PSP a legally licensed payment service provider such as a bank, other credit institution, electronic money or payment institution, etc.
PSP. In the PSP at an opportunity equal to 150% of Base Salary if targets are reached at 100%, or such greater percentage if provided in the PSP for any measurement period.
PSP. 4.2 Awards granted under the PSP will vest and become exercisable, conditionally on the Effective Date, to the extent determined by the Consort Remuneration Committee in accordance with the terms of the PSP, with any options remaining exercisable from the date of the Offer for a period of one calendar month following the Effective Date. Any holding period will not apply in the circumstances of vesting and exercise of PSP awards in connection with the Offer.
PSP. 5. The Bidders acknowledge that the extent to which Awards outstanding under the PSP vest on the date of the Scheme Order in connection with the Transaction is to be determined solely by the Target Remuneration Committee, in accordance with the rules of the PSP but subject always to paragraph 21.
PSP. PSP," when immediately preceded by "Southern," means the Southern Performance Sharing Plan, a defined contribution plan. When immediately preceded by "Southern Energy," "PSP" means the performance sharing plan, if any, to be established by Southern Energy pursuant to Sections 2.02 and 4.03 that corresponds to the Southern Performance Sharing Plan.
PSP. Effective as of the Distribution Date, Southern Energy may, at its discretion, establish, or cause to be established, a trust, which is intended to be qualified under Code Section 401(a), exempt from taxation under Code Section 501(a)(1), and forming the Southern Energy PSP. Such Southern Energy PSP, if established, shall be comparable to the Southern PSP. Upon the mutual agreement of Southern and Southern Energy, the Southern Energy PSP shall accept asset transfers from the Southern PSP. Notwithstanding the foregoing, it is Southern Energy's intent that no action will cause a Southern Energy employee to lose his or her unvested right to an account balance in the Southern PSP.
PSP. 5. Bidco acknowledges that the extent to which Awards outstanding under the PSP vest or become exercisable (as applicable) at the date of the Scheme Order in connection with the Transaction is to be determined solely by, in the case of Awards granted to executive directors of Merlin, the Merlin Remuneration Committee, and in other cases, any committee or body authorised to operate the PSP, in accordance with the rules of the PSP.
PSP. 7. The Bidder acknowledges that, if Awards outstanding under the PSP vest in the ordinary course of business before the Court Sanction Date, the extent to which such Awards vest is to be determined by the Target Remuneration Committee in a manner consistent with normal practice and in accordance with the rules of the PSP and, where applicable, the Target Remuneration Policy.
PSP. 8. Bidco acknowledges that any outstanding Options under the PSP that are unvested on the Court Sanction Date will vest and become exercisable on the Court Sanction Date in accordance with the rules of the PSP.
PSP. 8. Eagle acknowledges that all outstanding Options under the PSP that are unvested on the Court Sanction Date will vest and become exercisable to the extent determined below on the Court Sanction Date in accordance with the rules of the PSP.
