Individual Entitlement definition
Individual Entitlement. In relation to an Eligible Employee means (subject to the proviso hereinafter contained) an equal share of the amount made available for the purposes of the Scheme for the relevant year. Provided always that notwithstanding the amount determined in accordance with the above, Individual Share Allocation shall not in any case exceed the amount specified in paragraph 1(4) of Part I of the Third Schedule to the Act.
Individual Entitlement means in relation to an Eligible Employee means a share of the amount made available for the purposes of the Scheme for the relevant year which amount shall be distributed by the Company amongst the Eligible Employees in proportion to their annual Basic Salary.
Examples of Individual Entitlement in a sentence
Each Under-Compensated Class Member or Additional Class Member who has a claim to the Residue will be entitled to receive compensation by Interac e-Transfer, with the compensation being the lesser of: (a) the total of their outstanding Individual Entitlement; or (b) the amount calculated by taking their Individual Entitlement, dividing by all Residue claims and multiplying that fraction by the amount of the Residue, so long as the amount to which they are entitled exceeds $10.00.