Performance Sharing Plan definition
Examples of Performance Sharing Plan in a sentence
Any compensation contributed on behalf of Employee under this Agreement shall not be considered "compensation," as the term is defined in The Southern Company Employee Savings Plan, The Southern Company Employee Stock Ownership Plan, The Southern Company Performance Sharing Plan or The Southern Company Pension Plan.
EMPLOYEE will be eligible for participation in EMPLOYER's Performance Sharing Plan, as in effect during the period of EMPLOYEE's employment.
As additional consideration for the covenant not to compete described above, should NIKE terminate EMPLOYEE’s employment and the Covenant Not To Compete is enforced, NIKE shall pay EMPLOYEE a monthly payment equal to one-twelfth (1/12) of EMPLOYEE’s then current Annual Nike Income (defined herein to mean base salary and annual Performance Sharing Plan bonus calculated at 100% of EMPLOYEE’s targeted rate) while the Restriction Period is in effect.
PSP," when immediately preceded by "Southern," means the Southern Performance Sharing Plan, a defined contribution plan.
When immediately preceded by "Southern Energy," "PSP" means the performance sharing plan, if any, to be established by Southern Energy pursuant to Sections 2.02 and 4.03 that corresponds to the Southern Performance Sharing Plan.
Any compensation paid on behalf of Employee under this Agreement shall not be considered "compensation," as the term is defined in The Southern Company Employee Savings Plan, The Southern Company Employee Stock Ownership Plan, The Southern Company Performance Sharing Plan or The Southern Company Pension Plan.
Example of Performance Sharing Plan: 2001 Performance ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇ Quarter Margin $0 $2000 $4000 $-1000 Assuming $4000 = 3% and 20 employees A $150 Performance Sharing Sum is paid for any quarter that exceeds 3% by the cost of the total payout and there is no loss to the program during any quarter for the 6-month half- year period.
EMPLOYEE will be eligible for participation in EMPLOYER's Performance Sharing Plan, as in effect during the period of EMPLOYEE's employment, together with such additional bonus eligibility as will create a bonus target of 50% of base salary.
As specified in the National Agreement, a Performance Sharing Plan will be developed and instituted with potential payouts in 2007, 2008, 2009, 2010, and 2011.
Executive will be _________________________ eligible to participate in Nike's incentive bonus Performance Sharing Plan (PSP) in accordance with the terms of the plan as follows: Executive will have an incentive bonus target of seventy percent (70%) of Executive's base pay received during the preceding fiscal year.