Payment of Award definition

Payment of Award. With respect to the Performance Period, the Committee shall certify the level of achievement of the Performance Objective set forth in Section 4 and determine the amount payable with respect to your Award based on such level of achievement. Payment of the Award shall be made to the Participant in cash in a single lump sum on the Normal Vesting Date determined by multiplying the applicable percentage for the level of performance certified by the Compensation Committee times the Participant’s Target Performance-Based Cash Award.
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Payment of Award. With respect to the Performance Period, the Committee shall certify the level of achievement of the Performance Objective set forth in Section 4 and determine the amount payable with respect to your Award based on such level of achievement. Payment of the Award shall be made to the Participant on the Normal Vesting Date in the form of a number of Company common shares determined by multiplying the applicable percentage for the level of performance certified by the Compensation Committee times the Participant’s total number of RXX Award Shares. Any RXX Award Shares that do not vest as of the Normal Vesting Date will be forfeited.
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Payment of Award. The vested portion of a Participant’s Deferred Cash Award shall be paid to the Participant in cash on the Payment Date following each applicable Vesting Date, subject to all U.S. federal, state, local, and other taxes required by law to be withheld with respect to such payments.
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Examples of Payment of Award in a sentence

  • When an insurer receives a request for a lump sum payment from the worker or the worker’s attorney, the insurer must send Form 1174, "Application for Approval of Lump-sum Payment of Award," to the requestor within 10 business days.(3) Reopening of claims.For the purpose of this rule, each opening of the claim is considered a separate claim and any subsequent permanent partial disability award from a claim reopening is a new and separate award.

  • B-14 8.5 Limitation on Right to Payment of Award............................

  • Payment of Award Payment will be made as soon as practicable following the end of the Measurement Period, and in any event, no later than 2 ½ months after the end of the Measurement Period.

  • The Performance Period under this Award Agreement is a three-year performance period that runs from January 1, 2011, until December 31, 2013.1.3 Payment of Award.

  • Payment of Award Pursuant to the terms of the arbitration agreement, the Plan Trust will promptly send to the claimant the appropriate Release.

  • Claims for Payment of Award Entitlements Ins cl P46/89 21/12/89 70 WAIG 338 19B.

  • Payment of Award, The fair market value of the unit immediately prior to the taking shall be paid to the owner of the unit and to each mortgagee of the unit, the remittance being made payable jointly to the owner and mortgagee(s).

  • When an insurer receives a request for a lump sum payment from the worker or the worker’s attorney, the insurer must send Form 1174, "Application for Approval of Lump-sum Payment of Award," to the requestor within 10 business days.

  • Payment of Award A vested Payment will be paid to you as soon as practicable, but in any event within 60 days, after vesting.

  • Payment of Award and eligible expenditure The Funder shall pay to the Recipient the Award set out in Schedule 2, for the eligible expenditure specified in Schedule 4 and in the instalments and on the pre-conditions set out, in Schedule 3.


More Definitions of Payment of Award

Payment of Award. Any bonus will be paid in February 2003, less applicable taxes.
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Payment of Award. ECP Awards are paid / exercisable following the ECP Vesting Date (as defined in Section 3 of the ECP Terms and Conditions). Any RSUs are settled within 60 days of the Vesting Date. Participant Election(s): ECP Award Type Percentage of ECP Award ECP Award Value USD ECP Award Amount PRSU [] % $[] Matched PRSU: [] PRSU is assigned an adjustment factor of []% SSAR SSARs: 0 Number of SSARs granted is based on 5 times the elected SSAR award value divided by the Fair Market Value* of a Share on the Grant Date. RSU [] % $[] RSUs: [] These ECP Terms and Conditions, including the relevant addendum, are a part of each International Flavors & Fragrances Inc. (the "Company") ECP Award Agreement made under the Plan, which is hereby incorporated by reference. Capitalized terms not defined herein shall have the meanings ascribed to them in the Plan. In the event of any conflict between the provisions of these ECP Terms and Conditions and the Plan, the provisions of the Plan shall govern.
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Related to Payment of Award

  • Notification of Award/Letter of Award means the formal award by the Employer of the Bid incorporating any adjustments or variation to the Bid agreed between the Employer and the Contractor.

  • Notification of Award means date which is earlier of either a Fax of Intent (FOI) or Letter of Intent (LOI) or Letter of Award (LOA) issued to a successful bidder for award of the work pursuant to bidding process.

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

  • Stock Unit Agreement means the agreement between the Company and the recipient of a Stock Unit which contains the terms, conditions and restrictions pertaining to such Stock Unit.

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

  • 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.

  • Cash Award means an award denominated in cash.

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

  • Notice of Award means formal notice of award of the Contract to the Contractor issued by the Contracting Officer.

  • Restricted Stock Unit Agreement means the agreement consistent with the terms of the Plan between the Company and the recipient of a Restricted Stock Unit that contains the terms, conditions and restrictions pertaining to such Restricted Stock Unit.

  • 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).

  • RSU Award Agreement means a written agreement between the Company and a holder of a RSU Award evidencing the terms and conditions of a RSU Award grant. The RSU Award Agreement includes the Grant Notice for the RSU Award and the agreement containing the written summary of the general terms and conditions applicable to the RSU Award and which is provided to a Participant along with the Grant Notice. Each RSU Award Agreement will be subject to the terms and conditions of the Plan.

  • Award Letter means the letter from the Customer to the Supplier printed above these terms and conditions;

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

  • 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.

  • Letter of Award means the official notice issued by the UGVCL notifying the contractor that his bid has been accepted.

  • Letter of Award (LOA) means the written official intimation by OMC notifying the Selected Bidder that the work has been awarded in its favour as per the terms and conditions mentioned therein;

  • Grant Agreement means the agreement entered into by the Parties, including the Signature Document, these Uniform Terms and Conditions, along with any attachments and amendments that may be issued by the System Agency.

  • RSU Agreement means a written agreement between the Company and a Participant evidencing the terms and conditions of an individual Award of Restricted Stock Units.

  • Phantom Stock Unit means the right to receive the value of one (1) share of the Company’s Common Stock, subject to the provisions of Section 8.4 of the Plan.

  • Deferred Stock Unit means a right granted to a Participant under Article 9 to receive Shares (or the equivalent value in cash or other property if the Committee so provides) at a future time as determined by the Committee, or as determined by the Participant within guidelines established by the Committee in the case of voluntary deferral elections.

  • PSU means Public Sector Undertaking

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

  • RSU means a contractual right granted pursuant to Section 9 that is denominated in Shares. Each RSU represents a right to receive the value of one Share (or a percentage of such value) in cash, Shares or a combination thereof. Awards of RSUs may include the right to receive dividend equivalents.

  • Evidence of Award means an agreement, certificate, resolution or other type or form of writing or other evidence approved by the Committee that sets forth the terms and conditions of the awards granted under this Plan. An Evidence of Award may be in an electronic medium, may be limited to notation on the books and records of the Company and, unless otherwise determined by the Committee, need not be signed by a representative of the Company or a Participant.