Examples of Prorated Award in a sentence
Such Pro-rated Award will be paid at the same time and in the same manner as Awards are paid to other Participants.
Payment of such Pro-rated Award will be made at the same time and in the same manner as Awards are paid to other Participants.
A newly hired or newly eligible Participant will be eligible to receive a Pro-rated Award reflecting participation for a portion of the Performance Period.
A newly hired or newly eligible Participant will be eligible to receive a Pro-rated Award.
If a Participant is on a leave of absence for a portion of a Performance Period, the Participant will be eligible to receive a Pro-rated Award reflecting participation for the period during which he or she was actively employed and not any period when he or she was on leave.
If a Change in Control occurs during a Performance Period, subject to the terms of any Company plan or a Participant’s employment agreement, change in control agreement, severance agreement or similar agreement, as applicable, the Committee may, but is not required to, provide for a Participant to be paid a Pro-rated Award based on actual or target performance, as determined by the Committee.
An Employee who becomes eligible for participation in the Plan due to initial employment, transfer, or promotion during the Plan Year will be eligible to receive a Prorated Award based upon the Participant's Target Incentive at the time of induction.
A Plan Participant who is not an Employee on the last day of the Plan Year as a direct result of Retirement, Disability, or death (in which case the rights would pass to the Participant's beneficiary), will be eligible to receive a Prorated Award.
However, the Committee, in its sole discretion, may pay a Pro-rated Award, subject to the Committee’s certification that the Performance Targets for the Performance Period have been met.
If a Participant is on a leave of absence, including due to disability, for a portion of a Performance Period, the Participant will be eligible to receive a Pro-rated Award reflecting participation for the period during which he or she was actively employed and not any period when he or she was on leave.