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 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.

  • 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 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.

  • 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.

  • 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.

  • 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.

  • Payments under this Agreement will be made by Employer, unless Manager has transferred to a position with a subsidiary of the Company prior to the payment date, in which case the Award Payable will be prorated among the employers of the Manager during the Performance Period on the basis of months worked for each affected employer.

  • 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 or a bottling subsidiary of the Company, 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.

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.