Incentives Pool definition

Incentives Pool means the pool of money held on trust and administered by the Incentives Pool Trustee, into which all Incentives Pool Debits are to be paid and out of which Incentives Pool Claims are to be paid.
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Examples of Incentives Pool in a sentence

  • The first stage is carried out by the Maui Commercial Operator and involves the allocation of cash out, and Incentives Pool charges in accordance with MPOC processes to Welded Points on the Maui Pipeline.

  • Since the service was provided at no charge, the operation of many of the MPOC mechanisms for allocating balancing gas costs, such as the Incentives Pool, were suspended.

  • And a Welded Party may make a claim on the Incentives Pool if it is unable to off-take its Scheduled Quantity because another Welded Party has incurred an Incentives Pool Debit.

  • Further, we consider Tariff 3 (b) does not reflect the whole picture as it gives no consideration to a single efficient balancing environment as envisaged by the rules (i.e. should the Balancing Agent appointed under the process of the rules carry out any of the Incentives Pool functions?).

  • Among other matters the COCR: • removes references to MDL; • provides that the new owner can carry out the Technical Operator, System Operator, Commercial Operator, Balancing Agent and Incentives Pool Trustee roles; and • adjusts the ring-fencing arrangements to be appropriate for the changed circumstances.

  • Some submitters consider that because the Incentives Pool transactions exclude transfer of title, productive efficiency would be affected.

  • In the period since 12 December 2008, it has been clearly demonstrated that the prospect of financial penalties through the operation of the Incentives Pool and cash outs following the issue of ILON notices has substantially altered behaviour by pipeline users.

  • These could include removal of tolerances for any party issued with an OFO and automatic cash out of imbalances at the Call price plus Incentive Fees.• Incentives Pool changes to supplement and match changes to the daily cash out regime proposed.

  • Balancing gas costs are currently recovered through two main mechanisms:• Incentives Pool charges for Call Balancing Gas on Days when the Balancing Agent has purchased gas.• Cash outs of positions in cases where the requirements of an ILON notice have not been met.• There is also income relating from the sale of Put gas.

  • MDL believes that if all Balancing Gas it uses is to be charged for, then under the current MPOC provisions a substantial portion of Balancing Gas costs will not be recovered through imbalance cash out, the operation of the Incentives Pool or Balancing Gas Put sales.

Related to Incentives Pool

  • Bonus Pool means the pool of funds available for distribution to Participants. Subject to the terms of the Plan, the Committee establishes the Bonus Pool for each Performance Period.

  • 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 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.

  • Incentive Compensation means any compensation that is granted, earned or vested based wholly or in part upon the attainment of a Financial Reporting Measure.

  • 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);

  • 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).

  • Incentives means those payments made by the Program Administrator to Customers pursuant to the Program and these Terms and Conditions.

  • 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.

  • Incentive Payment means the payment to a STGU, including an AOBC Generation Unit, for RPS class I Renewable Generation Attributes and/or Environmental Attributes produced by these units, calculated pursuant to Section 7.0 below.

  • Incentive Payments means any and all federal or state governmental subsidies, payments, transfers or other benefits, whether now or hereafter established, received by the Borrower in any fiscal year aged less than 120 days.

  • Incentive Distribution Rights has the meaning assigned to such term in the Partnership Agreement.

  • Incentive-Based Compensation means any compensation that is granted, earned or vested based wholly or in part upon the attainment of a Financial Reporting Measure.

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

  • Incentive Pay means an annual amount equal to the aggregate annual bonus, in addition to Base Pay, made or to be made in regard to services rendered in any calendar year or performance period pursuant to any bonus plan of the Company.

  • Incentive Distribution Right means a Limited Partner Interest having the rights and obligations specified with respect to Incentive Distribution Rights in this Agreement (and no other rights otherwise available to or other obligations of a holder of a Partnership Interest).

  • Stock Incentives means, collectively, Dividend Equivalent Rights, Incentive Stock Options, Non-Qualified Stock Options, Performance Unit Awards, Phantom Shares, Stock Appreciation Rights and Stock Awards.

  • Performance Percentage means the factor determined pursuant to a Performance Schedule that is to be applied to a Target Award and that reflects actual performance compared to the Performance Target.

  • Incentive means a term or condition whose purpose is to motivate the Contractor to provide supplies or services at lower costs, and in certain instances with improved delivery or technical performance, by relating the amount of profit or fee earned to the Contractor’s performance.

  • 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.

  • incentive plan award means compensation awarded, earned, paid, or payable under an incentive plan;

  • Other Stock or Cash Based Awards means cash awards, awards of Shares, and other awards valued wholly or partially by referring to, or are otherwise based on, Shares or other property.

  • Incentive Compensation Plans means annual incentive compensation plans and long‑term incentive compensation plans of the Company, which long‑term incentive compensation plans may include plans offering stock options, restricted stock and other long‑term incentive compensation.

  • 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.

  • Other Stock or Cash Based Award means a cash payment, cash bonus award, stock payment, stock bonus award, performance award or incentive award that is paid in cash, Shares or a combination of both, awarded under Section 9.1, which may include, without limitation, deferred stock, deferred stock units, performance awards, retainers, committee fees, and meeting-based fees.