Pool Award definition

Pool Award means an Award from an Incentive Pool described in Section 6(b)(i) or 6(b)(ii).

Pool Award means fifty percent (50%) of an Award to a Tier 2 Participant, which is allocated to the Tier 2 Participant from the Tier 2 Pool.

Examples of Pool Award in a sentence

• The Annual Bonus Pool Award is intended to be a Performance-Based Award within the meaning of the Plan, and all of the terms and conditions of this Award shall be interpreted in such a manner so as to qualify all compensation paid hereunder as “qualified performance-based compensation” within the meaning of Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”).

• Following the close of each Performance Period and prior to payment of any amount to any Participant under the Plan, the Committee must certify in writing as to the computation of the Annual Bonus Pool Award.

• The Committee shall retain sole and full discretion to reduce, in whole or in part, the amount of any Annual Bonus Pool Award otherwise payable to the Participant under the Plan.

• As a condition to participate in the Plan and to receive an Annual Bonus Pool Award, Participant shall execute and return to the Committee a duplicate of this Agreement.

• The Annual Bonus Pool Award made to Participant hereby is subject to all of the terms and conditions of the Plan, which terms and conditions are hereby incorporated by reference herein and made a part hereof.

• Payment of the Annual Bonus Pool Award may be made, subject to any deferred compensation election which may be permitted pursuant to any deferred compensation plan of the Company on which the Participant participates, at such times, with such restrictions and with such conditions as the Committee, in its sole discretion, may determine at the time of the grant of the Annual Bonus Pool Award.

• The maximum aggregate amount awarded or credited in any one Plan Year with respect to an Annual Incentive Pool Award shall be determined in accordance with Article 12.

• As provided for in the Plan, the maximum Annual Bonus Pool Award which may be awarded to the Participant pursuant to the Plan with respect to any Performance Period shall not exceed $1,500,000.

• On or around May 1 following the close of the Performance Period, and following the computation of the Annual Bonus Pool Award, the Participant shall be paid in cash.

• If an RSU Pool Award is forfeited, for purposes of the Stock Plan, such forfeited RSU Pool Award shall continue to be reserved for issuance in respect of RSU Pool Awards from the RSU Pool.