Actual Payout definition

Actual Payout means the amount actually paid out to a Participant under this Program on the Payment Date, rather than any potential or target amount available under the Program.
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Examples of Actual Payout in a sentence

  • If, prior to June 30, 2003, your employment with Delta terminates for any reason other than Retirement, Disability or death, (i) the Target Award shall be forfeited at the time of such termination of employment; and (ii) you shall not receive an Actual Payout Award (as defined in Paragraph 6 of this Agreement).

  • Delta shall withhold from the Actual Payout Award, if any, a sufficient amount to cover any amounts which Delta is required to withhold to comply with requirements of federal, state, local or foreign tax laws, rules or regulations.

  • Unless the Committee determines otherwise, the Actual Payout Award shall be paid within 75 calendar days following the close of the applicable Measurement Period.

  • Delta shall satisfy this requirement (a) to the fullest extent possible by withholding from the cash portion, if any, of the Actual Payout Award; and (b) if any additional withholding is required or if you did not receive a cash payout, by withholding a sufficient number of shares of Stock (based on its fair market value as determined by the Committee) from the Actual Payout Award.

  • Upon the occurrence, prior to June 30, 2003, of a Change in Control (as defined in the Plan) while you are employed by Delta, the Actual Payout Award shall be the greater of (a) the Potential Payout Award for the applicable Measurement Period (as determined in accordance with Exhibit A of this Agreement) and (b) the Target Award, in each case prorated to reflect the proportion that the number of full months from July 1, 2000 through the date of the Change in Control bears to 36.

  • In these circumstances, the Actual Payout Award shall be paid promptly after the occurrence of the Change in Control in the form determined under Paragraph 7 of this Agreement.

  • The Actual Payout Award entitles you to a payout of shares of Stock determined in accordance with this Agreement.

Related to Actual Payout

  • Actual Payment means, with respect to a Receivable and a Collection Period, all payments received by the Servicer from or for the account of the related Obligor on such Receivable during such Collection Period, net of any Supplemental Servicing Fees attributable to such Receivable.

  • Actual emissions means the actual rate of emissions in tpy of any regulated pollutant (for fee calculation) emitted from a Part 71 source over the preceding calendar year. Actual emissions shall be calculated using each emissions unit’s actual operating hours, production rates, in-place control equipment, and types of materials processed, stored, or combusted during the preceding calendar year.

  • Actual/360 means that interest is calculated on the basis of the actual number of days elapsed in a year of 360 days.

  • Actual Deferral Percentage means, for a specified group of Participants for a Plan Year, the average of the ratios (calculated separately for each Participant in the group) of (1) the amount of Employer contributions actually paid over to the Trust on behalf of the Participant for the Plan Year to (2) the Participant's Earnings for the Plan Year (or, provided that the Employer applies this method to all Employees for a Plan Year, the Participant's Earnings for that portion of the Plan Year during which he was eligible to participate in the Plan). Employer contributions on behalf of any Participant shall include: (i) his Elective Deferrals, including Excess Elective Deferrals of Highly Compensated Employees, but excluding (A) Excess Elective Deferrals of Non-Highly Compensated Employees that arise solely from Elective Deferrals made under the Plan or another plan maintained by an Affiliated Employer, and (B) Elective Deferrals that are taken into account in the Average Contribution Percentage test described in Section 5.10 (provided the ADP test is satisfied both with and without exclusion of these Elective Deferrals), and excluding Elective Deferrals returned to a Participant to reduce an Excess Amount as defined in Section 6.5(f); and (ii) if the Employer has elected to make Qualified Nonelective Contributions, such amount of Qualified Nonelective Contributions, if any, as shall be necessary to enable the Plan to satisfy the ADP test and not used to satisfy the ACP test; and (iii) if the Employer has elected to make Qualified Matching Contributions, such amount of Qualified Matching Contributions, if any, as shall be necessary to enable the Plan to satisfy the ADP test and not used to satisfy the ACP test. For purposes of computing Actual Deferral Percentages, an Employee who would be a Participant but for his failure to make Elective Deferrals shall be treated as a Participant on whose behalf no Elective Deferrals are made.

  • actual carrier means a person, other than the contracting carrier, who, by virtue of authority from the contracting carrier, performs the whole or part of the carriage contemplated in paragraph (b) but who is not with respect to such part a successive carrier within the meaning of the Warsaw Convention. Such authority is presumed in the absence of proof to the contrary.