VSIP Incentive Payment Sample Clauses

VSIP Incentive Payment. The University agrees to pay me the following payment and other consideration under the University’s Voluntary Separation Incentive Program for Retirement (the “VSIP”), provided that I timely sign this Agreement. I agree that the VSIP payment (the “Incentive Payment”) is a benefit that I am not already entitled to. I will receive a one-time lump sum Incentive Payment in the gross amount of $[amount inserted by FHSU]. I acknowledge that the Incentive Payment amount is subject to federal and state income taxes and, if applicable, federal Medicare taxes. I authorize the University to reduce the lump sum Incentive Payment by the amount of these withholding taxes.
Sample 1Sample 2
AutoNDA by SimpleDocs
VSIP Incentive Payment. Each approved applicant, who submits (and does not revoke) an executed Separation Agreement, will receive a lump-sum cash payment equal to 90% of his/her annual base salary as of October 1, 2014, less required deductions. The base salary is the “9 months over 12” or 12-month faculty salary in effect at October 1, 2014, and does not include any other payments such as summer sessions, overloads, or other additional payments, such as professorship or administrative stipends. The VSIP payment will be made on or before the Date of Separation; provided that no VSIP payment will be made before the Separation Agreement’s seven (7) day revocation period, described below, has passed.
Sample 1Sample 2
VSIP Incentive Payment. As an incentive to voluntarily separate from employment, the University will pay the Faculty Member an amount that is equivalent to eighty percent (80%) of the Faculty Member’s base annual academic salary as of October 1, 2019, the total gross amount of $ , (“VSIP Incentive Payment”). This amount will be paid in a lump sum payment to the Faculty Member within thirty-one (31) calendar days following the Separation Date. Because this payment constitutes income to the Faculty Member, all requisite payroll deductions will be withheld from that payment. This VSIP Incentive Payment is in addition to any other monies or benefits that the Faculty Member would have received if the Faculty Member had voluntarily resigned without participating in the VSIP. If the Faculty Member should die before receiving the VSIP Incentive Payment, the Faculty Member authorizes the University to distribute the VSIP Incentive Payment to as the Faculty Member’s designated beneficiary.
Sample 1

Related to VSIP Incentive Payment

  • Incentive Payment 11.3.1 An employer may offer and an employee may accept an early retirement incentive based on the age at retirement to be paid in the following amounts Age at Retirement % of Annual Salary at Time of Retirement 55 to 59 100% 60 80% 61 60% 62 40% 63 20% 64 0%

  • Incentive Payments The Settlement Fund Administrator will treat incentive payments under Section IV.F on a State-specific basis. Incentive payments for which a Settling State is eligible under Section IV.F will be allocated fifteen percent (15%) to its State Fund, seventy percent (70%) to its Abatement Accounts Fund, and fifteen percent (15%) to its Subdivision Fund. Amounts may be reallocated and will be distributed as provided in Section V.D.

  • Incentive Pay (1) For any calendar year: in which twenty-five percent (25%) of the number of members employed as of January 1 of each year are rated as either Level II or Level III in every phase of the PFT then

  • Education Incentive Pay An employee shall be entitled to receive educational incentive pay as follows:

  • Bonus Payments In addition to Base Salary, Executive shall be entitled, during the Employment Term, to participate in and receive payments from all bonus and other incentive compensation plans (as currently in effect, as modified from time to time, or as subsequently adopted) of the Company; provided, however, that nothing contained herein shall grant Executive the right to continue in any bonus or other incentive compensation plan following its discontinuance by the Board (except to the extent Executive had earned or otherwise accumulated vested rights therein prior to such discontinuance).

  • Performance Bonus If Employee's employment is terminated by Employee with cause, or by Bank without cause, Employee shall be paid, in addition to the amounts payable under Sections 3.5 and 3.6 of the Agreement: (i) all non-forfeitable deferred compensation, if any; and (ii) unpaid performance bonus payments, if any, payable under Section 4.2 of the Agreement, which shall be declared earned and payable based upon performance up to, and shall be pro-rated as of, the date of termination. Employee shall not be entitled to such unpaid performance bonus payments if Employee's employment is terminated by Bank with cause, or by Employee without cause.

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • Performance Pay In accordance with Section 8 of the General Appropriations Act for Fiscal Year 2020-2021, contingent upon the availability of funds and at the Agency Head’s discretion, each agency is authorized to grant merit pay increases based on the employee’s exemplary performance, as evidenced by a performance evaluation conducted pursuant to Rule 60L-35, Florida Administrative Code.

  • Performance Incentive 4.9.1 If the Seller delivers Coal to the Purchaser in excess of ninety percent (90%) of the ACQ in a particular Year, the Purchaser shall pay the Seller an incentive (“Performance Incentive”/ “PI”), to be determined as follows: PI = P x Additional Deliveries x Multiplier Where: PI = The Performance Incentive payable by the Purchaser to the Seller P = The Base Price of Highest Grade, as shown in Schedule II Additional Deliveries = Quantity [in tonnes] of Coal delivered by the Seller in the relevant Year in excess of 90% of the ACQ. Multiplier shall be 0.15 for Additional Deliveries between 90%-95% of ACQ and 0.30 for Additional Deliveries in excess of 95% of ACQ.

  • Severance Payment Executive will be paid continuing payments of severance pay at a rate equal to Executive’s base salary rate, as then in effect, for twelve (12) months from the date of such termination of employment, to be paid periodically in accordance with the Company’s normal payroll policies.

Time is Money Join Law Insider Premium to draft better contracts faster.