Variable Compensation Payment definition

Variable Compensation Payment means the amount of the annual payment, if any, under the Plan determined in accordance with procedures authorized by the Committee to be payable to a Participant for a Plan Year. Notwithstanding any provision in this Plan or such Committee-authorized procedures to the contrary, in determining the amount of a Participant’s Variable Compensation Payment for a Plan Year, if any, the Committee (with regard to any Executive Officer) and the CEO or the Department (with regard to all other Participants) shall have the discretion to increase such payment, subject to any maximum determined in accordance with any applicable guidelines or any other Company plan or policy or reduce such payment to any amount, including zero, prior to the payment date of such Variable Compensation Payment. The Variable Compensation Payment payable to a Participant for a Plan Year, if any, is determined in accordance with the applicable guidelines and any other applicable Company plan or policy. A Participant’s selection to receive a Variable Compensation Payment for a Plan Year shall in no way entitle him or her to receive, or otherwise obligate the Company, the Committee, the CEO or the Department to award such Participant, any Variable Compensation Payments with respect to any future Plan Year. The designation of a position (excluding a position as an Executive Officer) as an Eligible Position shall in no way obligate the CEO or the Committee to designate such position as an Eligible Position, or entitle the person occupying such Eligible Position to occupy any Eligible Position, with respect to any future Plan Year.
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Variable Compensation Payment as used in this Plan means those annual variable compensation payments payable (regardless of whether or not deferred) under (i) the Praxair, Inc. Variable Compensation Plan, or any successor plan, (ii) the Praxair, Inc. Mid-Management Variable Compensation Plan, or any successor plan, or (iii) any other variable compensation plan designated by the Committee.
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Variable Compensation Payment means the amount of the annual payment under the Plan determined in accordance with procedures authorized by the Committee to be payable to a Participant for a Plan Year.
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Examples of Variable Compensation Payment in a sentence

  • The Company shall take action it deems necessary or advisable for the purpose of conforming the Plan and any Variable Compensation Payment to any present or future law relating to plans of this or similar nature and to the administrative regulations and rulings promulgated thereunder.

  • If a Participant’s employment with the Company is terminated during a Plan Year for any reason, the Committee, with respect to any Executive Officers, shall determine in its discretion whether the Participant shall be entitled to a Variable Compensation Payment for such Plan Year and the amount of any such Variable Compensation Payment.

  • In addition, in determining the amount of the Variable Compensation Payment made to each Participant, the Committee or the Department, or its delegate, as applicable, shall consider the extent to which a Participant achieves, during a Plan Year, individual measures of performance, if any, established for such Participant for such Plan Year.

  • The Company shall have the right to deduct or withhold from any Variable Compensation Payment any federal, state, local or foreign income or other taxes required by law to be withheld with respect to such payment.

  • Each Participant will be solely responsible for any applicable taxes (including, without limitation, employment, income and any additional taxes), penalties and any interest thereon, that may be incurred in connection with the receipt any Variable Compensation Payment.

  • A Participant’s selection to receive a Variable Compensation Payment for a Plan Year shall in no way entitle him or her to receive, or otherwise obligate the Company, the Committee, the CEO or the Department to award such Participant, any Variable Compensation Payments with respect to any future Plan Year.

  • The information submitted should clearly identify previous experience of the person in performing similar services and should include beginning and ending dates, a description of the role of the person in such performances, results of the services performed, and whether the person is proposed for the same services for MoDOT.

  • The variable compensation payment funds were shared between APROFAM and USAID as follows: Table 7 Funding Source (%) for the Variable Compensation Payment Year 1.1.4.1 Pension Plan Institutionalized The Pension Plan is a financial product of Social Welfare which goal was to give the affiliated, at the time of his/her retirement, a pension type income to allow him/her to live with tranquility and welfare.

  • The Variable Compensation Payment payable to a Participant for a Plan Year, if any, is determined in accordance with the applicable guidelines and any other applicable Company plan or policy.


More Definitions of Variable Compensation Payment

Variable Compensation Payment means that amount of the annual payment, if any, under the Plan determined in accordance with procedures authorized by the Committee to be payable to a Participant for a Plan Year. Notwithstanding any provision in this Plan or such Committee-authorized procedures to the contrary, in determining the amount of a Participant's Variable Compensation Payment for a Plan Year, if any, the Committee shall have the discretion to reduce such payment to any amount, including zero, prior to the payment date of such Variable Compensation Payment (determined pursuant to Section 6.1), if the Committee deems such reduction to be in the best interests of the Corporation's stockholders."
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Variable Compensation Payment means any transaction bonus or other variable compensation payments to which any Transferred Employees are entitled.
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Related to Variable Compensation Payment

  • Compensation Payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an insurer to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the insurer’s contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the insurer accepts liability for having caused the loss concerned, but excludes any –

  • Contingent Compensation Payment means any payment (or benefit) in the nature of compensation that is made or made available (under this Agreement or otherwise) to a “disqualified individual” (as defined in Section 280G(c) of the Code) and that is contingent (within the meaning of Section 280G(b)(2)(A)(i) of the Code) on a Change in Ownership or Control of the Company.

  • Separation Payment means any lump sum cash payment in excess of Earned Salary and Accrued Obligations payable to Employee under this Agreement.

  • Capitation Payment means a payment the STATE makes periodically to the MCO for each Enrollee covered under the Contract for the provision of services as defined in Article 6 regardless of whether the Enrollee receives these services during the period covered by the payment.

  • Earnable compensation means the full rate of the

  • Eligible Compensation means, with respect to each Participant for each pay period, the full salary and wages paid to such Participant by the Company or a Participating Subsidiary, including commissions, bonuses (to the extent not excluded below), overtime pay and shift differentials. Except as otherwise determined by the Committee, “Eligible Compensation” does not include

  • Final compensation of a member means:

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

  • Incentive Payment means the payment to a STGU, including an AOBC Generation Unit, for RPS class I Renewable Generation Attributes and/or Environmental Attributes produced by these units, calculated pursuant to Section 7.0 below.

  • Special compensation means payment to an adult foster care facility to ensure the provision of a specialized program in addition to the basic payment for adult foster care. Special compensation does not include payment received directly from the Medicaid program for personal care services for a resident, or payment received under the supplemental security income program.

  • Additional Compensation has the meaning set out in Section 13.3(1).

  • Creditable compensation means the full compensation payable annually to an employee working

  • Cash Compensation means any discount, concession, fee, service fee, commission, sales charge, loan, override, or cash benefit received by a producer in connection with the recommendation or sale of an annuity from an insurer, intermediary, or directly from the consumer.

  • Termination Payments has the meaning specified in Section 10(a).

  • Gross compensation means every form of remuneration payable for a given period to an individual for services provided including salaries, commissions, vacation pay, severance pay, bonuses, and any board, rent, housing, lodging, payments in kind, and any similar benefit received from the individual's employer.

  • Severance Compensation means the compensation set forth in (i), (ii), and (iv) above.

  • Average final compensation means the average annual creditable compensation of a member during

  • Termination Payment has the meaning set forth in Section 6.03.

  • Current Compensation means all regular wage, salary and commission payments paid by the Company to a Participant in accordance with the terms of his or her employment, but excluding annual bonus payments and all other forms of special compensation.

  • Annual Cash Compensation means the sum of (a) the highest annual Base Salary in effect for the Executive and (b) the greater of (i) the Executive’s bonus for the most recently-completed year (excluding any special bonuses awarded for performance after the conclusion of the performance period), if any, or (ii) the annualized amount of the Executive’s target bonus for the then current year.

  • Basic Compensation means Salary and Benefits.

  • 414(s) Compensation means any definition of compensation that satisfies the nondiscrimination requirements of Code Section 414(s) and the Regulations thereunder. The period for determining 414(s) Compensation must be either the Plan Year or the calendar year ending with or within the Plan Year. An Employer may further limit the period taken into account to that part of the Plan Year or calendar year in which an Employee was a Participant in the component of the Plan being tested. The period used to determine 414(s) Compensation must be applied uniformly to all Participants for the Plan Year.

  • Recoverable Incentive Compensation means Incentive Compensation received by a Covered Officer during the Lookback Period that exceeds the amount of Incentive Compensation that would have been received had such amount been determined based on the Accounting Restatement, computed without regard to any taxes paid (i.e., on a gross basis without regard to tax withholdings and other deductions). For any compensation plans or programs that take into account Incentive Compensation, the amount of Recoverable Incentive Compensation for purposes of this Policy shall include, without limitation, the amount contributed to any notional account based on Recoverable Incentive Compensation and any earnings to date on that notional amount. For any Incentive Compensation that is based on stock price or TSR, where the Recoverable Incentive Compensation is not subject to mathematical recalculation directly from the information in an Accounting Restatement, the Administrator will determine the amount of Recoverable Incentive Compensation based on a reasonable estimate of the effect of the Accounting Restatement on the stock price or TSR upon which the Incentive Compensation was received. The Company shall maintain documentation of the determination of that reasonable estimate and provide such documentation to the Exchange in accordance with the Listing Standards.

  • Includible Compensation means an Employee’s actual wages in box 1 of Form W-2 for a year for services to the Employer, but subject to a maximum of $245,000 (or such higher maximum as may apply under section 401(a)(17) of the Code) and increased (up to the dollar maximum) by any compensation reduction election under section 125, 132(f), 401(k), 403(b), or 457(b) of the Code (including any Elective Deferral under the Plan). Beginning in 2009 and thereafter, such term also includes any “differential pay” that may be received from the Employer while performing qualified military service under section 414(u) of the Code. The amount of Includible Compensation is determined without regard to any community property laws.

  • Base Compensation means the amount equal to the sum of (i) the greater of Executive’s then-current Annual Base Salary or Executive’s Annual Base Salary as of the date one day prior to the Change in Control, and (ii) the Average Incentive Bonus.

  • Monthly salary means the portion of a member’s annual compensation which is paid to him or her per month.