CIP Payment Sample Clauses
The CIP Payment clause defines the terms and conditions under which payments are made for goods or services delivered under a contract, specifically referencing the "Carriage and Insurance Paid to" (CIP) Incoterm. Under this clause, the seller is responsible for arranging and paying for the transportation and insurance of goods to a specified destination, while the buyer assumes risk once the goods are handed over to the carrier. This clause ensures that both parties clearly understand their financial and logistical responsibilities, reducing disputes over payment timing, risk allocation, and insurance coverage during transit.
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CIP Payment. Executive will be paid for CIP earned while an employee prior to the termination date and through the period nine (9) months following the termination date, even if not employed on the pay-out date as required by the CIP plan. Such payment will be made at the same time and at the same percentage as other similarly situated employees. For example, if Executive is terminated on September 1, 2016, Executive would receive a CIP payment as if such Executive was employed through May 2017. Such payment will be paid out per the normal pay cycle in or around February 2017 and August 2017 based on company achievement per the applicable plan. For clarity, consistent with Section 4 above, if such termination occurred in 2015 under this clause, Executive will receive no lower than 75% of the amount payable under the 2015 CIP, regardless of funding levels for other similarly situated employees.
CIP Payment. Executive will be paid for CIP earned while an employee prior to the termination date and through the period nine (9) months following the termination date, even if not employed on the pay-out date as required by the CIP plan. The CIP payment will be paid out per the normal pay cycle in or around February and will be based on Company achievement per the applicable plan, and accordingly all such CIP payments shall be treated as “short-term deferrals” exempt from the requirements of Code Section 409A.
CIP Payment. Executive will be paid for CIP earned while an employee prior to the termination date and through the period nine (9) months following the termination date, even if not employed on the pay-out date as required by the CIP plan. Such payment will be made at the same time and at the same percentage as other similarly situated employees. For example, if Executive is terminated on September 1, 2018, Executive would receive a CIP payment as if Executive were employed through May 2019. Such payment will be paid out per the normal pay cycle (and prior to the latest dates of payment set forth in Section 3, above) in or around February and August based on Company achievement per the applicable plan, and accordingly all such CIP payments shall be treated as “short-term deferrals” exempt from the requirements of Code Section 409A.
CIP Payment. Provided the Supplemental Release becomes effective, Employee will be paid for CIP earned while an employee, even if not employed on the pay-out date, as required by the CIP plan. For example, if Employee’s employment ends on June 30, 2015 then employee will receive CIP earned for 2015 H1, to be paid out per the normal pay cycle in or around August 2015 based on company achievement per the standard plan.