Second Grant Year definition

Second Grant Year means the fiscal year of Health Management immediately following the conclusion of the First Grant Year.
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Second Grant Year means the financial year commencing on 1 July 1986;
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Examples of Second Grant Year in a sentence

  • The $4,000 that was not deemed Earned Cash Amount with respect to the First Grant Year would be carried over to the Second Grant Year for possible vesting and payment in accordance with Section 5(b).

  • The 5,000 Performance Shares that were not deemed Earned Performance Shares with respect to the First Grant Year would be carried over to the Second Grant Year for possible vesting in accordance with Section 4(b).

  • As soon as practicable following the end of the First Grant Year (and if applicable, the Second Grant Year), the Committee will determine and certify in writing if the Adjusted EBITDA Requirement was satisfied, and the Earned Performance Shares (and if applicable, the Additional Earned Performance Shares) and the Earned Cash Amount (and if applicable, the Additional Earned Cash Amount), if any, to be vested and paid based on the certified levels of performance.

  • If Health Management were to achieve 100% or more of the Targeted Adjusted EBITDA for the Second Grant Year, the Additional Earned Shares would be 5,000, 2,500 of which would vest on March 1 of the Third Grant Year, and 1,250 of which would vest on March 1 of each of the Fourth Grant Year and the Fifth Grant Year, assuming that you have remained an Eligible Person at all times through the vesting dates.

  • If Health Management were to achieve less than 100% of the Targeted Adjusted EBITDA for the Second Grant Year, the $4,000 that was not deemed Earned Cash Amount with respect to the First Grant Year would be forfeited.

  • The 200 shares of Deferred Stock that were not deemed Earned Shares with respect to the First Grant Year would be carried over to the Second Grant Year for possible vesting in accordance with Section 4(a)(ii).

  • If Health Management were to achieve less than 100% of the Targeted Adjusted EBITDA for the Second Grant Year, the 5,000 Performance Shares that were not deemed Earned Performance Shares with respect to the First Grant Year would be forfeited.

  • If HMA were to achieve 100% or more of the Targeted EBITDA for the Second Grant Year, the Additional Earned Shares would be 200, 100 of which would vest on March 1 of the Third Grant Year, 50 of which would vest on March 1 of the Fourth Grant Year, and 50 of which would vest on March 1 of the Fifth Grant Year, assuming that you have remained an Eligible Person at all times through the vesting dates.

  • In the event that all or any portion of the Performance Shares is not deemed Earned Performance Shares because HMA achieved less than 100% of the Targeted EBITDA for the First Grant Year, the portion that is not deemed Earned Performance Shares based on the achievement by HMA of the EBITDA Requirement during the First Grant Year will be carried over to the Second Grant Year and will be eligible for vesting if 100% or more of the Targeted EBITDA for the Second Grant Year is achieved.

  • In the event that all or any portion of the Performance Vesting Component is not eligible for vesting at the conclusion of the First Grant Year (and are not deemed Earned Shares) because HMA achieved less than 100% of the Targeted EBITDA for the First Grant Year, the portion that did not vest with respect to the First Grant Year shall be carried over to the Second Grant Year and will be eligible for vesting if 100% or more of the Targeted EBITDA for the Second Grant Year is achieved.

Related to Second Grant Year

  • Grant Year has the same meaning as in subclause 1(1) of Schedule 1 of HESA;

  • Agreement Year means a period of 12 months beginning on the Effective Date and each subsequent anniversary thereof.

  • First Year means the intake group of Students for the most junior class or year in a school.

  • Payment Year means the calendar year during which the applicable Initial Year Payments or Annual Payments are due pursuant to subsection V.B. Payment Year 1 is 2022, Payment Year 2 is 2023 and so forth. References to payment “for a Payment Year” mean the Initial Year Payments or Annual Payment due during that year. References to eligibility “for a Payment Year” mean eligibility in connection with the Initial Year Payments or Annual Payment due during that year.

  • Performance Year means the calendar year prior to the year in which an Annual Award is made by the Committee.

  • Planning Period Quarter means any of the following three month periods in the Planning Period: June, July and August; September, October and November; December, January and February; or March, April and May.

  • FY or “Fiscal Year” means the fiscal year of the Borrower commencing on July 1 and ending on June 30 of the following year;

  • Annual Incentive Plan means the Cinergy Corp. Annual Incentive Plan or any similar plan or successor to the Annual Incentive Plan.

  • Employment Year means each twelve-month period, or part thereof, during which Employee is employed hereunder, commencing on the Commencement Date and on the same day of the subsequent calendar year and each consecutive 12 month period thereafter.

  • Anniversary Year The one-year period beginning on the Closing Date and ending on the first anniversary thereof, and each subsequent one-year period beginning on the day after the end of the preceding Anniversary Year and ending on next succeeding anniversary of the Closing Date.

  • Sales Year means the calendar year during which the Company sold Cigarettes in a Beneficiary State requiring the deposit of QEF Principal.

  • Relevant Year t means the Financial Year for the purposes of which any calculation falls to be made; "Relevant Year t-1" means the Financial Year preceding Relevant Year t, and similar expressions shall be construed accordingly;

  • Performance Milestone means an act or event specified in section 5.1 and described in section 9 of the EPLA.

  • Program Year means the annual period beginning January 1 and ending December 31.

  • Adjustment Year has the meaning ascribed to said phrase under Section 6225(d)(2) of the Code.

  • STIP means the Company’s short-term incentive plan under Section 8 of the Company’s 2007 Omnibus Incentive Plan, effective May 8, 2007, as may be amended from time to time, or any successor plan, program or arrangement thereto.

  • Target Annual Bonus has the meaning set forth in Subsection 3b.

  • Annual Award means the cash payment paid or payable to the Executive with respect to a fiscal year under the Corporation's Incentive Compensation Performance Plan.

  • Budget Year means the financial year of the municipality for which an annual budget is to be approved in terms of section 16(1) of the MFMA;

  • Annual Grant means an Option granted annually to all Non-Employee Directors who meet the criteria specified in subsection 6(b) of the Plan.

  • relevant year means a year commencing at 00:00 hours on 1 April and ending at 23:59 hours on the following 31 March;

  • Annual Operating Plan has the meaning ascribed to it in Section 15.3(b)(i).

  • Annual Bonus shall have the meaning set forth in Section 4(b) hereof.

  • Previous year means the year preceding the current year;

  • Performance Measurement Period has the meaning set forth in Section 3.1(e)(ii).

  • EBITDA Target means the Company's projected earnings before interest, taxes, one-time transition expenses, non-cash compensation expense charges, depreciation and amortization, as contained in the Company's budget for the Applicable Period and which is approved by the Board (without reference to any adjustments or revision, upwards or downwards, to such projected earnings which are subsequently approved by the Board as part of any subsequent revision to such budget), and (ii) the term "Financial Results" shall mean the Company's EBITDA calculated by reference to the Company's financial statements for the Applicable Period as filed with the Securities and Exchange Commission (the "SEC").