MICP Payment definition

MICP Payment has the meaning set forth in Section 4.2.
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MICP Payment. You will receive your full (unprorated and unadjusted as a result of performance) MICP payment with respect to the fiscal year ending July 31, 2019 (“FY2019”) at the target percentage (55%) of your base salary in effect on your Retirement Date. Such MICP payment will be made in a lump sum two weeks after the Company’s receipt of the original signed General Release from you within the required time period and the expiration of the Rescission Period without rescission by you.
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Related to MICP Payment

  • AHYDO Catch-Up Payment means any payment on any Indebtedness that would be necessary to avoid such Indebtedness being characterized as an “applicable high yield discount obligation” under Section 163(i) of the Code.

  • Compensation Payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an insurer to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the insurer’s contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the insurer accepts liability for having caused the loss concerned, but excludes any –

  • Delta Payment means as it is described in this Agreement.

  • Capitation Payment means a payment the STATE makes periodically to the MCO for each Enrollee covered under the Contract for the provision of services as defined in Article 6 regardless of whether the Enrollee receives these services during the period covered by the payment.

  • Termination Payment means the amount payable by either Party to the other upon Termination in accordance with Article 23;