Performance Shares and Cash Incentive Payments Sample Clauses

Performance Shares and Cash Incentive Payments. Xx. Xxxxxx has four Performance Awards as specifically stated below. These awards were granted under ATK’s 2005 Stock Incentive Plan, as amended, or ATK’s Executive Officer Incentive Plan, and the awards are subject to the terms of the applicable plan, award agreements and ATK’s compensation system. Nothing in this Agreement creates any additional rights with respect to these awards. Xx. Xxxxxx understands that he will remain eligible to receive a prorated number of the performance shares and a prorated cash incentive payment earned (if any) based on the portion of the performance period during which Xx. Xxxxxx remains employed with ATK through the Termination Date. Specifically: (i) For the Performance Award Agreement for the ATK fiscal years 2008 through 2010 (April 1, 2007 — March 31, 2010), there will be no proration. (ii) For the Performance Award Agreement for the ATK fiscal years 2009 through 2011 (April 1, 2008 — March 31, 2011), the proration is two-thirds of shares and cash. (iii) For the Performance Growth Award Agreement for the ATK fiscal years 2010 through 2012 (April 1, 2009 — March 31, 2012), the proration is one-third of shares and cash. (iv) For the Relative Stockholder Return Performance Award Agreement for the ATK fiscal years 2010 through 2012 (April 1, 2009 — March 31, 2012), the proration is one-third of shares. ATK expects to make payment of these awards within 2½ months following the completion of the respective performance periods. The number of shares delivered and the amount of any cash payout depends on whether and to what extent (if any) ATK meets the objectives set forth pursuant to the respective Performance Award Agreements and terms of the applicable plan. All payments will be taxed in accordance with the federal and state tax laws that apply and ATK practice and will be subject to the terms of the applicable Performance Award Agreement and the related plan.
Sample 1
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Performance Shares and Cash Incentive Payments. Xx. Xxxxxxxxx has three Performance Award Agreements. In accordance with these Performance Award Agreements, Xx. Xxxxxxxxx will receive a prorated number of performance shares and a prorated cash incentive payment, as applicable, based on the amount of active service time during the applicable fiscal year. Specifically, assuming the last day of employment of March 31, 2009: (i) For the Performance Award Agreement dated April 1, 2006, for the fiscal year 2007-2009 performance period, the award will be the total earned amount. (ii) For the Performance Award Agreement dated March 12, 2007 for the fiscal year 2008 – 2010 performance period, the award will be prorated 24/36 of total earned amount. (iii) For the Performance Award Agreement dated March 10, 2008 for the fiscal year 2009 – 2011 performance period, the award will be prorated 12/36 of total earned amount. ATK expects to make payment of each award following the completion of the applicable performance period which ATK currently expects to be in May after each of those periods; but in no event will the payment be later than the last day in the calendar year in which the performance period ends. The number of shares delivered and the amount of any cash payment depend on whether and to what extent ATK meets the objectives that were established when the performance awards were granted. All payments will be taxed in accordance with the federal and state tax laws that apply and ATK practice and will be subject to the terms of the applicable Performance Award Agreements.
Sample 1

Related to Performance Shares and Cash Incentive Payments

  • Cash Incentive Bonus The pro rata share of any Cash Incentive Bonus that would have been paid to the Executive had the Executive not been terminated Without Cause based on the extent to which performance standards are met on the last day of the year in which the Executive is terminated Without Cause.

  • Performance Pay In accordance with Section 8 of the General Appropriations Act for Fiscal Year 2020-2021, contingent upon the availability of funds and at the Agency Head’s discretion, each agency is authorized to grant merit pay increases based on the employee’s exemplary performance, as evidenced by a performance evaluation conducted pursuant to Rule 60L-35, Florida Administrative Code.

  • Incentive Payment 11.3.1 An employer may offer and an employee may accept an early retirement incentive based on the age at retirement to be paid in the following amounts Age at Retirement % of Annual Salary at Time of Retirement 11.3.2 An employer may opt to pay the early retirement incentive in three equal annual payments over a thirty-six (36) month period. 11.3.3 Eligible bargaining unit members may opt for a partial early retirement with a pro- rated incentive.

  • Performance Share Units The Committee may, in its discretion, grant to Executive performance share units subject to performance vesting conditions (collectively, the “Performance Units”), which shall be subject to restrictions on their sale as set forth in the Plan and an associated Performance Unit Grant Letter.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

  • Performance Units Subject to the limitations set forth in paragraph (c) hereof, the Committee may in its discretion grant Performance Units to any Eligible Person and shall evidence such grant in an Award Agreement that is delivered to the Participant which sets forth the terms and conditions of the Award.

  • Incentive Pay (1) For any calendar year: in which twenty-five percent (25%) of the number of members employed as of January 1 of each year are rated as either Level II or Level III in every phase of the PFT then (a) Members who are rated at Level II in all phases of the PFT will receive three hundred dollars ($300.00) in a one-time lump sum payment. (b) Members who are rated at Level III in all phases of the PFT will receive six hundred dollars ($600.00) in a one-time lump sum payment. (2) For any calendar year in which fifty percent (50%) of the number of members employed as of January 1 of each year are rated as either Level II or Level III in every phase of the PFT then: (a) Members who are rated at Level II in all phases of the PFT will receive six hundred dollars ($600.00) in a one-time lump sum payment. (b) Members who are rated at Level III in all phases of the PFT will receive nine hundred dollars ($900.00) in a one-time lump sum payment. (3) All lump sum payments referenced herein will be paid in February of the following year.

  • Incentive Payments The Settlement Fund Administrator will treat incentive payments under Section IV.F on a State-specific basis. Incentive payments for which a Settling State is eligible under Section IV.F will be allocated fifteen percent (15%) to its State Fund, seventy percent (70%) to its Abatement Accounts Fund, and fifteen percent (15%) to its Subdivision Fund. Amounts may be reallocated and will be distributed as provided in Section V.D.

  • Performance Shares Each Performance Share is a bookkeeping entry that records the equivalent of one Share. Upon the vesting of the Performance Shares as provided in Section 2, the vested Performance Shares will be settled as provided in Section 3.

  • Annual Incentive Awards The Executive shall participate in the Company's annual incentive compensation plan with a target annual incentive award opportunity of no less than 40% of Base Salary and a maximum annual incentive award opportunity of 80% of Base Salary. Payment of annual incentive awards shall be made at the same time that other senior-level executives receive their incentive awards.

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