Incentive Compensation Payment definition

Incentive Compensation Payment shall equal the amount that would have been payable to Employee pursuant to all of the terms and provisions of the Company's MIP, as it may be amended or replaced from time to time, had Employee's employment continued until the end of the fiscal year of the Company in which Employee's Termination Date occurs. (This payment shall be in addition to any payment for a prior fiscal year which has not yet been paid.) For purposes of calculating the amount that would have been due to Employee pursuant to the MIP (i) any provision of the MIP requiring continued employment will be disregarded; (ii) the Company shall assume that Employee's Base Salary would continue throughout the end of such fiscal year at the same rate in effect on the Termination Date; (iii) the actual performance of the Company shall be utilized; (iv) the Company shall assume that any subjective performance criteria or requirements were satisfied; and (v) all other factors impacting the calculation of the amounts due will be determined by the Company's Board of Directors or a Committee thereof in the exercise of its discretion. The Incentive Compensation Payment will be paid at the same time as similar payments are paid to active employees. The Employee shall not be entitled to receive any compensation or grants pursuant to the Company's Long Term Incentive Plan, or any successor plan or program, following the Termination Date. Company also intends that life, disability, accident and group health benefits and coverages (each an "Insurance Benefit" and collectively the "Insurance Benefits") substantially similar to those which Employee was receiving immediately prior to the Notice Date be made available to Employee following the Notice Date, but Company does not intend to duplicate Insurance Benefits provided by a successor employer. If and to the extent that and so long as such Insurance Benefits (or an Insurance Benefit) is not provided by a successor employer, Company will arrange to provide such Insurance Benefit or Insurance Benefits to Employee at a cost to Employee of not more than the cost to Employee of similar coverage immediately prior to the Notice Date. If an Insurance Benefit is not provided by a successor employer and Company, after a good faith effort, is unable to provide continued coverage to Employee with respect to one or more of such Insurance Benefits because of restrictions imposed by any insurance carrier that provides such Insurance Benefit or Benefits, in lieu of the una...
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Incentive Compensation Payment has the meaning assigned to such term in the Genesis OLP Partnership Agreement.
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Incentive Compensation Payment shall equal the maximum amount that would have been payable to Employee pursuant to all of the terms and provisions of the Company's EMIP, as it may be amended or replaced from time to time, had Employee's employment continued until the end of the fiscal year of the Company in which Employee's Termination Date occurs. (This payment shall be in addition to any payment for a prior fiscal year which has not yet been paid.) For purposes of calculating the amount that would have been due to Employee pursuant to the EMIP (i) any provision of the EMIP requiring continued employment will be disregarded; (ii) the Company shall assume that Employee's Base Salary would continue throughout the end of such fiscal year at the same rate in effect on the Termination Date; (iii) the actual performance of the Company shall be utilized; (iv) the Company shall assume that any subjective performance criteria or requirements were satisfied; and (v) all other factors impacting the calculation of the amounts due will be determined by the Company's Board of Directors or a Committee thereof in the exercise of its discretion. The Incentive Compensation Payment will be paid at the same time as incentive payments are or would, based on historical practices, be paid to active employees. The Employee shall not be entitled to receive any compensation or grants pursuant to the Company's Long Term Incentive Plan, or any successor plan or program, following the Termination Date.
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Examples of Incentive Compensation Payment in a sentence

  • Upon payment of amounts provided for in this paragraph, the Incentive Compensation Payment shall be deemed paid in full, and the surviving company from any merger or consolidation or the purchaser of assets or any other successor shall have no obligation with respect to the incentive Compensation Payment.

  • The Executive shall not be entitled to receive any Incentive Compensation Payment that had not accrued prior to the Executive's termination for cause by the Company or without cause by the Executive.

  • The Executive shall be entitled to receive any Incentive Compensation Payment that accrued prior to the date on which the Executive's employment terminates as specified in Section 5.

  • Each Cash Incentive Compensation Payment shall be paid to the Employee within fifteen (15) business days after completion and release of the audited financial statements of the Company for the applicable fiscal year.

  • Promptly following such conversion to cash, the Company shall make a cash payment in the amount so converted to the Dealer Manager, until the Dealer Manager has received the remaining unpaid Incentive Compensation Payment.

  • The Company shall be obligated to pay to the Employee’s estate the amount of any earned but unpaid compensation as provided hereunder for the period prior to the effective date of such termination, including accrued but unpaid Base Salary, any earned Cash Incentive Compensation Payment, and any other benefits accrued through such effective date of such termination under employee benefit plans, if any, of Company.

  • If the Liquidity Event Consideration is other than cash the Company shall, in good faith, value any non-cash consideration and shall transfer to the Dealer Manager either cash or Liquidity Event Consideration, or a combination thereof, having a value of the lesser of (i) 42.857% of all amounts paid to the holders of Incentive Distribution Rights and Class B Units and (ii) the remaining unpaid amount of the Incentive Compensation Payment.

  • For the avoidance of doubt, in connection with a liquidity event, the intent is for the Dealer Manager to receive 30% of the sum of the amounts paid to the holders of Incentive Distribution Rights, Class B Units plus the Incentive Compensation Payment.

  • Jul 29, 2008 07 STA5943 Subreports within table/matrix cells are ignored.

  • In no event shall the total aggregate compensation payable to the Dealer Manager and any Soliciting Dealers participating in the Offering, including, but not limited to, Selling Commissions, the Marketing Expense Allowance , the Incentive Compensation Payment and Account Maintenance Fees , exceed ten percent (10%) of gross offering proceeds from the Offering.


More Definitions of Incentive Compensation Payment

Incentive Compensation Payment has the meaning assigned to such term in the Third Amended OLP Agreement.
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Incentive Compensation Payment shall equal the average annual "Incentive Compensation" paid to Dion by Company with respect to the five fiscal years preceding the fiscal year in which the Termination Date occurs divided by 26. For purposes of this Section, "Incentive Compensation" refers to the amounts payable to Dion pursuant to any management incentive compensation or bonus program sponsored by Company during the fiscal years included in the five-year averaging period. The payments called for by the preceding provisions of this Section shall continue throughout the Employment Period. Company then shall pay Dion the Consulting Fee in equal bi-weekly payments throughout the Consulting Period.
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Incentive Compensation Payment means a payment made to the General Partner pursuant to Section 7.12 of the Third Amended Agreement.
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Incentive Compensation Payment or “Payment” means the payment made to a Participant under the Plan.
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Incentive Compensation Payment means a payment made to the Operating General Partner pursuant to Section 7.12.
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Related to Incentive 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 –

  • Incentive Compensation Plan means any plan, agreement or other arrangement that provides for the grant or issuance of equity or equity-based awards and that is now in effect or is hereafter adopted by the Company or the Manager for the benefit of any of their respective employees or other service providers (including directors, advisers and consultants), or the employees or other services providers (including directors, advisers and consultants) of any of their respective Affiliates or Subsidiaries.

  • Incentive Compensation means any compensation that is granted, earned or vested based wholly or in part upon the attainment of a Financial Reporting Measure.

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

  • Incentive Compensation Plans means annual incentive compensation plans and long‑term incentive compensation plans of the Company, which long‑term incentive compensation plans may include plans offering stock options, restricted stock and other long‑term incentive compensation.