Examples of Performance Award Amount in a sentence
All decisions relating to any Performance Award Amounts, including, without limitation, whether any Performance Award Amount will be granted to the Limited Partner for any particular fiscal year, and the amount of any such Performance Award Amount, if any, for such fiscal year, shall be determined in the sole discretion of the Compensation Committee of the Board of Directors of Och-Ziff (the "Compensation Committee") based on recommendations by Xxxxxx X.
Och, the Partner Management Committee), such determinations and recommendations to be based on any considerations they determine to be appropriate, including but not limited to, the amount of aggregate distributions by the Operating Partnerships made to the Limited Partner with respect to such fiscal year, and any such determination shall be final, provided that the maximum Performance Award Amount for 2015 shall be $1,500,000 and the maximum Performance Award Amount for 2016 shall be $2,000,000.
In order to be eligible for any portion of the Performance Award Amount in respect of any Fiscal Year, the Limited Partner shall not have ceased to be an Active Individual LP, in each case as of the applicable distribution date and must not have provided notice of the Limited Partner’s intention to become subject to a Withdrawal pursuant to clause (C) (Resignation) of Section 8.3(a)(i) of the Limited Partnership Agreement (a “Withdrawal due to Resignation”) on or before such date.
Any such recommendations or determinations to award a Performance Award Amount in respect of a fiscal year shall not create or imply any obligation to award a Performance Award Amount for any other fiscal year.
In no event may the Performance Award Amount with respect to any Performance Year during the Term exceed $5,000,000.
Each Performance Award granted pursuant to a Long-Term Cash Incentive Award Agreement (“Incentive Agreement”) shall decrease the Pool by a number of shares equal to the Award Amount (as defined in the Incentive Agreement) determined at target based on a 3.4 “Multiple of Money” (as defined in the Incentive Agreement) divided by 2.4 (the “Performance Award Amount”); provided that if the Performance Award is forfeited, the Pool shall be increased by such Performance Award Amount.
Subject to Section 2(c), any such determinations to award a Performance Award Amount in respect of a Fiscal Year shall not create or imply any obligation to award a Performance Award Amount for any other Fiscal Year.
Subject to Sections 2(c) and (d), any such determinations to award a Performance Award Amount in respect of a Fiscal Year shall not create or imply any obligation to award a Performance Award Amount for any other Fiscal Year.
Except to the extent otherwise provided in this Agreement, the Company shall pay Xxxxxxxxx in cash the Performance Award Amount within five (5) days after the Committee’s certification for each goal in accordance with Section 3 following the end of each Performance Year.
For each Eligible Performance Award, a Participant may elect to defer the following minimum percentage of a Performance Award Amount: If an election is made for less than the stated minimum percentage, or if no election is made, the amount deferred shall be zero.