Payout Year definition

Payout Year means the calendar year in which the payout contemplated by Section 5.4 is made or commences.
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Payout Year shall refer to the year in which the payout of the lump sum occurs, which is the fiscal year that is immediately subsequent to the service year.
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Examples of Payout Year in a sentence

  • For eligible NSF who have an active bargaining unit appointment during the 2018-2019 Payout Year, the University shall provide a one-time, non-base building, non-UCRP eligible lump sum payment on June 1, 2019 for semester campuses and July 1, 2019 for quarter campuses.

  • Year 1 Year 2 Year 3 Adjusted EBITDAMargin Resulting Percentage Payout Adjusted EBITDAMargin Resulting Percentage Payout Adjusted EBITDAMargin Resulting Percentage Payout Year 1 Year 2 Year 3 Year 1 Year 2 Year 3 The number of PSUs subject to vesting upon achievement of the Outstanding Final Achievement Percentage for each year, constitutes the maximum number of PSUs that can be vested for that year, even if performance exceeds the Outstanding Final Achievement Percentage level.

  • For eligible NSF who have an active bargaining unit appointment during the 2017-2018 Payout Year, the University shall provide a lump sum payment on June 1, 2018 for semester campuses and July 1, 2018 for quarter campuses.

  • For eligible NSF who have an active bargaining unit appointment during the 2016-2017 Payout Year, the University shall provide a lump sum payment on June 1, 2017 for semester campuses and July 1, 2017 for quarter campuses.