STIP Award definition

STIP Award means a performance bonus earned pursuant to the terms of the Corporation’s Short-Term Incentive Plan that may be settled in any combination of cash or Common Shares (either issued from treasury or purchased in the open market).
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STIP Award means any short-term incentive award granted pursuant to The Timken Company Short-Term Incentive Plan Global Plan Document (as amended or amended and restated from time to time) or any successor plan(s).
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STIP Award means (i) for Officers, the annual standard award determined under the applicable incentive plan which contains an adjustment for changes in position rate; or (ii) for Participants who are not Officers, the actual award payable under the applicable incentive award plan. In the case of any non-Officer Participant whose final 60 months includes periods before 1995 for which the Participant received team awards under the Company's team award program (and therefore was not eligible for a STIP Award), the actual team award received shall be considered a STIP Award for purposes of this definition.
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Examples of STIP Award in a sentence

  • Moreover, within its risk management the Bank keeps taking measures aimed at improving the organizational efficiency.

  • The STIP Award will be payable following the completion of each fiscal year, at such time and in such amount as may be determined by the Board of Directors of LICY (the “Board”) from time to time based on the achievement of certain corporate and/or individual “key performance indicators”.

  • All amounts payable by CURO to Employee hereunder (including, but not limited to, Base Salary and STIP Award) shall be reduced prior to the delivery of such payment to Employee by an amount sufficient to satisfy any applicable federal, state, local or other withholding tax requirements.

  • The Executive understands that the awards referenced in Sections 3.2 (Annual STIP Award) and Section 3.3 (Annual LTIP Award) (collectively, the “Awards”) are subject to the terms of XXXX’s long-term incentive award plans and the relevant agreements governing the Awards, in place and as amended from time to time.

  • Except as otherwise provided for in this Agreement, any STIP Award actually earned by Employee in any calendar year shall be paid to Employee at the same time and manner as CURO pays annual short-term incentive compensation awards to other executive officers, subject to Employee’s employment through the applicable performance period.

  • If there is a Change in Control (as defined in the PFC Equity Incentive Plan) during a performance period, any unvested STIP Award will be deemed earned and vested at target levels, unless the Committee determines actual performance or that a different treatment is appropriate, on the effective date of the Change in Control and the Cash Payout paid no later than sixty (60) days following the effective date of the change in control.

  • This Plan and any STIP Award is intended to comply with Section 409A of the Code or an exemption thereunder and shall be construed and interpreted in a manner that is consistent with the requirements for avoiding additional taxes or penalties under Section 409A of the Code.

  • This Plan and any unvested STIP Award is discretionary and may be amended, cancelled or terminated by the Company at any time, in its sole discretion.

  • The grant of a STIP Award or Target Award does not create any contractual right or other right to receive any Actual Award or any STIP Award in the future.

  • The target amount of the STIP Award to which the Executive may be entitled in respect of a financial year (the “STIP Target”), as well as any terms and conditions applicable to the STIP Award, will be established by the Board prior to the commencement of such financial year.


More Definitions of STIP Award

STIP Award means an award under the STIP.
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Related to STIP Award

  • LTIP Award means each or any, as the context requires, LTIP Award issued under any Equity Incentive Plan.

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

  • Incentive Award means the right to receive a cash payment to the extent Performance Goals are achieved, and shall include “Annual Incentive Awards” as described in Section 10 and “Long-Term Incentive Awards” as described in Section 11.

  • 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.

  • Annual Incentive Award means an Award made subject to attainment of performance goals (as described in Section 14) over a performance period of up to one year (the Company’s fiscal year, unless otherwise specified by the Committee).

  • Cash Award means an award denominated in cash.

  • Other Incentive Award means an Award denominated in, linked to or derived from Shares or value metrics related to Shares, granted pursuant to Section 9.6 hereof.

  • Performance Compensation Award means any Award designated by the Committee as a Performance Compensation Award pursuant to Section 11 of the Plan.

  • Performance Share Award means an Award entitling the recipient to acquire shares of Stock upon the attainment of specified Performance Goals.

  • Performance Share Unit or “PSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 6;

  • Performance Stock Unit means a right granted to a Participant pursuant to Section 8.2, to receive Stock, the payment of which is contingent upon achieving certain Performance Goals or other performance-based targets established by the Committee.

  • Incentive Bonus means a bonus opportunity awarded under Section 9 pursuant to which a Participant may become entitled to receive an amount based on satisfaction of such performance criteria as are specified in the Award Agreement.

  • Bonus Award means a bonus award made pursuant to Section 9.

  • Long-Term Incentive Award means an Award described in Section 6(g) hereof that is based upon a period in excess of one year.

  • Cash Incentive Award means a cash award granted pursuant to Section 8 of this Plan.

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

  • Stock Unit Award means a right to receive shares of Common Stock which is granted pursuant to the terms and conditions of Section 7(c).

  • Performance Stock Award means a Stock Award granted under the terms and conditions of Section 6(c)(i).

  • PSU means Public Sector Undertaking

  • RSU means a contractual right granted pursuant to Section 9 that is denominated in Shares. Each RSU represents a right to receive the value of one Share (or a percentage of such value) in cash, Shares or a combination thereof. Awards of RSUs may include the right to receive dividend equivalents.

  • Equity Award means all incentive stock options, non-statutory stock options, shares of restricted stock, restricted stock units or other incentive equity awards in respect of shares of the Company’s equity securities that have been or will be granted to you by the Company.

  • Performance Share Units means Performance Share Units granted to an Eligible Individual under Section 9.1(b).

  • Phantom Stock Unit means the right to receive the value of one (1) share of the Company’s Common Stock, subject to the provisions of Section 8.4 of the Plan.

  • 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.

  • Target Award means the target award, at 100% of target level performance achievement, payable under the Plan to a Participant for the Performance Period, as determined by the Committee in accordance with Section 3(b).

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