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).
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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.
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Examples of Formula Award in a sentence

  • General Facilities Adjustment Factors apply for all other locations.Award Criteria Figure Formula Award Criteria Figure Formula percentages are for Bid purposes only.

  • 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.

  • Amounts funded in the Formula Award Account will be used to purchase shares of Allied Capital Corporation common stock in the open market, as directed by the Administrator.

  • The Formula Award Account may only be invested in the common stock of Allied Capital Corporation until such time as a distributable event (as listed in section 5.2) occurs.

  • For each Participant, the Administrator shall establish and maintain a separate record-keeping account which contains both the vested and unvested balances of a Participant's Formula Award.

  • Unless otherwise set forth in the applicable Award agreement, in the event of a "Change in Control" as defined in Section 8.2 of the Plan, all amounts in all Participant Accounts including the Formula Award Account, will be 100% vested and will be immediately distributed to the Participants.

  • Descriptions for the categories can be found above in the MIECHV Formula Award budget.

  • IMSA will not accept responsibility for any delays or charges incurred at any receiving bank or clearing system.

  • WHEREAS, the Parties have previously agreed that Plano Police Department would serve as Fiscal Agent for the Edward Byrne Memorial Justice Assistance Grant Formula Award, (hereafter the “JAG Award”); and WHEREAS, this Agreement is made under the authority of Public Law 109-162 (Jan 5, 2006) Title XI—Department of Justice Reauthorization, Subtitle B—Improving the Department of Justice's Grant Programs, Chapter 1—Assisting Law Enforcement and Criminal Justice Agencies, Sec.


More Definitions of Formula Award

Formula Award means an issuance of Restricted Stock to members of the Committee pursuant to section 6(j) hereof;
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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.
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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
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Formula Award means that portion of the Award Pool payable to a Participant as determined pursuant to Section 6.
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Related to Formula Award

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

  • 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.

  • Restricted Award means any Award granted pursuant to Section 7.2(a).

  • Cash Award means an award denominated in cash.

  • Appreciation Award means any Award under this Plan of any Stock Option, Stock Appreciation Right or Other Stock-Based Award, provided that such Other Stock-Based Award is based on the appreciation in value of a share of Common Stock in excess of an amount equal to at least the Fair Market Value of the Common Stock on the date such Other Stock-Based Award is granted.

  • Maximum Award means as to any Participant for any Performance Period, $4 million.

  • Performance Unit Award means an Award granted under Article XI of the Plan under which, upon the satisfaction of predetermined Performance Goals, a cash payment shall be made to the Holder, based on the number of Units awarded to the Holder.

  • Performance Award Agreement means a written agreement between the Company and a Holder with respect to a Performance Award.

  • 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.

  • Performance Shares means Shares or an Award denominated in Shares which may be earned in whole or in part upon attainment of performance criteria established by the Administrator.

  • 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.

  • Cash-Based Award means an Award entitling the recipient to receive a cash-denominated payment.

  • Award Opportunity means a cash award opportunity established under the Plan for a Participant by the Committee pursuant to such terms, conditions, restrictions and/or limitations, if any, as the Committee may establish.

  • 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.

  • 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 Stock Unit means a right granted to a Participant pursuant to Section 8.2, to receive Stock, the payment of which is contingent upon achieving certain Performance Goals or other performance-based targets established by the Committee.

  • Other Equity-Based Award means an Award that is not an Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, or Performance Share Award that is granted under Section 10 and is payable by delivery of Common Stock and/or which is measured by reference to the value of Common Stock.

  • Service Award means any Court ordered payment to Plaintiff for serving as Class Representative, which is in addition to any payment due to Plaintiff as a Settlement Class Member.

  • Section 162(m) Award means a Performance Award granted under Section 6(k)(i) to a Covered Employee that is intended to satisfy the requirements for “performance-based compensation” within the meaning of Section 162(m).

  • 409A Award means an Award that constitutes a “deferral of compensation” within the meaning of the 409A Regulations, whether by design, due to a subsequent modification in the terms and conditions of such Award or as a result of a change in applicable law following the date of grant of such Award, and that is not exempt from Section 409A of the Code pursuant to an applicable exemption.

  • 3(i) Award means an Award granted pursuant to Section 3(i) of the Ordinance to any person who is a Non-Employee.

  • Performance Units means an Award which may be earned in whole or in part upon attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator.

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

  • Phantom Stock Award Agreement means a written agreement between the Company and a Holder with respect to a Phantom Stock Award.

  • Stock Unit Award means a right to receive shares of Common Stock which is granted pursuant to the terms and conditions of Section 7(c).

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