Covered Award definition

Covered Award means an Award, other than an Option or other Award with an exercise price per Share not less than the Fair Market Value of a Share on the date of grant of such Award, to a Covered Employee, if it is designated as such by the Committee at the time it is granted. Covered Awards are subject to the provisions of Section 13 of this Plan.

Covered Award shall refer to:

Covered Award means an Award to a Covered Participant which is intended to qualify as “performance-based compensation” within the meaning of Section 162(m) of the Code.

Examples of Covered Award in a sentence

• Whenever a payment under a Section 409A Covered Award specifies a payment period with reference to a number of days, the actual date of payment within the specified period shall be within the sole discretion of the Company.

• Whenever a payment under a 409A Covered Award specifies a payment period with reference to a number of days, the actual date of payment within the specified period shall be within the sole discretion of the Company.

• If under the Section 409A Covered Award an amount is to be paid in two or more installments, for purposes of Code Section 409A, each installment shall be treated as a separate payment.

• A termination of employment shall not be deemed to have occurred for purposes of any provision of a 409A Covered Award providing for payment upon or following a termination of the Participant’s employment unless such termination is also a “Separation from Service” within the meaning of Code Section 409A and, for purposes of any such provision of the 409A Covered Award, references to a “termination,” “termination of employment” or like terms shall mean Separation from Service.

• If under the Section 409A Covered Award an amount is to be paid in two or more installments, for purposes of Section 409A of the Code, each installment shall be treated as a separate payment.

More Definitions of Covered Award

Covered Award means any Award granted under the Plan on or after December 18, 2005.

Covered Award means any Award granted under the Plan on or after November 28, 2005.

Covered Award means an Award made to a Covered Employee that is intended to meet the requirements of “qualified performance-based compensation” under Section 162(m) of the Code.

Covered Award means an Award (i) that will be paid to a Covered Employee, (ii) that the Committee expressly designates as performance-based compensation and intends to be fully deductible under Section 162(m) and (iii) that will be paid following the shareholder approval required by‌

Covered Award means any of the following awards that are granted by the Company under its current incentive plan, or any similar incentive plan adopted by the Company in the future: (1) a stock option or stock appreciation right that is vested and unexercised at the time of (or that vests in connection with) the holder’s death, (2) a restricted stock award to the extent that it had not vested prior to the time of the holder’s death and to the extent that the underlying stock is held by the Company for the benefit of the holder (or held in book entry form by a Company recordkeeper for the holder’s benefit) if and when the stock vests, (3) a performance stock award or other type of performance based award to the extent that it had not been earned and paid prior to the time of the holder’s death, and (4) any similar award that had not been exercised or paid, as applicable, prior to the time of the holder’s death. Notwithstanding the foregoing, a Covered Award does not include: (1) any portion of such an award the payment of which has actually been deferred at the election of the holder under a Company deferral program, (2) any portion of a stock option that was exercised by the holder prior to his or her death, (3) restricted stock that vested prior to the time of the holder’s death, (4) vested stock or cash payments that had been delivered or made, as the case may be, to the holder prior to the time of his or her death, and (5) any other award that the Company determines and announces is not covered by this designation.

Covered Award means an Award (i) that will be paid to a Covered Employee, (ii) that the Committee expressly designates as performance-based compensation and intends to be fully deductible under Section 162(m) of the Code, and (iii) that will be paid following the shareholder approval required by Section 162(m)(4)(C)(ii) of the Code.

Covered Award means an award that is intended to qualify as "qualified performance-based compensation" as defined in the regulations promulgated under Code Section 162(m), or any successor statute. Any award under the EIP may be designated by the Plan Administrator as a Covered Award at the time