Timing, Payment & Eligibility Clause Samples

Timing, Payment & Eligibility. 2.2.1 The measurement period for the VPBS is the full calendar year being from the 1st January to the 31st December each calendar year. 2.2.2 The VPBS is an “at risk” payment separate to the annualised base salary and is dependent on the performance of the Plant Team(s) and Castrol business over the full calendar year. 2.2.3 Payment of the VPBS will be made in February (or once all results are published) each calendar year. 2.2.4 Only permanent employees are eligible to participate in the scheme after 3-months of continuous service, subject to Clause 2.2.5 below. 2.2.5 In event that a Casual worker’s employment is converted to permanent employment, their period of service as a Casual worker in that calendar year will be recognised for purposes of eligibility for the performance bonus.
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Related to Timing, Payment & Eligibility

  • Dependent Eligibility For all programs covered in this article, eligible dependents are an employee’s lawful spouse or domestic partner (as defined by Section 297 of the California Family Code), and unmarried children (natural, step, adopted, legal guardianship, and/or ▇▇▇▇▇▇) of the employee or domestic partner, who are qualified IRS dependents of the employee or domestic partner, up to twenty-three (23) years of age. Disabled dependents may be able to continue coverage beyond the limiting age if the disability occurred while the dependent was covered under a County-sponsored medical plan or prior to the dependent’s 19th birthday, and is certified by a licensed physician.

  • Change of Control Benefit Upon a Change of Control, the Company shall pay to the Executive the benefit described in this Section 2.4 in lieu of any other benefit under this Agreement.

  • Lump Sum Payment If an individual JOC Task Order is scheduled for Completion within forty-five (45) days or less, the County will make one payment after thirty (30) days of Work to the Contractor, exclusive of retention. Contractor may request for one payment (including retention payment); however, payment will be made after Final Acceptance of the JOC Task Order.

  • Change in Control Benefit If a Change in Control occurs followed within twenty-four (24) months by Separation from Service prior to Normal Retirement Age, the Bank shall distribute to the Executive the benefit described in this Section 2.4 in lieu of any other benefit under this Article.

  • Lump Sum Severance Payment Payment of a lump sum amount equal to twelve (12) months of Executive’s then-current Base Salary plus the Pro Rated Bonus, less all customary and required taxes and employment-related deductions, paid on the first payroll date following the date on which the Release required by Paragraph 4(g) becomes effective and non-revocable, but not after seventy (70) days following the effective date of termination from employment.