Potential Award definition

Potential Award means with respect to each Participant for the Plan Year a dollar amount determined by multiplying the individual’s salary by a percentage designed by the Compensation Committee. The Potential Award represents the Incentive Award payable to the Participant in the event that Corporate and Participant’s personal objectives are achieved for the Plan Year. In the event that no personal objectives are established for a Plan Year, the Potential Award represents the Incentive Award payable to the Participant in the event that all of the Corporate Objectives established at the beginning of the Plan Year are fully achieved for the Plan Year.

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Potential Award means an Award which is potentially payable to a Participant, the terms of which are established by the Committee as of the Determination Date for a Plan Year. The terms of a Potential Award can relate to that Plan Year, or a series of Plan Years, and can be exclusively performance-based, with Performance Goals, or can involve a combination of performance-based criteria and individual performance assessments, as the Committee, in its sole discretion, may determine. The Committee shall have the power to impose any restrictions on Potential Awards subject to this Plan as it may deem necessary or appropriate to ensure that an Award under this Plan, to the extent applicable, satisfies all the requirements for “performance-based compensation” within the meaning of Section 162(m) of the Code, the regulations thereunder, and any successors thereto.

Potential Award means an Award which is potentially payable to a Participant, the terms of which are approved by the Committee for a Plan Year. The terms of a Potential Award shall relate to that Plan Year and can be exclusively performance-based, with Performance Goals, or can involve a combination of performance-based criteria and individual performance assessments, as the Committee, in its sole discretion, may determine.

Examples of Potential Award in a sentence

You shall have no right to assign any interest you might have in all or any part of the Target Award or Potential Award which has been granted to you under this Award Agreement and any attempt to do so shall be null and void and shall have no force or effect whatsoever.
If you terminate employment during the Performance Period but are eligible to receive a portion of your Potential Award as a result of an exception under Section 5.1(b), payment of such portion of your Potential Award shall be in full satisfaction of all rights you have under this Award Agreement.
If you are eligible to receive all, or a portion of, your Potential Award under Section 5.1, up to $10,000,000 of your Potential Award shall be fully vested on the date on which the Committee certifies in writing that your Target Award has become a Potential Award for the Performance Period.
This portion of your award shall be known as the “Payable Portion” of your Potential Award.
As a condition to being eligible to receive a portion of your Potential Award as a result of your layoff in accordance with Section 5.1(b)(2), you will be required to execute and deliver to the Corporation a general release of claims against the Corporation in a form acceptable to the Corporation within the time period specified by the Corporation in such release and not revoke such release within any revocation period provided for therein.
Subject to any deferral election under Section 5.2(c), in the event of your death, the Payable Portion of your Potential Award will be made to your Beneficiary.
The Total Stockholder Return Performance Factor, the ROIC Performance Factor, and the Free Cash Flow Performance Factor shall be weighted as follows in determining the weighted average of the three performance factors: Total Stockholder Return Performance Factor 50% ROIC Performance Factor 25% Free Cash Flow Performance Factor 25% You must (except as specified in Section 5) remain employed by the Corporation through the last day of the Performance Period to receive your Potential Award.
The portion of your Potential Award payable to you following a termination of employment during the Performance Period under circumstances described in Section 5.1(b) shall be paid to you or, in the event of your death, to your Beneficiary, at the time specified in Section 5.2(a) (subject to Section 5.2(c)).
If the conditions referenced in subclause (a), above, are met for fiscal year 2009, and yet if less than all the Potential Award is actually awarded (because the Adjusted EBITDA for fiscal 2009 is less than $4,000,000), then the as-yet unawarded balance of the Potential Award may still be awarded with respect to fiscal year 2010 if all the conditions in subclause (a) are in fact also met with respect to 2010.
If you terminate employment during the Performance Period but are eligible to receive a portion of your Potential Award as a result of an exception under this Section 5.1(b), payment of such portion of your Potential Award shall be in full satisfaction of all rights you have under this Award Agreement.

More Definitions of Potential Award

Potential Award means an Award which is potentially payable to a Participant, the terms of which are established by the Committee as of the Determination Date for a Program Year. The terms of a Potential Award relate to that Program Year and can be exclusively performance-based, with Performance Goals, or can involve a combination of performance-based criteria and individual performance-based assessments, as the Committee, in its sole discretion, may determine.

Potential Award means with respect to each Participant for the Plan Year a dollar amount determined by multiplying the mid-point level for his salary grade as of the first day of the Plan Year by a percentage designated by the Board prior to the first day of the Plan Year. The Potential Award represents the Incentive Award payable to the Participant in the event the Maximum ROAA and all of the Participant’s Personal Objectives are fully achieved for the Plan Year.

Potential Award means the aggregate percent, based upon achievement of designated annual corporate objectives, which will determine the range of Award Payments which may be earned by each Participant.

Potential Award. – initially means with respect to each Participant for the Plan Year a dollar amount determined by multiplying the mid-point of the base salary range for the individual’s job by a percentage designated by the Compensation Committee. The Potential Award represents the Incentive Award payable to the Participant if the Bank fully achieves its Pre-Tax, Pre-Incentive Net Income objective for the Plan Year. If the Bank fails to achieve 100% of its Pre-Tax, Pre-Incentive Net Income objective for the Plan Year, but does achieve more than a Base amount of Pre-Tax, Pre-Incentive Net Income objective for the Plan Year, the Potential Award is prorated by the percent of the Bank’s achievement of its Pre-Tax, Pre-Incentive Net Income objective range for the Plan Year. After adjusting for the Bank’s achievement of its Pre-Tax, Pre-Incentive Net Income objective for the Plan Year, the adjusted Potential Award represents the Incentive Award payable to the Participant in the event that all of the Participant’s personal and/or team objectives are fully achieved for the Plan Year.