PEC STIC definition

PEC STIC means the Peoples Energy Corporation Short Term Incentive Compensation Plan, as in effect on the Effective Date, as amended from time to time or any successor plan.
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PEC STIC means the Peoples Energy Corporation Short Term Incentive Compensation Plan, as in effect on the Effective Date, as amended from time to time or any successor plan. "PEC TAP" shall mean the Peoples Energy Corporation Termination Allowance Plan as in effect on the Effective Date, as amended from time to time and as enhanced as described in that certain PEC brochure for nonunion employees titled, "Career Transition Opportunities", dated November 1996. "Plan Year" shall mean the Plan Year as defined under the PEC STIC. "Present Value Amount" shall mean the amount calculated by the PEC Directors' Compensation-Nominating Committee as of the date of the termination of the Executive's employment as described in paragraph 3.a., using as a mortality basis the mortality basis used by the PEC Retirement Plan for determining benefits, or if such mortality basis is not available, a mortality basis determined by the PEC Retirement Plan's consulting actuaries, and assuming a discount rate equal to the average of the yield on Thirty (30) year United States Treasury Bonds for the second calendar month preceding the Executive's termination of employment as described in paragraph 3.a. "Rule of Eighty-Five" shall mean the Rule of Eighty-Five as defined under the PEC Retirement Plan. "SARs" shall mean SARs as defined under the PEC LTIC. "Stock Options" shall mean Options as defined under the PEC LTIC. "Term" shall mean the term of this Agreement as set forth in paragraph 2. "Trust" shall mean the Trust under Peoples Energy Corporation Executive Deferred Compensation Plan and Supplemental Retirement Benefit Plan, Part A and Part B, dated September 22, 1995, as amended July 1, 1996, in effect on the Effective Date, as amended from time to time.
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PEC STIC means the Peoples Energy Corporation Short Term Incentive Compensation Plan originally adopted on October 1, 1992 as in effect prior to February 27, 2004, the effective date of the 2004 Plan.
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Examples of PEC STIC in a sentence

  • It is understood and agreed by all parties hereto that a reduction in (a) the amount the Executive receives under PEC STIC, (b) the awards received by the Executive under the PEC LTIC, or (c) the prerequisites or benefits of the Executive shall not be deemed a reduction if such amount received under the PEC STIC, awards received under the PEC LTIC, or such prerequisites or benefits are the same as received by the Company's similarly situated officers.

  • The Executive shall be entitled to receive any vested benefits credited or accrued on his behalf under any retirement plan, bonus program or incentive arrangement maintained by the Company, including, but not limited to, the PEC LTIC, the PEC Retirement Plan, the PEC SRB and the PEC STIC.

  • Executive shall receive an award under the PEC STIC for the 2004 STIC Plan Year determined as if he were the President of The Peoples Gas Light and Coke Company and North Shore Gas Company and Executive Vice President of Peoples Energy Corporation for the entire 2004 STIC Plan Year.


More Definitions of PEC STIC

PEC STIC means the Peoples Energy Corporation Short-Term Incentive Compensation Plan as in effect immediately prior to February 27, 2004.
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Related to PEC STIC

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