financial covenants under Agway Inc.'s principal credit agreements in effect at the time of each reporting period must be exceeded in order for a payout to be made under the EBITDA incentive calculation contained in this agreement.
Payout Provisions. (a) If EBT and currency targets are met at different levels, the payout is the sum of the two individual payouts. Example: If annual plan results for EBT equals Target at $24.5M (20% Payout) and currency 96.5% (10% Payout), the total payout will be 30% of Base Salary.
(b) All payouts will be in cash and paid from Telmark earnings. Payouts shall be made in a lump sum within 90 days after the end of the term of the respective incentive plan.
(c) EBT will be calculated after the accrual of the expense for the incentive.
Payout Provisions. Holiday leave hours must be used within the payroll year in which they were granted and may not be carried over into the following payroll year. Any unused holiday leave will be paid out at the end of the payroll year at the employee’s straight hourly rate of pay. In the event of a KPERS qualified disability, retirement, or death, any unused holiday leave hours will be paid out based at the employee’s regular rate of pay. However, any unused holiday bank hours will be forfeited upon termination of employment for any other reason (voluntary or involuntary).
Payout Provisions. (a) Incentives earned under this plan are taken into account for purposes of Agway's employee benefit plan programs to the extent provided by the terms of those programs in effect at the time payments are made.
(b) Payouts shall be made in a lump sum within 90 days after the end of the term of the respective incentive plan.
(c) EBITDA will be calculated after the accrual of the expense for the incentive.
(d) For purposes of these incentive plans, "base salary" means the employees annual salary before bonuses or other incentives.
Payout Provisions. (a) All payouts will be in cash and paid from Energy earnings. Payouts shall be made in a lump sum within 90 days after the end of the term of the respective incentive plan.
(b) EBITDA will be calculated after the accrual of the expense for the incentive.
(c) EBITDA financial covenants for Agway Energy under Agway Inc.'s principal credit agreements in effect at the time of each reporting period, both quarterly and annually, must be exceeded in order for a payout to be made under the annua incentive calculations contained in this agreement.
Payout Provisions. (a) Partial payouts for the annual incentive component may be made at the discretion of the Board of Directors at semi-annual periods or at the accomplishment of a specific strategy approved by the Board of Directors.
(b) All other payouts will be in cash and shall be made in a lump sum within 90 days after the end of the term of the respective incentive plan.
Payout Provisions. Year-End. Holiday leave must be used within the payroll year in which it was granted and may not be carried over into the following calendar year. Any unused holiday leave will be paid out at the end of the payroll year at the employee’s regular rate of pay.