RRP/ESOP Annual Award definition

RRP/ESOP Annual Award means the product of (1) Total Deferred Compensation as of September 30 of the year preceding the year of calculation multiplied by (2) Return on Equity for the year preceding the year of calculation. For the period from October 1, 2009- September 30, 2010, “RRP/ESOP Annual Award” shall mean the product of (1) the Earned Award at October 1, 2009 multiplied by (2) the Return on Equity for the year ended September 30, 2009.
RRP/ESOP Annual Award means the product of (1) Total Deferred Compensation as of September 30 of the year preceding the year of calculation multiplied by (2) Return on Equity for the year preceding the year of calculation. For the period from April 1 - September 30, 2001, “RRP/ESOP Annual Award” shall mean the product of (1) the Earned Award at April 1, 2001 multiplied by (2) 2.62%.

Examples of RRP/ESOP Annual Award in a sentence

  • The Total Deferred Compensation Account shall be adjusted annually on the Calculation Date to reflect increases to the Earned Award due to Seniority and the addition or subtraction of the RRP/ESOP Annual Award and the SOP Annual Award.

  • This amount shall include increases to the Earned Award due to changes in the Seniority Factor since the prior Calculation Date and a pro rata amount calculated on a monthly basis of the Participant’s RRP/ESOP Annual Award and SOP Annual Award for the Fiscal Year in which Termination of Employment occurs.

  • However, if a Senior Officer is requested by the Board to continue performing services for the Bank as a Senior Officer beyond his or her Normal Retirement Age (“Continued Service”), he or she shall be entitled to an RRP/ESOP Annual Award and SOP Annual Award for each year of Continued Service, the value of which RRP/ESOP Annual Award and SOP Annual Award shall be pro-rated for the number of days in the Bank’s employment during a Fiscal Year.

  • This amount will include a pro rata amount of the RRP/ESOP Annual Award and SOP Annual Award for the Fiscal Year in which Change of Control occurs plus any increases to the Earned Award due to changes in the Seniority Factor since the prior Calculation Date.

  • Each Fiscal Year on the Calculation Date, the Total Deferred Compensation Account of each Participant shall be credited or debited with the Participant’s RRP/ESOP Annual Award and SOP Annual Award for that Fiscal Year.

  • A Member desiring to bring any business before a meeting shall give at least 30 days' notice in writing of that business to the Club which shall include that business in a notice calling the next General Meeting after the receipt of the notice.

  • Each Fiscal Year on the Calculation Date, the Total Deferred Compensation Account of each Participant shall be credited with the Participant’s RRP/ESOP Annual Award and SOP Annual Award for that Fiscal Year.

  • The Earned Award component and the RRP/ESOP Annual Award component of each Participant’s Total Deferred Compensation Account shall continue to operate as provided herein until actual Recognition and Retention Plan shares of publicly-traded stock (“Actual RRP Stock”) and actual Employee Stock Ownership Plan shares of publicly-traded stock (“Actual ESOP Stock”) are awarded to, or are legally released to, and vest with a Participant.

Related to RRP/ESOP Annual Award

  • Annual Award means the cash payment paid or payable to the Executive with respect to a fiscal year under the Corporation's Incentive Compensation Performance Plan.

  • Average Annual Bonus means the average of the annual bonuses (if any) from the Company earned by the Executive with respect to the Bonus Fiscal Years during all or any portion of which the Executive was employed by the Company; and, provided, further, that, if the Executive was not employed by the Company during all or any portion of any of the Bonus Fiscal Years, “Average Annual Bonus” means zero.

  • Average Annual Compensation shall be an amount equal to the annual average of the sums of (x) the Executive’s annual Base Salary from the Company plus (y) the amount of Incentive Awards accrued by TNS for the Executive, in each case for the three calendar years that ended immediately before (or, if applicable, coincident with) the Change in Control Date;

  • Target Annual Bonus has the meaning set forth in Subsection 3b.

  • Current Annual Compensation means the greater of:

  • Annual Deferral Amount means that portion of a Participant's Base Annual Salary and Annual Bonus that a Participant elects to have, and is deferred, in accordance with Article 3, for any one Plan Year. In the event of a Participant's Retirement, Disability (if deferrals cease in accordance with Section 8.1), death or a Termination of Employment prior to the end of a Plan Year, such year's Annual Deferral Amount shall be the actual amount withheld prior to such event.

  • Plan Year means the calendar year.

  • Performance Year means the calendar year prior to the year in which an Annual Award is made by the Committee.

  • Award Year means a fiscal year beginning January 1 and ending December 31 with respect to which an Award may be granted.

  • Bonus means the bonus described in the Section 2.3.

  • Cash Bonus means an award of a bonus payable in cash pursuant to Section 10 hereof.

  • Pro-rata Annual Bonus means the amount of Annual Bonus, multiplied by a fraction, the numerator of which is the number of days in such year during which the Executive was actually employed by the Company (or its predecessor) and the denominator of which is 365.

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

  • Bonus Deferral means the amount of a Participant’s Bonus Compensation which the Participant elects to have withheld on a pre-tax basis from his Bonus Compensation and credited to his account pursuant to Section 4.1.

  • Incentive Pay means an annual amount equal to the aggregate annual bonus, in addition to Base Pay, made or to be made in regard to services rendered in any calendar year or performance period pursuant to any bonus plan of the Company.

  • Average Incentive Compensation means the average of the annual incentive compensation under Subparagraph 3(a) received by Executive for the three (3) immediately preceding fiscal years or such fewer number of complete fiscal years as Executive may have been employed by the Company. In no event shall “Average Incentive Compensation” include any sign-on bonus, retention bonus or any other special bonus. Notwithstanding the foregoing, if the Executive breaches any of the provisions contained in Paragraphs 4 and 5 of this Agreement, all payments of the Severance Amount shall immediately cease. Notwithstanding the foregoing, in the event Executive terminates his employment for Good Reason as provided in Subparagraph 6(e), he shall be entitled to the Severance Amount only if he provides the Notice of Termination provided for in Subparagraph 6(f) within thirty (30) days after the occurrence of the event or events which constitute such Good Reason as specified in clauses (A), (B), (C), (D), (E) and (F) of Subparagraph 6(e);

  • Incentive Bonus means a bonus opportunity awarded under Section 9 pursuant to which a Participant may become entitled to receive an amount based on satisfaction of such performance criteria as are specified in the Award Agreement.

  • Deferral Year means each calendar year during which the Director makes, or is entitled to make, Compensation Deferrals under Section 3 hereof.

  • Cash Incentive Award means a cash award granted pursuant to Section 8 of this Plan.

  • Actual Award means as to any Performance Period, the actual award (if any) payable to a Participant for the Performance Period, subject to the Committee’s authority under Section 3(d) to modify the award.

  • Annual Cash Compensation means the sum of (a) the highest annual Base Salary in effect for the Executive and (b) the greater of (i) the Executive’s bonus for the most recently-completed year, if any, or (ii) the annualized amount of the Executive’s target bonus for the then current year.

  • Annual Incentive Award means an Award made subject to attainment of performance goals (as described in Section 14) over a performance period of up to one year (the Company’s fiscal year, unless otherwise specified by the Committee).

  • Stock Unit Account means the bookkeeping account established by the Company pursuant to Section 6.4.

  • Bonus Award means a bonus award made pursuant to Section 9.

  • Final Award means, in the context of this Request for Proposals and all its attendant documents, that point at which the final required signature on the contract(s) resulting from the procurement has been affixed to the contract(s) thus making it fully executed.

  • Deferral Date means the date Fees would otherwise have been paid to the Participant.