Second Payout definition

Second Payout means the occurrence of Payout utilizing the IRR and the ROI Factor set forth opposite “Second Payout” in Table 2 below.
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Examples of Second Payout in a sentence

  • Participants may also be entitled to receive an Unawarded MIP Units Payment as of the Initial Payout Date, Second Payout Date or Final Payout Date, as applicable.

  • Except for the specific exceptions contained in Section 2(f) hereof, the Recipient must be an active, full-time employee of the Company on each of the First Payout Date and the Second Payout Date as a condition precedent to payment of the portion of the Award payable on such date.

  • First Payout Last pay period of November 2015 Second Payout Last pay period of November 2016 * Administrative guidelines for payment of Ratification bonus and Lump Sum payments are subject to Letter of Understanding #22 found at the back of this agreement.

  • If Executive is terminated by the Company without Cause prior to the First Payout Date or Second Payout Date the Executive shall be entitled to receive any unpaid Retention Bonus payments.

  • First Payout 15 days upon ratification Second Payout Last pay period of June 2013 There will be a one-time signing bonus of five hundred ($500) dollars for each fulltime employee and two hundred and fifty ($250) dollars for each part time employee upon ratification of this agreement in conjunction with the first lump sum payment.

  • The assignment shall provide that upon the occurrence of the Second Payout, as defined below, the interest in the Prospect to which the Vendor shall be entitled shall increase from an undivided twenty per cent (20.0%) to an undivided twenty-five per cent (25%).

  • First Payout 15 days upon ratification Second Payout Last pay period of November 2013 There will be a one-time signing bonus of five hundred ($500) dollars for each fulltime employee and two hundred and fifty ($250) dollars for each part time employee upon ratification of this agreement in conjunction with the first lump sum payment.

  • Executive shall not be eligible to receive the prescribed Retention Bonus payment above if he is terminated for Cause as defined in Section 10 below or if Executive voluntarily resigns his employment prior to the First Payout Date or Second Payout Date.