Plan Unit definition

Plan Unit means a Participant’s right to receive pursuant to the Plan one Share upon such Participant’s Termination of Employment, which right is subject to forfeiture in accordance with Section 14 (a) of the Plan.
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Plan Unit means a credit established in a Participant's Stock Plan Account reflecting the number of shares of Common Stock which could be purchased at Fair Market Value as of each Accounting Date as provided in Section 6.1. A Plan Unit shall be deemed to be the equivalent of a share of Common Stock and shall be subject to adjustment in the event of change in Common Stock as provided in Section 11.5.
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Plan Unit. OR "PLAN UNITS" means an award credited to a Participant's Account under this Plan which is stated in Units and where each Unit represents the value of a share of Company Stock upon a Corporate Transaction. The award of Plan Units under the Plan is not an award of Company Stock but merely the right to a distribution that will be earned when the following conditions are both met: A Corporate Transaction occurs and the Participant is employed by the Company at the time. The award of a Plan Unit shall not entitle a Participant to any dividend or voting rights or any other rights of a shareholder with respect to such Plan Units.
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Examples of Plan Unit in a sentence

  • The Company may require a Participant, as a condition of receiving payment upon conversion of a Plan Unit, to give written assurances in substance and form satisfactory to the Company and its counsel to such effect as the Company deems necessary or appropriate in order to comply with federal and applicable state securities laws.

  • No Participant shall have any rights as a stockholder with respect to any shares of Stock into which a Plan Unit is convertible until the Participant becomes the holder of record of such Stock.

  • No amendment, modification or termination of the Plan shall in any manner adversely affect any Plan Unit theretofore awarded under the Plan, without the consent of the Participant holding such Plan Unit.

  • Annual Reports (AACTE/CAEP and Title II)Annual reports (e.g., Diversity Plan, Unit Assessment System, Title II, and AACTE/CAEP) will be completed and submitted at the required deadlines.

  • Comply with the requirements of the Chief Engineer (Central Building Plan Unit), Pollution Control Department and/or other departments pursuant to your application/s for preliminary clearance.

  • The amount of any income deemed to be received by a Participant as a result of the payment upon conversion of a Plan Unit shall not constitute "earnings" or "compensation" with respect to which any other employee benefits of such Participant are determined, including without limitation benefits under any pension, profit sharing, life insurance or salary continuation plan.

  • To the extent a Growth Plan Unit award is earned, you will receive it in two installments (subject, of course, to the active employment criteria described herein).

  • Each Growth Plan Unit has a target value of $100 (“Target Value”).

  • Benefits awarded under this Plan shall be in the form of either (a) Plan Units and fractions thereof, with each Plan Unit to be equivalent to one Share or (b) cash equivalent credits to the Cash Account.

  • The Floor Plan Borrowers shall pay in full the Floor Plan Loans made with respect to any Floor Plan Vehicle or Unit within one (1) Business Day after such Floor Plan Vehicle or Unit ceases to qualify as an Eligible New Floor Plan Unit, Eligible Used Floor Plan Unit or Permitted Company Vehicle, as the case may be, as initially identified and financed under the Floor Plan Loans.


More Definitions of Plan Unit

Plan Unit means a single equal portion of the Plan Investment used to determine the Investment Value.
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Plan Unit means, with respect to a Fund, a Unit of a Fund purchased or sold under a Plan by the Plan Agent for a Plan Participant.
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Plan Unit means, with respect to a Fund, a Unit of a class purchased under the Plan by the Plan Agent for the CDS Participant through whom a Plan Participant holds Units.
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Plan Unit means, with respect to a Fund, a Unit purchased under the Plan by the Plan Agent for a Plan Participant.
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Related to Plan Unit

  • incentive plan award means compensation awarded, earned, paid, or payable under an incentive plan;

  • Unit and “Quality” means the unit and quantity specified in the schedule.

  • Units means the units of the Company, each comprised of one share of Common Stock and one-half of one Warrant.

  • Prior Plan Award means an award outstanding under the Prior Plan as of the Effective Date.

  • Share Award means an Award of Shares granted pursuant to Section 10.

  • sub-unit means, with respect to any currency other than euro, the lowest amount of such currency that is available as legal tender in the country of such currency and, with respect to euro, means one cent.

  • Share Unit means either an RSU or a PSU, as the context requires.

  • Award means, individually or collectively, a grant under the Plan of Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Units or Performance Shares.

  • Service unit means a standardized measure of consumption, use, generation, or discharge attributable to an individual unit of development calculated in accordance with generally accepted engineering or planning standards for a particular category of capital improvements.

  • Performance Unit means an Award which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine and which may be settled for cash, Shares or other securities or a combination of the foregoing pursuant to Section 10.

  • Performance Award means any right granted under Section 6(d) 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.

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

  • Service Award means any Court ordered payment to Plaintiff for serving as Class Representative, which is in addition to any payment due to Plaintiff as a Settlement Class Member.