Award Payable definition

Award Payable will be calculated by multiplying the Award by the percentage determined by the following formula (the "Award Formula"): Percentage = Lesser of y or z, where y = 150% and z = Actual Cash Flow - Threshold Cash Flow x 100% + 50% -------------------------------------- $40,000,000
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Examples of Award Payable in a sentence

  • If Manager's death occurs prior to the end of the Performance Period, the Board of Directors may waive the "continuous employment" requirement and prorate the Award Payable based on the ratio of the number of months within the Performance Period in which the Manager was actively employed to the 36 months within the Performance Period, and the payment date of such partial Award Payable may be accelerated in the sole discretion of the Board of Directors of the Company.

  • If, during the term of this Agreement, the majority ownership of the stock of the Company and/or the Manager's employer changes, this Agreement shall terminate, and Manager will receive all or any remaining portion of an Award Payable from the Company, on or before December 31 of the year in which such change of ownership is consummated.

  • If Manager's resignation due to retirement occurs prior to the end of the Performance Period, the Board of Directors may waive the "continuous employment" requirement and prorate the Award Payable based on the ratio of the number of months within the Performance Period in which Manager was actively employed to the 36 months in the Performance Period.

  • The Administrator shall then determine the actual size of each Covered Employee’s Performance-Based Award.(d)Maximum Award Payable.

  • The TWX Equity Award Payable shall be treated as a Qualified Intercompany Account, as set forth in Schedule IV of the Separation Agreement.

  • If Manager's resignation due to disability occurs prior to the end of the Performance Period, the Board of Directors may waive the "continuous employment" requirement and prorate the Award Payable based on the ratio of the number of months within the Performance Period in which Manager was actively employed to the 36 months in the Performance Period, and the payment date of such partial Award Payable may be accelerated in the sole discretion of the Board of Directors of the Company.

  • If Manager qualifies to receive a cash award pursuant to this Agreement, two-thirds of the Award Payable (defined in Section 2(c) below) will be paid to Manager on March 1, 2000, and one-third of the Award Payable will be paid to Manager on March 1, 2002.

  • If the Change of Ownership occurs during the Performance Period, the Award Payable will be determined using an amended Cash Flow Threshold which proportionally adjusts the factors to be utilized in calculating the Award Payable.

  • This Agreement shall terminate immediately upon the occurrence of the first of the following events: a) payment of the entire Award Payable; b) voluntary resignation of the Manager; c) termination of Manager's employment with the Company, the Employer or Coca-Cola Bottling Company of the Southwest, for any reason other than death, disability or retirement (as defined in Paragraphs 5 and 6 above); or Change of Majority Ownership of the Company or Manager's employer.

  • The Administrator shall then determine the actual size of each Covered Employee’s Performance-Based Award, and, in doing so, may reduce or eliminate the amount of the Performance-Based Award for a Covered Employee if, in its sole judgment, such reduction or elimination is appropriate.(d)Maximum Award Payable.

Related to Award Payable

  • Long-Term Performance Award means an award under Section 10 below. A Long-Term Performance Award shall permit the recipient to receive a cash or stock bonus (as determined by the Committee) upon satisfaction of such performance factors as are set out in the recipient's individual grant. Long-Term Performance Awards will be based upon the achievement of Company, Subsidiary and/or individual performance factors or upon such other criteria as the Committee may deem appropriate.

  • Performance Compensation Award means any Award designated by the Committee as a Performance Compensation Award pursuant to Section 11 of the Plan.

  • Clawback Eligible Incentive Compensation means all Incentive-based Compensation Received by an Executive Officer (i) on or after the effective date of the applicable Nasdaq rules, (ii) after beginning service as an Executive Officer, (iii) who served as an Executive Officer at any time during the applicable performance period relating to any Incentive-based Compensation (whether or not such Executive Officer is serving at the time the Erroneously Awarded Compensation is required to be repaid to the Company), (iv) while the Company has a class of securities listed on a national securities exchange or a national securities association, and (v) during the applicable Clawback Period (as defined below).

  • Cash Performance Award means an Award that is denominated by a cash amount to an Eligible Person under Section 10 hereof and payable based on or conditioned upon the attainment of pre-established business and/or individual Performance Goals over a specified performance period.

  • Long-Term Incentive Award means an Award described in Section 6(g) hereof that is based upon a period in excess of one year.

  • Cash Incentive Award means a cash award granted pursuant to Section 8 of this Plan.

  • Award Value means the value, in dollars, of an award made to a Participant and as stated in the applicable Award Agreement, which is provided under the Plan in the form of PSUs or RSUs, as the case may be.

  • Cash Award means an award denominated in cash.

  • Performance Grant means an Award subject, in part, to the terms, conditions and restrictions described in Section 9, pursuant to which the recipient may become entitled to receive cash, Class A Shares, Other Real Goods Securities or property, or other forms of payment, or any combination thereof, as determined by the Committee.

  • Performance Awards means Performance Units, Performance Shares or either or both of them.

  • Incentive Bonus means a bonus opportunity awarded under Section 9 pursuant to which a Participant may become entitled to receive an amount based on satisfaction of such performance criteria as are specified in the Award Agreement.

  • Incentive Award means the right to receive a cash payment to the extent Performance Goals are achieved, and shall include “Annual Incentive Awards” as described in Section 10 and “Long-Term Incentive Awards” as described in Section 11.

  • Average Incentive Compensation means the average of the annual incentive compensation under Subparagraph 3(a) received by Executive for the three (3) immediately preceding fiscal years or such fewer number of complete fiscal years as Executive may have been employed by the Company. In no event shall “Average Incentive Compensation” include any sign-on bonus, retention bonus or any other special bonus. Notwithstanding the foregoing, if the Executive breaches any of the provisions contained in Paragraphs 4 and 5 of this Agreement, all payments of the Severance Amount shall immediately cease. Notwithstanding the foregoing, in the event Executive terminates his employment for Good Reason as provided in Subparagraph 6(e), he shall be entitled to the Severance Amount only if he provides the Notice of Termination provided for in Subparagraph 6(f) within thirty (30) days after the occurrence of the event or events which constitute such Good Reason as specified in clauses (A), (B), (C), (D), (E) and (F) of Subparagraph 6(e);

  • Performance Cash Award means an award of cash granted pursuant to the terms and conditions of Section 6(c)(ii).

  • Recoverable Incentive Compensation means Incentive Compensation received by a Covered Officer during the Lookback Period that exceeds the amount of Incentive Compensation that would have been received had such amount been determined based on the Accounting Restatement, computed without regard to any taxes paid (i.e., on a gross basis without regard to tax withholdings and other deductions). For any compensation plans or programs that take into account Incentive Compensation, the amount of Recoverable Incentive Compensation for purposes of this Policy shall include, without limitation, the amount contributed to any notional account based on Recoverable Incentive Compensation and any earnings to date on that notional amount. For any Incentive Compensation that is based on stock price or TSR, where the Recoverable Incentive Compensation is not subject to mathematical recalculation directly from the information in an Accounting Restatement, the Administrator will determine the amount of Recoverable Incentive Compensation based on a reasonable estimate of the effect of the Accounting Restatement on the stock price or TSR upon which the Incentive Compensation was received. The Company shall maintain documentation of the determination of that reasonable estimate and provide such documentation to the Exchange in accordance with the Listing Standards.

  • Bonus Award means a bonus award made pursuant to Section 9.

  • Deferred Compensation Award means an award of Stock Units granted to a Participant pursuant to Section 11 of the Plan.

  • Incentive Compensation Awards means awards granted under Incentive Compensation Plans providing the Executive with the opportunity to earn, on a year‑by‑year basis, annual and long‑term incentive compensation.

  • Performance Stock Award means a Stock Award granted under the terms and conditions of Section 6(c)(i).

  • Full Value Award means an Award other than in the form of an ISO, NQSO, or SAR, and which is settled by the issuance of Shares.

  • Performance Award Formula means, for any Performance Award, a formula or table established by the Committee pursuant to Section 10.3 which provides the basis for computing the value of a Performance Award at one or more levels of attainment of the applicable Performance Goal(s) measured as of the end of the applicable Performance Period.

  • Deferred Stock Unit means a right granted to a Participant under Article 9 to receive Shares (or the equivalent value in cash or other property if the Committee so provides) at a future time as determined by the Committee, or as determined by the Participant within guidelines established by the Committee in the case of voluntary deferral elections.

  • Performance Bonus means the performance bonus in respect of each Class payable to the General Partner by the Partnership which will be equal to 20% of the product of: (a) the number of Units of that Class outstanding on the Performance Bonus Date; and (b) the amount by which the Net Asset Value per Unit of that Class on the Performance Bonus Date (prior to giving effect to the Performance Bonus) plus the aggregate value of all distributions per Unit of that Class during the Performance Bonus Term exceeds $25.00.

  • Performance Award means any right granted under Section 6(d) of the Plan.

  • Performance Cash means any cash incentives granted pursuant to Article 9 payable to the Participant upon the achievement of such performance goals as the Committee shall establish.

  • Deferred Stock Award means Awards granted pursuant to Section 8.