Merit Awards definition

Merit Awards means Common Stock Awarded pursuant to Section 11.
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Merit Awards. There shall be a Merit Award Fund of an amount set out in Article This sum shall be distributed to Employees on the basis of merit by the University of New Brunswick. Each award shall be paid as a lump sum and shall not become part of the recipient's salary. At the request of the recipient, an equivalent sum may be paid on a basis as a research grant for personal professional development. The disposition of the awards shall be published in University Perspectives following their approval by the Board of Governors. There shall be no grievances arising from the disposition of the merit awards insofar as the disposition is not in conflict with this Collective Agreement. Prior to making their nominations for merit awards, the Deans shall ask for suggestions from the academic departments and the libraries for which they are responsible. amount equal to the value of comparable experience at the University of New Brunswick. The University of New Brunswick shall provide the Association with an up to date table showing the value of experience for each rank and classification. An Employee's initial salary may only exceed the salary established according to Article by any amounts designated as a Market Differential Component and/or as a President's Discretionary Component when such an amount or amounts have been determined in accordance with the terms of this Collective Agreement. The offer of appointment letter shall state the amount of experience credited, the dollar amount specifically given for the experience subject to the provisions of the dollar amount specifically designated as a Market Differential Component (if any) and the dollar amount specifically designated as a President's Discretionary Component (if any). The Association shall be sent a copy of that offer of appointment letter within ten days of acceptance of that offer by the candidate. Salary offers shall be in terms of the salary scales in effect at the time the offer is made. If the appointment begins in a period beyond the stated duration of this Collective Agreement, the offer shall state that the salary is subject to the Economic Adjustment (EA) and, if applicable, any Progress Through the Ranks adjustment negotiated between the Association and the University of New Brunswick. In such cases, the offer may state a reasonable guaranteed minimum. The adjustment is applicable in all cases except when no experience credit is being granted for the Academic Year prior to the Academic Year in which the...
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Examples of Merit Awards in a sentence

  • Awards may only be granted to Participants and Outside Directors, provided that Outside Directors may not be granted ISOs, Incentive Awards, Performance Awards or Merit Awards.

  • Merit Awards will be made by June 1 and announced publicly in an appropriate forum such as Convocation and/or the Board of Trustees Meeting.

  • Under an Affiliation and Licence Agreement made between the SANFL and the SANFL Community Football, Merit Awards may be awarded annually by the SANFL to acknowledge outstanding service to the Game of Australian Football given by persons associated with Affiliated Leagues.

  • Applications for Merit Awards may cover work done in the immediately ending academic year and up to two years prior.

  • There will be reserved for issuance under this Plan an aggregate of 4,000,000 shares of Common Stock, par value $1.00 per share; provided, however, that of such shares only 1,000,000 shares in the aggregate shall be available for Restricted Stock Awards, Merit Awards, ISO Awards and Performance Unit Awards.

  • Under an Affiliation and Licence Agreement made between the SANFL and the SACFL, Merit Awards may be awarded annually by the SANFL to acknowledge outstanding service to the Game of Australian Football given by persons associated with Affiliated Leagues.

  • Notwithstanding anything contained in this Plan to the contrary, Dividend Equivalents with respect to Restricted Stock Unit Awards, Incentive Awards, Performance Unit Awards and Merit Awards that vest based on the achievement of Performance Goals shall be accumulated until such Award is earned, and the Dividend Equivalents shall not be paid if the Performance Goals are not satisfied.

  • There will be reserved for issuance under the Plan (upon the exercise of Options and Stock Appreciation Rights, upon awards of Restricted Stock, Performance Shares and Merit Awards and for stock bonuses on deferred awards of Restricted Stock and Performance Shares), an aggregate of 3,212,000 shares of Ashland Common Stock, par value $1.00 per share; provided, however, that of such shares, only 500,000 shares in the aggregate shall be available for issuance for Restricted Stock Awards and Merit Awards.

  • Options, Stock Appreciation Rights, Merit Awards and Performance Shares may not be granted to such Outside Directors under the Plan.

  • Accordingly, the Company may grant to selected officers and employees Options, Stock Appreciation Rights, Restricted Stock, Merit Awards and Performance Share Awards in an effort to attract and retain in its employ qualified individuals and to provide such individuals with incentives to continue service with Ashland, devote their best efforts to the Company and improve Ashland's economic performance, thus enhancing the value of the Company for the benefit of shareholders.

Related to Merit Awards

  • Stock Awards means all stock options, restricted stock and such other awards granted pursuant to the Company’s stock option and equity incentive award plans or agreements and any shares of stock issued upon exercise thereof.

  • Performance Awards means Performance Units, Performance Shares or either or both of them.

  • Awards means Options, RSUs and PSUs granted to a Participant pursuant to the terms of the Plan;

  • 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.

  • Other Stock Unit Award means any right granted to a Participant by the Committee pursuant to Section 10 hereof.

  • Performance Stock Award means a Stock Award granted under the terms and conditions of Section 6(c)(i).

  • Equity Awards will mean Executive’s outstanding stock options, stock appreciation rights, restricted stock units, performance shares, performance stock units and any other Company equity compensation awards.

  • Bonus Stock Award means an award of Bonus Stock under this Plan.

  • Other Stock-Based Awards means Awards granted to a Participant under Section 6(i) hereof.

  • Other Stock Award Agreement means a written agreement between the Company and a holder of an Other Stock Award evidencing the terms and conditions of an Other Stock Award grant. Each Other Stock Award Agreement will be subject to the terms and conditions of the Plan.

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

  • Service Awards means such funds as may be awarded by the Court to Plaintiffs to compensate them for their participation in the Action, as described in Section IV of this Agreement.

  • Phantom Stock Award means an Award granted under Paragraph X of the Plan.

  • Performance Compensation Award means any Award designated by the Committee as a Performance Compensation Award pursuant to Section 11 of the Plan.

  • 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.

  • Restricted Stock Unit Award Agreement means a written agreement between the Company and a holder of a Restricted Stock Unit Award evidencing the terms and conditions of a Restricted Stock Unit Award grant. Each Restricted Stock Unit Award Agreement will be subject to the terms and conditions of the Plan.

  • 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 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.

  • Director Award means the grant of any Award (other than an Incentive Stock Option), whether granted singly, in combination, or in tandem, to a Participant who is a Director pursuant to such applicable terms, conditions, and limitations established by the Board.

  • Restricted Stock Unit Award means a right to receive shares of Common Stock which is granted pursuant to the terms and conditions of Section 6(b).

  • Performance Stock means a Target Number of Shares granted pursuant to Section 10(a) of the Plan.

  • 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.

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

  • 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.

  • Bonus Stock means shares of Common Stock which are not subject to a Restriction Period or Performance Measures.