Reduction Year definition

Reduction Year shall have the meaning set forth in Section 5.1(f).
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Reduction Year means a period starting on the first of April and ending on the following 31 March.
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Reduction Year has the meaning given to it in Section 5.1(e)(i).
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Examples of Reduction Year in a sentence

  • Acquisition Shares and Award Shares determined pursuant to this Section 4 shall be delivered to each Participant as soon as administratively feasible, but generally prior to the record date for payment of the dividend declared in January of the Reduction Year.

  • Each Participant must deliver written notice of Participant’s election to obtain an Award pursuant to this Section 4 to the Director of Human Resources of CHCT, or other person appointed by the Committee, prior to the end of the last business day before the beginning of the Reduction Year.

  • The Investment Limited Partner shall be eligible to be paid a Reduction Amount as hereinabove described with respect to each Reduction Year.

  • The Auditors shall make their determination of the amount of the Actual Credit with respect to each Reduction Year within thirty (30) days following the end of such Fiscal Year.

  • The Investment Limited Partner shall be eligible to be paid a Reduction Amount as hereinabove described with respect to each Reduction Year and may receive multiple payments of Reduction Amounts in the event of multiple changes in the Actual Credit.

  • Election notices under this Program will not be “evergreen”; i.e., an election notice with respect to one Reduction Year will not apply to a subsequent Reduction Year, and a new election notice must be submitted in accordance with this Section 4(g) with respect to each Reduction Year for which a Participant is eligible and desires to reduce his or her Compensation.

  • Except as described in this subsection, the amount of Compensation that is elected by a Participant shall be determined on January 15 of the Reduction Year or, for Participants who are non-employee members of the Board, the 15th business day following the annual meeting of the Company’s stockholders.

  • See Exhibit A for the current percentages.The amount of Base Salary, cash bonus, retainer, fees or other compensation applied to the acquisition of Restricted Stock shall reduce the Base Salary, cash bonus, retainer, fees or other compensation of the Participant for the Reduction Year.

  • For the avoidance of doubt, Compensation shall be considered payable with respect to a Reduction Year (as defined below) even if paid in a subsequent year, provided that it relates to such Reduction Year (e.g., short-term incentive compensation that relates to performance in the Reduction Year, the amount of which, absent an election pursuant to this Program, would otherwise be payable in the year following the Reduction Year).

  • Each Non-Employee Director must deliver written notice, substantially in the form attached as Exhibit A to this Amendment, of such Non-Employee Director’s election to obtain an Award pursuant to this Section 2 to the Company no later than December 31 of the year immediately preceding the Reduction Year.

Related to Reduction Year

  • Election Year means a year in which ordinary elections for local governments are required to be held;

  • Allocation Year Means (i) the period commencing on the Closing Date and ending on December 31, 2006, (ii) any subsequent period commencing on January 1 and ending on the following December 31, or (iii) any portion of the period described in clause (ii) for which the Company is required to allocate Profits, Losses and other items of Company income, gain, loss or deduction pursuant to Article V.

  • Termination Year means the calendar year in which the Employment Period is terminated.

  • Production Year means the 12- month period between September 1 of one year and August 31 of the following year, inclusive.

  • Vacation Year means the twelve (12) month period commencing on the first (1st) day of April in each calendar year and concluding on the thirty-first (31st) day of March of the following calendar year.

  • transition year means the financial year of an issuer or business in which the issuer or business changes its financial year-end;

  • Compensation Year means a period of 12 months expiring 31 March in any year;

  • Determination Year means the Plan Year for which testing is being performed, and the “look-back year” means the immediately preceding twelve (12) month period.

  • Limitation Year means the Plan Year.

  • taxation year means the calendar year to which an assessment roll applies for the purposes of taxation;

  • Open Year has the meaning specified in Section 4.01(r)(iii).

  • Excess Contribution means a contribution that exceeds the

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Leave Year means the period during which the Agency Worker accrues and may take statutory leave commencing on the date that the Agency Worker starts an Assignment or a series of Assignments;

  • Average Monthly Compensation means the quotient determined by dividing the sum of the Employee’s then current Base Salary (as defined in Section 4.1 hereof) and the greater of the most recently paid Incentive Compensation (as defined in Section 4.2 hereof) or the average of Incentive Compensation paid over the three most recent years by twelve.

  • Plan Year means the calendar year.

  • Comparison Year is defined as each calendar year during the term of this Lease subsequent to the Base Year; provided, however, Lessee shall have no obligation to pay a share of the Operating Expense Increase applicable to the first twelve (12) months of the Lease Term (other than such as are mandated by a governmental authority, as to which government mandated expenses Lessee shall pay Lessee's Share, notwithstanding they occur during the first twelve (12) months). Lessee's Share of the Operating Expense Increase for the first and last Comparison Years of the Lease Term shall be prorated according to that portion of such Comparison Year as to which Lessee is responsible for a share of such increase.

  • Benefit year means the period of twelve consecutive months, July 1 through June 30, as established by an employer in which an employee shall accrue and use earned sick leave as provided pursuant to N.J.S.A. 34:11D-2, provided that once the starting date of the benefit year is established by the employer it shall not be changed unless the employer notifies the Commissioner of Labor and Workforce Development of the change in accordance with regulations promulgated pursuant to the Act. The Commissioner shall impose a benefit year on any employer the Commissioner determines is changing the benefit year at times or in ways that prevent the accrual or use of earned sick leave by an employee.

  • Funding Year means in the case of the first Funding Year, the period commencing on the Effective Date and ending on the following March 31, and in the case of Funding Years subsequent to the first Funding Year, the period commencing on the date that is April 1 following the end of the previous Funding Year and ending on the following March 31;

  • Crop year means any 12 month period which represents the planting, growing, harvesting and marketing of an insurable crop, as stated in the Schedules;

  • Tax Year means a period beginning with 6th April in one year and ending with 5th April in the next;

  • Excess Compensation means Compensation in excess of the following Integration Level: (Choose (1) or (2))

  • reduction week means a period of seven consecutive days beginning with a Monday and ending with a Sunday;

  • Final Average Compensation means the aggregate amount of a member's compensation earned within the averaging period in which the aggregate amount of compensation was highest divided by the member's number of years, including any fraction of a year, of credited service during the averaging period. The averaging period shall be 36 consecutive calendar months if the member contributes to the member investment plan except for a member who contributes to the member investment plan and first became a member on or after July 1, 2010; otherwise, the averaging period shall be 60 consecutive calendar months. A member who contributes to the member investment plan and first became a member on or after July 1, 2010 shall also have an averaging period of 60 consecutive calendar months. If the member has less than 1 year of credited service in the averaging period, the number of consecutive calendar months in the averaging period shall be increased to the lowest number of consecutive calendar months that contains 1 year of credited service.

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • Percentage Allocation is defined in Section 4.3(b)(ii)(y).