STIP Payment definition

STIP Payment means the gross amount of an Eligible Employee’s bonus under the annual cash Short-Term Incentive Plan or other short-term or annual performance-based cash incentive plan (e.g., the 2019 Key Employee Incentive Plan) adopted and maintained each year by Company or its Participating Subsidiaries. STIP Payments shall not include amounts received by an employee after such employee ceases to be an Eligible Employee or prior to becoming an Eligible Employee. For purposes of calculating benefits under the Plan, STIP Payment shall be calculated before reduction for compensation voluntarily deferred or contributed by the Eligible Employee pursuant to all qualified or nonqualified plans of the applicable Employer, and shall be calculated to include amounts not otherwise included in the Eligible Employee’s gross income under Code Sections 125, 132, 402(e)(3), 402(h), or 403(b) pursuant to plans or arrangements established by the Employer; provided, however, that all such amounts will be included in compensation only to the extent that had there been no such plan, the amount would have been payable in cash to the Eligible Employee.

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STIP Payment means the amount payable under the Plan to Participants upon the achievement of certain performance measures, calculated in accordance with Section 6;

STIP Payment has the meaning set forth in Section 2.4(d);

Examples of STIP Payment in a sentence

• Such percentage will be applied to the bonus amount that would have been payable to Employee based on actual achievement of the applicable corporate performance criteria had Employee remained employed through the STIP Payment Date.

• The prorated incentive award will be paid to Employee on the STIP Payment Date.

• The Executive shall be entitled to the full portion of the STIP Bonus (if any) for which the Executive would have been eligible to receive had the Executive remained employed with the Company through the Fiscal 2025 End Date, based on actual performance, payable in a lump sum during the STIP Payment Period.

• The STIP Payment, less applicable taxes and other withholdings, shall be payable on or before March 15, 2023.

• In the event that the employment of an employee of OpCo is terminated after the Effective Date and prior to February 29, 2008, the Acquiring Parties agreed that such employee shall be entitled to receive the STIP Payment on the date of such employee's termination and in addition to such employee's severance payment under Section 2.4(b).

• The COBRA Equivalent Payment, together with the Accrued Incentives (including the 2015 STIP Payment) are referred to collectively as the “Severance Payments”.

• The STIP Payment, less applicable taxes and other withholdings, shall be payable on or before March 31, 2023.

• Such 2013 STIP Payment shall be provided in a lump sum on the Company’s first monthly pay date that is on or after the 60th day following the Separation Date.

• The STIP Payment (if any) shall be determined by the Company (acting reasonably) subject to and in accordance with the rules of the STIP and based upon the 2022 performance results.

More Definitions of STIP Payment

STIP Payment means the gross amount of an Eligible Employee’s bonus under the annual cash Short-Term Incentive Plan or other short-term or annual performance-based cash