Variable Award definition

Variable Award means a specified cash award, calculated in accordance with Article 5, payable to a Participant under this Plan for services provided to the Company in 2018, as determined by the Award Committee from time to time in its sole discretion. Variable award payments hereunder shall be contingent on the attainment of one or more Performance Goals. The timing and conditions of the payment of the Variable Award are subject to the terms and conditions of the Plan and any other terms and conditions determined by the Award Committee to be appropriate in accordance with Article 7 of the Plan. The Variable Award may, but is not required to, be evidenced by a separate agreement executed by the Participant.
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Variable Award means a specified cash award, calculated in accordance with Article 5, payable to a Participant under this Plan for services provided to the Company in 2016, as determined by the Award Committee from time to time in its sole discretion. Variable award payments hereunder shall be contingent on the attainment of one or more Performance Goals. The timing and conditions of the payment of the Variable Award are subject to the terms and conditions of the Plan and any other terms and conditions determined by the Award Committee to be appropriate in accordance with Article 7 of the Plan. The Variable Award may, but is not required to, be evidenced by a separate agreement executed by the Participant. Article 3. Participation; Performance Goals and Award OpportunitiesThe amount of the Awards for each Plan Participant and the Performance Goals applicable to such Awards will be established by the Award Committee and communicated to each Plan Participant. The amount of each Award may be different for each Participant or levels of Participants as determined by the Award Committee. The amount of each Award shall be enumerated as a specified amount, calculated in accordance with Article 5 hereof, of United States dollars, unless the Award Committee determines the amount of any such Award in a local currency. The amount of each Award, to the extent it becomes payable, shall be paid in the form of cash only. Article 4. Review of Participant’s PerformancePerformance Goals will generally be set and determined for the 2016 calendar year by the Award Committee. The Award Committee, with input from the Company officer responsible for each Participant, will evaluate such Participant’s performance relative to the Performance Goals. Article 5. Payment of Awards
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Examples of Variable Award in a sentence

  • If, the Board determines to grant the Variable Award in the form of RSUs, the number of Shares subject to the RSU Award will be equal to: (x) the Award Value divided by (y) the fair market value of a Share on the date of grant, as determined by the Board in good faith.

  • If the Board elects to grant you a Variable Award, such Equity Award may, in the sole discretion of the Board, be in the form of an option to purchase Shares (a “Variable Option”) or an award of a number of Restricted Stock Units (“RSUs” and such award, the “RSU Award”).

  • If, the Variable Award is granted as a Variable Option, the number of Shares subject to the Variable Option will be equal to: (x) the Award Value divided by (y) the Black-Scholes value of a Share on the date of grant, as determined by the Board in good faith consistent with past practices.

Related to Variable Award

  • Stock Bonus Award means an Award granted under Section 10 of this Plan.

  • Performance Award Formula means, for any Performance Award, a formula or table established by the Committee pursuant to Section 10.3 which provides the basis for computing the value of a Performance Award at one or more levels of attainment of the applicable Performance Goal(s) measured as of the end of the applicable Performance Period.

  • 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.

  • Cash Award means an award denominated in cash.

  • Dividend Equivalent Right means an Award entitling the grantee to receive credits based on cash dividends that would have been paid on the shares of Stock specified in the Dividend Equivalent Right (or other award to which it relates) if such shares had been issued to and held by the grantee.

  • Appreciation Award means any Award under this Plan of any Stock Option, Stock Appreciation Right or Other Stock-Based Award, provided that such Other Stock-Based Award is based on the appreciation in value of a share of Common Stock in excess of an amount equal to at least the Fair Market Value of the Common Stock on the date such Other Stock-Based Award is granted.

  • Performance Award Agreement means a written agreement between the Company and a Participant with respect to a Performance Award.

  • Deferred Stock Unit means a right granted to a Participant under Article 9 to receive Shares (or the equivalent value in cash or other property if the Committee so provides) at a future time as determined by the Committee, or as determined by the Participant within guidelines established by the Committee in the case of voluntary deferral elections.

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

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

  • Deferred Stock Award means Awards granted pursuant to Section 8.

  • Restricted Stock Unit Award Agreement means a written agreement between the Company and a holder of a Restricted Stock Unit Award evidencing the terms and conditions of a Restricted Stock Unit Award grant. Each Restricted Stock Unit Award Agreement will be subject to the terms and conditions 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.

  • 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).

  • Other Stock Unit Award means any right granted to a Participant by the Committee pursuant to Section 10 hereof.

  • Other Stock Award Agreement means a written agreement between the Company and a holder of an Other Stock Award evidencing the terms and conditions of an Other Stock Award grant. Each Other Stock Award Agreement will be subject to the terms and conditions of the Plan.

  • 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.

  • Stock Bonus means an award of Shares, or cash in lieu of Shares, pursuant to Section 7.

  • Phantom Stock Award Agreement means a written agreement between the Company and a Holder with respect to a Phantom Stock Award.

  • Performance Grant means an Award subject, in part, to the terms, conditions and restrictions described in Section 9, pursuant to which the recipient may become entitled to receive cash, Class A Shares, Other Real Goods Securities or property, or other forms of payment, or any combination thereof, as determined by the Committee.

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

  • Stock Unit means a bookkeeping entry representing the equivalent of one Share, as awarded under the Plan.

  • Dividend Equivalent Rights means certain rights to receive cash payments as described in Section 3.5.

  • Deferred Share Unit or “DSU” 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 7;

  • 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.

  • Deferred Stock means a right to receive a specified number of shares of Stock during specified time periods pursuant to Article 8.