QPB definition
Examples of QPB in a sentence
Finally, the parties acknowledge that under Intel’s Rule of 75 retirement benefit, you would likewise be eligible for a pro rata payout of your 2017 APB and QPB bonuses based on the date you retire from the Company regardless of whether you sign and do not revoke this Agreement.
Executive’s participation in the QPB Plan shall be according to the terms and conditions of the QPB Plan, including any offsets applicable to bonus amounts earned under the LBP.
It is understood and agreed that the QPB Plan or any similar cash incentive compensation plan may be amended, suspended or terminated by State Auto at any time.
Said pro rata share of any bonus due under the QPB Plan shall be determined by dividing a numerator equal to the number of whole months that have elapsed in the calendar quarter on the date of the Executive’s death, divided by a denominator of three.
The Separation Payment will be paid within two payroll periods following the expiration of the Revocation Period, and your APB and QPB bonuses will be paid in accordance with the terms of the underlying plans; provided that in no event will any such payments be made later than March 15, 2018.
In addition to any compensation otherwise payable pursuant to the Executive’s Incentive Bonus Arrangement and the bonus payable under the Corporation’s Quality Performance Bonus Plan (“QPB”), a lump sum cash amount equal to the Executive’s Highest Incentive Bonus and the total QPB paid to Executive during the calendar year immediately preceding the Change Year, multiplied by 3.
The Companies have made available to the Purchaser all the information reasonably available to the Companies that the Purchaser has requested for deciding whether to acquire the Primary Shares and Secondary Shares, including certain of the Company’s projections describing its proposed business plan (the “Business Plan”).
In addition, Executive shall be entitled to receive a one-year bonus payment equal to the average of the annual aggregate bonus under the QPB Plan (or its successor) earned by the Executive for each of the two calendar years immediately preceding the calendar year in which the nonrenewal occurs, plus the average of the amount earned under the LBP and the LTIP in place for each of the two calendar years immediately preceding the calendar year in which the nonrenewal occurs.
Said pro rata share of any bonus due under the QPB Plan shall be determined by dividing a numerator equal to the number of whole months that have elapsed in the calendar quarter on the date of Executive’s death, divided by a denominator of three.
It is understood and agreed that as respects the LBP, the QPB Plan, and the LTIP, Executive is required to be employed by State Auto on the date such amount is paid, if he had in fact earned such bonus under the terms of the LBP, the QPB Plan, and the LTIP, unless the terms of the LBP, the QPB Plan and the LTIP provide otherwise.