Payout Limit definition
Examples of Payout Limit in a sentence
Any Earned Performance Share Units resulting from dividends or distributions do not count toward the Payout Limit.
In no event shall the total dollar value of the Earned Performance Share Units as of earlier of (i) the Vesting Date, (ii) the date of a Change in Control described in Section 3(a)(iv), (iii) the date of a termination of employment due to death or Permanent Disability, and (iv) the date of a termination of employment on or within two years after a Change in Control described in Section 3(a)(v) exceed the Payout Limit (as set forth on the signature page of this Agreement).
With two (2) weeks’ notice upon separation from City employment, non-probationary employees shall be paid for unused vacation leave accruals based on the employee’s current rate of pay at the time of separation from service, up to the specified Vacation Hours Payout Limit based on years of service, as indicated in the above tables.
With two (2) weeks’ notice upon separation from City employment, non-probationary employees shall be paid for accrued, unused vacation leave based on the employee’s current rate of pay at the time of separation from service, up to the specified Vacation Hours Payout Limit based on years of service, as indicated in the above table.
Where Merchant utilizes the Payout service (in particular), Merchant shall at all times ensure that there is sufficient credit balance in the Payout Limit and that the payment details and instructions are accurate.