Award Fund definition

Award Fund means the aggregate amount made available in any Performance Year pursuant to Article V hereof from which Awards determined under Article VI hereof may be made.
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Award Fund means the aggregate amount made available in any Plan Year pursuant to Section V hereof from which awards determined under Section VII hereof may be made.
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Award Fund means the amount, not in excess of 12% of Incentive Earnings, which is recommended by the Committee and approved by the Board of Directors as the maximum amount to be used for awards under the Plan for the applicable year. Any unawarded portion of the Award Fund shall not be available for awards for subsequent years.
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Examples of Award Fund in a sentence

  • The Company shall proceed promptly to rebuild or restore the Equipment and the Improvements to substantially the same or better condition or value as they existed prior to the event causing such damage or destruction; any Net Proceeds of insurance received in respect of such damage or destruction and on deposit with the Trustee in the Insurance and Award Fund shall be applied to such restoration or repair as provided in the Indenture.

  • The Company shall proceed promptly to restore the Equipment and the Improvements to a condition substantially similar to their pre-taking condition, through the replacement of the Equipment, the restoration of the Improvements or otherwise; any Net Proceeds received from any award or awards in respect of such taking or takings and on deposit with the Trustee in the Insurance and Award Fund shall be applied to such restoration as provided in the Indenture.

  • An Award Fund will be established, the size of which will be determined by the Committee.

  • The Exchange Fund and the Compensatory Award Fund shall not be used for any other purpose.

  • The Board of Directors may discontinue the Plan at any time and may from time to time amend the terms of the Plan; provided, however, that no such discontinuance or amendment shall adversely affect any right or obligation with respect to any award theretofore made, and no such amendment shall, without the approval of stockholders, operate so as to increase the annual amount of the Award Fund or increase the aggregate number of shares of the Corporation's Common Stock that may be issued under the Plan.

  • In each Plan Year, an Award Fund shall be established equal to 2.5% of Net Income.

  • However, the Committee reserves the right to decrease the amount of the Award Fund in any given Performance Year.

  • In the event the Exchange Fund or the Compensatory Award Fund shall be insufficient to make the payments in connection with the Public Merger and the LP Mergers contemplated by Section 3.01, Section 3.02 or Section 3.06, respectively, Parent shall promptly deposit or cause to be deposited additional funds with the Paying Agent or the Surviving Corporation, as applicable, in an amount that is equal to the deficiency in the amount required to make the applicable payment.

  • All other Participants may receive an award not to exceed that amount which is 90% of the maximum Award Fund for that Plan Year divided by the number of Participants, other than the chief executive officer, in the Plan for that Plan Year.

  • Each Participant designated by the Committee shall be awarded a specific number of Participation Units (“Units”), representing a pro-rata claim, in proportion to the total number of designated Units, on any Award Fund established under this Plan during the Award Period.


More Definitions of Award Fund

Award Fund means the total of the Target Awards for each Participant as determined and approved in accordance with Section 5 hereof.
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Related to Award Fund

  • 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.

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

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

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

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

  • Cash Award means an award denominated in cash.

  • Performance Unit Award means an award of Performance Units under this Plan.

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

  • Performance Awards means Performance Units, Performance Shares or either or both of them.

  • Award Criteria means the award criteria to be applied for the direct award of Call Off Agreements for Goods and/or Services set out in Part A of Framework Schedule 6 (Award Criteria); Dispute means any dispute, difference or question of interpretation arising out of or in connection with this Framework Agreement, including any dispute, difference or question of interpretation relating to the Goods and/or Services, failure to agree in accordance with the procedure for variations in Clause 16.1(Variation Procedure) or any matter where this Framework Agreement directs the Parties to resolve an issue by reference to the Dispute Resolution Procedure;

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

  • Cash Performance Award means an Award that is denominated by a cash amount to an Eligible Person under Section 10 hereof and payable based on or conditioned upon the attainment of pre-established business and/or individual Performance Goals over a specified performance period.

  • Award Year means a fiscal year beginning January 1 and ending December 31 with respect to which an Award may be granted.

  • Phantom Stock Award means an Award granted under Paragraph X of the Plan.

  • Award Cycle means a period of consecutive fiscal years or portions thereof designated by the Committee over which Performance Units are to be earned.

  • Performance Cash Award means an award of cash granted pursuant to the terms and conditions of Section 6(c)(ii).

  • Direct Award Criteria means the award criteria to be applied for the award of Call-Off Contracts for Standard Services set out in Part 1 of Schedule 6 (Award Criteria) of this Framework Agreement;

  • Unit Award means a grant of a Unit that is not subject to a Restricted Period.

  • Long-Term Performance Award means an award under Section 10 below. A Long-Term Performance Award shall permit the recipient to receive a cash or stock bonus (as determined by the Committee) upon satisfaction of such performance factors as are set out in the recipient's individual grant. Long-Term Performance Awards will be based upon the achievement of Company, Subsidiary and/or individual performance factors or upon such other criteria as the Committee may deem appropriate.

  • Phantom Stock means a right granted to an Eligible Individual under Section 12 representing a number of hypothetical Shares.

  • Award Value means the value, in dollars, of an award made to a Participant and as stated in the applicable Award Agreement, which is provided under the Plan in the form of PSUs or RSUs, as the case may be.

  • 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.

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

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

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