Formula Award definition

Formula Award means an Award granted to non-employee directors under Section 8.

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Formula Award means the formula bonus award provided by the Employer in conjunction with the merger of the Allied Capital Companies effective December, 31, 1997 to compensate employees and consultants from the point when the unvested options in the Allied Capital stock option plans would cease to appreciate in value (the merger announcement date), until the time in which they would be able to receive option awards in Allied Capital Corporation (after the merger becomes effective).

Formula Award means an issuance of Restricted Stock to members of the Committee pursuant to section 6(j) hereof;

Examples of Formula Award in a sentence

To the extent a vesting period is required under the relevant plans and programs, a Change In Control will result in immediate vesting of any Formula Award, Cut Off Award, or Retention Award and all such awards will be paid within thirty (30) days after your Termination Date.
With respect to the Formula Award, Cut Off Award and awards of stock under the Stock Option Plan, the Continuation Period shall not be counted as employment for vesting purposes.
At the Effective Time, Target's 1997 Stock Incentive Plan, 1999 Employee Formula Award Stock Option Plan, and the Stock Option Agreements dated May 4, 2001 (collectively, the "Target Stock Option Plans") and all options to purchase Target Common Stock then outstanding under the Target Stock Option Plans shall be automatically assumed by Acquiror in accordance with, and subject to the terms and conditions of, Section 5.12.
Because this is a Formula Award with ARPA support, CWIP is complying with this directive by incorporating two equity factors in the calculation of the awards.

More Definitions of Formula Award

Formula Award means the award, earned in the form of Performance Units, by a Participant under this Plan, and based on actual three-year results against performance goals established for the Performance Period.

Formula Award means that portion of the Award Pool payable to a Participant as determined pursuant to Section 6.

Formula Award means, for the Chief Executive Officer, (A) for the 1999 Plan Year, the sum of (i) 1.95% of Pre-Bonus, Pre-Tax Net Operating Income in excess of the amount that represents a 19% return on average equity capital and (ii) 7% of the increase (or decrease) in Pre-Tax, After Bonus Net Operating Income, (B) for the 2000 Plan Year, the sum of (i) 1.80% of Pre-Bonus, Pre-Tax Net Operating Income in excess of the amount that represents a 20% return on average equity capital and (ii) 7% of the increase (or decrease) in Pre-Tax, After Bonus Net Operating Income, and (C) for the 2001 Plan Year, the sum of (i) 1.65 of the Pre-Bonus, Pre-Tax Net Operating Income in excess of the amount that represents a 21% return on average equity capital and (ii) 7% of the increase (or decrease) in Pre-Tax, After Bonus Net Operating Income. The Formula Award for the next most senior Officer-Director after the Chief Executive Officer for each Plan Year shall be 85% of Chief Executive Officer's Formula Award. The Formula Award for any other Officer-Director for each Plan Year shall be 75% of the Chief Executive Officer's Formula Award. The Formula Award for each Plan Participant other than any Officer-Director for each Plan Year shall be 60% of the Chief Executive Officer's Formula Award.

Formula Award means, for the Chief Executive Officer, for any Plan Year, the sum of (i) 2% of Pre-Bonus, Pre-Tax Net Operating Income for such Plan Year in excess of the amount that represents a 20% return on average equity capital for such Plan Year, plus (or minus) (ii) 8.5% of the increase (or decrease) in After-Bonus, Pre-Tax Net Operating Income for such Plan Year