Common use of Performance Pay Program Clause in Contracts

Performance Pay Program. The provisions of this Section 2.2(e) shall apply to the Performance Pay Program under the Omnibus Plan, the defined terms of which are incorporated in this Section 2.2(e) by reference. Provided Xx. Xxxxxxx is not entitled to a Cash-Based Award under the PPP, if the PPP is in place as of Xx. Xxxxxxx’x Separation Date and to the extent Xx. Xxxxxxx is entitled to participate therein, Xx. Xxxxxxx shall be entitled to receive cash in an amount equal to a prorated payout of his Cash-Based Award under the PPP for the performance period in which the Separation Date shall have occurred, at target performance under the PPP and prorated by the number of months which have passed since the beginning of the performance period until the Separation Date.

Appears in 3 contracts

Samples: Change in Control Agreement (Southern Power Co), Change in Control Agreement (Southern Power Co), Change in Control Agreement (Southern Power Co)

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Performance Pay Program. The provisions of this Section 2.2(e) shall apply to the Performance Pay Program under the Omnibus Plan, the defined terms of which are incorporated in this Section 2.2(e) by reference. Provided Xx. Xxxxxxx Xxxxxxxxx is not entitled to a Cash-Based Award under the PPP, if the PPP is in place as of Xx. Xxxxxxx’x Xxxxxxxxx’x Separation Date and to the extent Xx. Xxxxxxx Xxxxxxxxx is entitled to participate therein, Xx. Xxxxxxx Xxxxxxxxx shall be entitled to receive cash in an amount equal to a prorated payout of his Cash-Based Award under the PPP for the performance period in which the Separation Date shall have occurred, at target performance under the PPP and prorated by the number of months which have passed since the beginning of the performance period until the Separation Date.

Appears in 1 contract

Samples: Change in Control Agreement (Southern Power Co)

Performance Pay Program. The provisions of this Section 2.2(e) shall apply to the Performance Pay Program under the Omnibus Plan, the defined terms of which are incorporated in this Section 2.2(e) by reference. Provided Xx. Xxxxxxx Xxxxxx is not entitled to a Cash-Based Award under the PPP, if the PPP is in place as of Xx. Xxxxxxx’x Xxxxxx’ Separation Date and to the extent Xx. Xxxxxxx Xxxxxx is entitled to participate therein, Xx. Xxxxxxx Xxxxxx shall be entitled to receive cash in an amount equal to a prorated payout of his Cash-Based Award under the PPP for the performance period in which the Separation Date shall have occurred, at target performance under the PPP and prorated by the number of months which have passed since the beginning of the performance period until the Separation Date.

Appears in 1 contract

Samples: Change in Control Agreement (Southern Power Co)

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Performance Pay Program. The provisions of this Section 2.2(e) shall apply to the Performance Pay Program under the Omnibus Plan, the defined terms of which are incorporated in this Section 2.2(e) by reference. Provided Xx. Xxxxxxx Mr. Garrett is not entitled to a Cash-Based Award under the PPPthx XXX, if the xx xhe PPP is in place as of Xx. Xxxxxxx’x Mr. Garrett's Separation Date and to the extent Xx. Xxxxxxx is entitled Mr. Garretx xx xxxxxxxd to participate therein, Xx. Xxxxxxx shall Mr. Gaxxxxx xxxxl be entitled to receive cash in an amount equal to a exxxx xx x prorated payout of his Cash-Based Award under the PPP for the performance period in which the Separation Date shall have occurred, at target performance under the PPP and prorated by the number of months which have passed since the beginning of the performance period until the Separation Date.

Appears in 1 contract

Samples: Change in Control Agreement (Southern Co)

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