Performance Based Income definition

Performance Based Income means, for each Performance Period, the consolidated net income of the Company and its subsidiaries, as reported in the Company’s Consolidated Statement of Operations for such Performance Period, as adjusted by the Committee in its sole discretion to take into account such specified objective factors that may impact the Company’s business generally, or the business of any of the Company’s consolidated subsidiaries, as the Committee in the exercise of its judgment deems reasonable and appropriate to exclude or include in the computation of consolidated net income, including, without limitation, realized and unrealized gains and losses, the impact of accounting changes, the impact of acquisitions and dispositions of a business or asset, charges relating to the disposition by judgment or settlement of material litigation, charges relating to reserve strengthening and adverse dividend or premium development associated with prior accident years, the impact of catastrophes and other extraordinary items and events, and the impact of changes in legislation or regulation.
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Examples of Performance Based Income in a sentence

  • For 2005, the Executive will be eligible to receive an Annual Bonus under the 2005 Coffeyville Resources, LLC and Affiliated Companies Performance Based Income Sharing Plan (the “2005 Plan”) with appropriate adjustments to the performance criteria thereunder to reflect the impact, if any, of the transactions contemplated in the Stock Purchase Agreement.

  • Following the completion of each Performance Period, the Committee shall certify in writing (i) the amount, if any, of Performance Based Income for such Performance Period and (ii) the bonus awards that are consequently payable to the Participants according to the pre-established formulae.

  • In the event of a Multiple Award Period, prior to the end of the Designation Period for the first Performance Period in the Multiple Award Period the Committee shall designate a percentage of Performance Based Income for each of the subsequent Performance Periods in the Multiple Award Period.

  • To authorize the Warren County Public Defender’s Office to contract with outside counsel to mentor staff on cases for an hourly rate not to exceed $150 per hour.Motion was made by Mr. Driscoll, seconded by Ms. Shepler and carried unanimously to approve the request and the necessary resolution was authorized for the February 21st Board meeting.

  • Prior to the end of the Designation Period for a Performance Period, the Committee shall designate in writing a percentage of the Corporation's Performance Based Income (as defined below) for such Performance Period.

  • Prior to the end of the Designation Period for a Performance Period, the Committee shall allocate in writing, on behalf of each Participant, a percentage of Performance Based Income on which such Participant’s award will be based, and may, in its discretion, determine to reserve the discretion (“Negative Discretion”) to reduce the amount payable to the Participant below the designated percentage of Performance Based Income.

  • Prior to the end of the Designation Period for a Performance Period, the Committee shall designate in writing a percentage of the Corporation’s Performance Based Income (as defined below) for such Performance Period.

  • On the other hand, Performance Based Income should not be increased just because of a low level of catastrophes in any year.

  • The following documents are to be published with and form part of the report: Appendix A: Royal Tunbridge Wells Together Initiatives/Projects Appendix B: Business Improvement District Factsheet Appendix C: Proposed BID area map Appendix D: BID Financial Information – To Follow (previously published as Exempt Appendix A for Communities CAB.

  • The other 2 do not send anything backThe 18 that send back are against.

Related to Performance Based Income

  • Performance-Based Award means any Restricted Stock Award, Restricted Stock Units, Performance Share Award or Cash-Based Award granted to a Covered Employee that is intended to qualify as “performance-based compensation” under Section 162(m) of the Code and the regulations promulgated thereunder.

  • Performance-based contracting means the structuring of all

  • Incentive-Based Compensation means any compensation that is granted, earned or vested based wholly or in part upon the attainment of a Financial Reporting Measure.

  • share-based award means an award under an equity incentive plan of equity-based instruments that do not have option-like features, including, for greater certainty, common shares, restricted shares, restricted share units, deferred share units, phantom shares, phantom share units, common share equivalent units, and stock.

  • Cash-Based Award means an Award entitling the recipient to receive a cash-denominated payment.

  • Other Equity-Based Award means an Award that is not an Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, or Performance Share Award that is granted under Section 10 and is payable by delivery of Common Stock and/or which is measured by reference to the value of Common Stock.

  • Performance Awards means Performance Units, Performance Shares or either or both of them.

  • Performance Objectives means the performance objective or objectives established by the Committee pursuant to the Plan. Any Performance Objectives may relate to the performance of the Company or one or more of its Subsidiaries, divisions, departments, units, functions, partnerships, joint ventures or minority investments, product lines or products, or the performance of the individual Participant, and may include, without limitation, the Performance Objectives set forth in Section 13(b). The Performance Objectives may be made relative to the performance of a group of comparable companies, or published or special index that the Committee, in its sole discretion, deems appropriate, or the Company may select Performance Objectives as compared to various stock market indices. Performance Objectives may be stated as a combination of the listed factors.

  • Performance Award Formula means, for any Performance Award, a formula or table established by the Committee pursuant to Section 10.3 which provides the basis for computing the value of a Performance Award at one or more levels of attainment of the applicable Performance Goal(s) measured as of the end of the applicable Performance Period.

  • Performance Award means any right granted under Section 6(d) of the Plan.

  • Other Share-Based Award means a right, granted under Section 5(h), that relates to or is valued by reference to Shares.

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