Common use of Performance Pay Program Clause in Contracts

Performance Pay Program. The provisions of this Section 2.2(e) shall apply to the Performance Pay Program under the Omnibus Plan, the defined terms of which are incorporated in this Section 2.2(e) by reference. Provided Mr. Garrett is not entitled to a Cash-Based Award under th▇ ▇▇▇, ▇▇ ▇he PPP is in place as of Mr. Garrett's Separation Date and to the extent Mr. Garret▇ ▇▇ ▇▇▇▇▇▇▇d to participate therein, Mr. Ga▇▇▇▇▇ ▇▇▇▇l be entitled to receive cash in an amount e▇▇▇▇ ▇▇ ▇ prorated payout of his Cash-Based Award under the PPP for the performance period in which the Separation Date shall have occurred, at target performance under the PPP and prorated by the number of months which have passed since the beginning of the performance period until the Separation Date.

Appears in 1 contract

Sources: Change in Control Agreement (Southern Co)

Performance Pay Program. The provisions of this Section 2.2(e) shall apply to the Performance Pay Program under the Omnibus Plan, the defined terms of which are incorporated in this Section 2.2(e) by reference. Provided Mr. Garrett is not entitled to a Cash-Based Award under th▇ ▇the P▇▇, ▇▇ ▇he ▇▇ PPP is in place as of Mr. Garrett's Separation Date and to the extent Mr. Garret▇ ▇Garrett i▇ ▇▇▇▇▇▇▇d to ▇ ▇▇ participate therein, Mr. Ga▇Garrett s▇▇▇▇ ▇▇▇▇l be entitled itled to receive cash in an amount e▇eq▇▇▇ ▇▇ ▇ prorated ▇▇orated payout of his Cash-Based Award under the PPP for the performance period in which the Separation Date shall have occurred, at target performance under the PPP and prorated by the number of months which have passed since the beginning of the performance period until the Separation Date.

Appears in 1 contract

Sources: Change in Control Agreement (Alabama Power Co)