FOURTH OPTION definition

FOURTH OPTION. If no such employee exists pursuant to Option 4, replace the least senior employee in successive lower classifications having different but most nearly equivalent employment status and hours per year, provided the employee has greater seniority and the abilities and qualifications to perform the duties of the job position. (Successive lower classifications with most like hours).

FOURTH OPTION. Interest The Company will hold the proceeds at interest during the life of the Payee or for any other period agreed to by the Company. Interest on the proceeds: . Will be paid each month to the Payee starting one month after the Option Date; or . Will be added to the principal amount each year and will earn interest. At the death of the Payee, or at the end of the period agreed to, the balance of principal and any accrued interest will be paid in one sum. The rate of interest will be set each year by the Company; but the rate will not be less than 3 1/2% per year.

FOURTH OPTION has the meaning given such term in the Option Agreement.

Examples of FOURTH OPTION in a sentence

• US$700,000 to the Optionor on or before the 12 month anniversary of the date of payment of the Fourth Option Exercise Payment to earn an additional 10% interest (for a total of 90%) (the “Fifth Earn-in Option”).The Optionor can elect to receive any of the Option Payments, in lieu of the respective cash amounts, in units of the Company.

• The table for the Fourth Option is based on an interest rate of 5% per annum.

• The table for the Fourth Option is based on an interest rate of 3% per annum.

• For qualified Contracts, the Cash Value will be applied to the Fourth Option, to provide a Joint and Last Survivor Life Annuity.

• A significant objection to average-cost analysis arises from the fact that although cost figures for new development can be calculated using the average-cost approach, revenue streams resulting from major growth are calculated marginally.

• Please note: that if you are choosing A-Level maths you cannot choose Core Maths as your Fourth Option.

• Ehrlich, The Fourth Option of Section 521(2)(a) – Reaffirmation Agreements and the Chapter 7 Consumer Debtor, 53 MERCER L.

• Each of the First Option, Second Option, Third Option, and Fourth Option (together, the “Options”) are governed by the Parent’s relevant equity plan and/or award agreement, unless specifically stated otherwise in this Agreement.

• This grant is in satisfaction of the Company’s obligation to the Participant with respect to the Fourth Option Award provided for in the Executive Compensation Agreement by and between the Company and the Participant entered into as of March 10, 2015, effective as of January 1, 2015, as amended by Amendment No. 1 to Executive Compensation Agreement dated December 30, 2015 and by Amendment No. 2 to Executive Compensation Agreement dated March 10, 2017 (“Executive Compensation Agreement”).

• Subject to WAG consent being received:• The current Fourth Option arrangements will continue until AGM on 19th May 2010, whereafter the Leader and Cabinet Executive Model will be implemented.

More Definitions of FOURTH OPTION

FOURTH OPTION. INTEREST The Company will hold the proceeds at interest during the life of the Payee or for any other period agreed to by the Company. Interest on the proceeds: . Will be paid each month to the Payee starting one month after the Option Date; or . Will be added to the principal amount each year and will earn interest. At the death of the Payee, or at the end of the period agreed to, the balance of principal and any accrued interest will be paid in one sum. The rate of interest will be set each year by the Company; but the rate will not be less than 3 1/2% per year. FIFTH OPTION: SPECIFIED AMOUNT OF INCOME The Company will make monthly payments which will include both principal and interest. Payments will be in the amount chosen. Payments can be quarterly or at any other frequency chosen, and payments can be for different amounts, all subject to the consent of the Company. Payments will start on the Option Date and will continue until the balance is fully paid out. At the death of the Payee any unpaid balance and accrued interest will be paid in one sum. The rate of interest will be set each year by the Company; but the rate will not be less than 3 1/2% per year. Interest will be added each year to the principal and will earn interest. SIXTH OPTION: LIFE INCOME FOR TWO LIVES The Company will make monthly payments. Payments will start on the Option Date and will continue: . While either of two Payees is living, called "Joint and Survivor Life Income"; or . While either of two Payees is living, but for at least 10 years, called "Joint and Survivor Life Income, 10 Years Certain"; or . While two Payees are living, and after the death of one Payee, two-thirds of the monthly amount while the other Payee is living, called "Joint and 2/3 to Survivor Life Income". NEV-14-E

FOURTH OPTION. If no such employee exists pursuant to Option 4, replace the least senior employee in successive lower classifications having different but most nearly equivalent employment status and hours per year, provided the employee has greater seniority and the abilities and qualifications to perform the duties of the job position. (Successive lower classifications with most like hours) Subd 3. Employees so notified of their options shall reply in writing to the Director of Human Resources within 7 calendar days of receiving such notice, therein notifying the School Board of their intent to elect of one of their described options. Such reply may be in the form of e- mail. Failure to provide such timely written notice shall constitute a resignation on the part of the employee.

FOURTH OPTION is defined in Section 8(a).