Variable Compensation Payment definition
Variable Compensation Payment means the amount of the annual payment, if any, under the Plan determined in accordance with procedures authorized by the Committee to be payable to a Participant for a Plan Year. Notwithstanding any provision in this Plan or such Committee-authorized procedures to the contrary, in determining the amount of a Participant’s Variable Compensation Payment for a Plan Year, if any, the Committee (with regard to any Eligible Officer) and the Department (with regard to all other Participants) shall have the discretion to reduce such payment to any amount, including zero, prior to the payment date of such Variable Compensation Payment. The Variable Compensation Payment payable to a Participant for a Plan Year, if any, is determined in accordance with guidelines established with respect to such Plan Year by the Committee and the Department. A Participant’s selection to receive a Variable Compensation Payment for a Plan Year shall in no way entitle him or her to receive, or otherwise obligate the Corporation, the Committee or the Department to award such Participant, any additional Variable Compensation Payments with respect to any future Plan Year.
Variable Compensation Payment as used in this Plan means those annual variable compensation payments payable (regardless of whether or not deferred) under (i) the Praxair, Inc. Variable Compensation Plan, or any successor plan, (ii) the Praxair, Inc. Mid-Management Variable Compensation Plan, or any successor plan, or (iii) any other variable compensation plan designated by the Committee.
Variable Compensation Payment means any transaction bonus or other variable compensation payments to which any Transferred Employees are entitled.
More Definitions of Variable Compensation Payment
Variable Compensation Payment means the amount of the annual payment under the Plan determined in accordance with procedures authorized by the Committee to be payable to a Participant for a Plan Year.
Variable Compensation Payment means that amount of the annual payment, if any, under the Plan determined in accordance with procedures authorized by the Committee to be payable to a Participant for a Plan Year. Notwithstanding any provision in this Plan or such Committee-authorized procedures to the contrary, in determining the amount of a Participant's Variable Compensation Payment for a Plan Year, if any, the Committee shall have the discretion to reduce such payment to any amount, including zero, prior to the payment date of such Variable Compensation Payment (determined pursuant to Section 6.1), if the Committee deems such reduction to be in the best interests of the Corporation's stockholders."