LTIP Payout definition

LTIP Payout means any long-term incentive award paid to a Participant under the LTIP relating to services performed during any performance period, whether paid or not paid during such performance period or included on the Federal Income Tax Form W-2 during such performance period.
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LTIP Payout. A Participant may cash out his or her LTIP Award at any time, based on the vested portion of the Pool at such time. However, by cashing out the LTIP Award, he/she will forfeit all rights to any subsequent LTIP accruals. A participant who cashes in his or her LTIP accrual will also forfeit the SAR feature described below. - Generally, a Participant may not cash out a fractional portion of his or her Award. However, such fractional distributions may be permitted (at the sole discretion of the C*ATS Board) in the case of a Participant's demonstrated hardship and in such circumstances subsequent LTIP accruals will not be forfeited. - All LTIP Payouts will include 5% simple interest from June 1, 1999 through the applicable payment date. Within 14 days following the determination of the final vested portion of the LTIP Pool after Year 3, all accrued interest will be paid out in cash. Thereafter, interest on LTIP Awards will continue to be paid on each November 30 and May 31 so long as the Participant continues to hold his Award. - If not previously paid out (either directly, or upon exercise of the SAR described below), all LTIP Awards (including any unpaid interest) will be paid on October 31, 2004.
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Examples of LTIP Payout in a sentence

  • No later than the March 1st immediately following the Vesting Date the Committee shall certify in writing (which may consist of approved minutes of a Committee meeting) the LTIP Payout payable to the Employee.

  • If the Employee is or will be eligible for Retirement before , and the Employee has a Termination of Employment other than as a result of death or Total Disability before , the Employee’s deferral election shall operate as a waiver of any right to an LTIP Payout.

  • The amount of the Deferred Payout shall be equal to the dollar amount of the deferred portion of the LTIP Payout multiplied by the Deferred BVG Multiple (as defined below).

  • For the avoidance of doubt, with respect to the LTIP Payout and the Pro-Rata Future LTIP Payout, the terms of this Agreement shall apply notwithstanding anything to the contrary in the applicable LTIP Award agreement.

  • Subject to the foregoing, the Severance Payments will be paid to the Executive as set forth in Sections 3.2(b)(i), (ii), (iii) and (iv), as applicable; provided that the LTIP Payout shall be paid at the time provided in the applicable award agreement, provided, further that the LTIP Payout shall not be payable to the Executive at any time prior to the earlier of (x) the expiration of the six (6) month-period following the Executive’s separation from service, and (y) the Executive’s death.

  • Subject to applicable tax withholding, the LTIP Payout so certified shall be paid to the Employee as soon as practicable following such certification; provided, however, that with respect to any portion of the LTIP Payout that the Employee has elected to defer pursuant to Section 5 below, applicable FICA tax shall be withheld from the non-deferred portion of the LTIP Payout and the full amount elected for deferral shall be paid in accordance with the provisions of Section 5.

  • As soon as practicable following the completion of the audit of the Company’s consolidated financial statements for the last year of the Performance Period, the Company shall calculate the Payout Factor and the corresponding LTIP Payout payable to the Employee based on the Payout Factor, and shall submit these calculations to the Committee.

  • Subject to applicable income tax withholding, the deferred portion of the LTIP Payout, as adjusted in accordance with Section 5.3 (the “Deferred Payout”), shall be paid in a single lump sum on a date determined by the Company that is within 90 days after the Deferred Payout Date (as defined below).

  • At any time on or prior to , the Employee may elect in writing, on a form supplied by the Company, to defer payment of 25% of the LTIP Payout under the terms of this Section 5.

  • Notwithstanding anything to the contrary in this Agreement, the Committee may, in its sole discretion, reduce the calculated LTIP Payout by up to 50% based on circumstances relating to the performance of the Company or the Employee.

Related to LTIP Payout

  • Payout means that time at which cash distributions have been made by the Limited Partnership to the Unit Holders (together with their predecessors in interest) pursuant to Section 5.1 of the Limited Partnership Agreement (together with any distributions to such Unit Holders pursuant to Section 3.3 of the Limited Partnership Agreement), in an aggregate amount equal to the Unit Holders' Subscriptions to the Limited Partnership.

  • LTIP Award means each or any, as the context requires, LTIP Award issued under any Equity Incentive Plan.

  • Long-Term Incentive Award means an Award described in Section 6(g) hereof that is based upon a period in excess of one year.

  • Performance Period means the one or more periods of time, as the Committee may select, over which the attainment of one or more Performance Goals will be measured for the purpose of determining a Participant’s right to, and the payment of, a Performance Compensation Award.

  • Performance Cash Award means an award of cash granted pursuant to the terms and conditions of Section 6(c)(ii).