Management Incentive Payment definition

Management Incentive Payment incentive payments made to senior management of the Group in addition to usual base salary amounts, consulting fees and/or bonuses;

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Management Incentive Payment means the aggregate amount to be paid to Management pursuant to the Management Incentive Compensation Program less the Management Escrow Amount.

Management Incentive Payment means the transfer by the ▇▇▇▇▇ Members to any member of the Holdings Management Team of economic, non-voting Equity Interests of Holdings not to exceed in the aggregate for all members of the Holdings Management Team (a) 200,000 Class A-1 units of Holdings, (b) 1,000,000 Class A-2 units of Holdings and (c) 300,000 Class A-3 units of Holdings.

Examples of Management Incentive Payment in a sentence

• No payment will be made if a relevant employee ceases to be employed as a result of a voluntary resignation (other than in the case of established constructive dismissal) or is dismissed for misconduct or gross misconduct, in each case before a tranche of the Management Incentive Payment is to be paid.

• The first payment will represent 50% of the Management Incentive Payment and will be paid on the date falling six months after the Effective Time.

• The amount of the Management Incentive Payment and the employees to whom it is to be made have been agreed and are as Disclosed.

• A relevant employee will be entitled to the Management Incentive Payment if he or she is made redundant or ceases to be employed on account of ill health, retirement or death.

• The balance of the Management Incentive Payment will be paid on the date falling 12 months after the Effective Time.

• The Management Incentive Payment due to each employee as Disclosed will be paid in two tranches through the Dalata payroll system.

More Definitions of Management Incentive Payment

Management Incentive Payment has the meaning given in paragraph 2.3.1 of Schedule 3; Notice Period has the meaning given to that term in clause 5.2.6; Pre-contractual Statement has the meaning given to that term in clause 10.7.1; Proposer has the meaning given to that term in clause 5.2.3(a); Relevant Individual(s) has the meaning given to that term in clause 11.4.1(a);

Management Incentive Payment means the management and senior executive incentive arrangement described in paragraph 14 of this Announcement, the payment of which is subject to the passing of the Management Incentive Resolution;