FOURTH OPTION definition

FOURTH OPTION. If no such employee exists pursuant to Option 4, replace the least senior employee in successive lower classifications having different but most nearly equivalent employment status and hours per year, provided the employee has greater seniority and the abilities and qualifications to perform the duties of the job position. (Successive lower classifications with most like hours).
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FOURTH OPTION. Interest The Company will hold the proceeds at interest during the life of the Payee or for any other period agreed to by the Company. Interest on proceeds: . Will be paid each month to the Payee starting one month after the Option Date: or . Will be added to the principal amount each year and will earn interest. At the death of the Payee, or at the end of the period agreed to, the balance of principal and any accrued interest will be paid in one sum. The rate of interest will be set each year by the Company; but the rate will not be less than 3 1/2% per year.
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FOURTH OPTION is defined in Section 8(a).
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Examples of FOURTH OPTION in a sentence

  • The table for the Fourth Option is based on an interest rate of 5% per annum.

  • The table for the Fourth Option is based on an interest rate of 3% per annum.

  • Under the Fourth Option, the amount of each payment will depend upon the sex of both Payees and their adjusted ages at the time the first payment is due.

  • Each of the First Option, Second Option, Third Option, and Fourth Option (together, the “Options”) are governed by the Parent’s relevant equity plan and/or award agreement, unless specifically stated otherwise in this Agreement.

  • This grant is in satisfaction of the Company’s obligation to the Participant with respect to the Fourth Option Award provided for in the Executive Compensation Agreement by and between the Company and the Participant entered into as of March 10, 2015, effective as of January 1, 2015, as amended by Amendment No. 1 to Executive Compensation Agreement dated December 30, 2015 and by Amendment No. 2 to Executive Compensation Agreement dated March 10, 2017 (“Executive Compensation Agreement”).

  • The extension of the Option Period from August 4, 2018 to 5:00 p.m. Eastern Time on August 20, 2018 shall not be effective unless the Fourth Option Payment is made by Purchaser on or before August 7, 2018.

  • The Second Option Payment, the Third Option Payment and the Fourth Option Payment shall be treated as “Option Consideration” for all purposes under the Agreement, including being credited against the Purchase Price at Closing.

  • Under the Fourth Option, the Amount of each payment will depend upon the ages of both payees at the time the first payment is due.

  • In the event of the death of the Annuitant while receiving annuity payments, the present values at the current dollar amount on the date of death of any remaining guaranteed number of payments, or any then remaining balance of proceeds under the Fourth Option, will be paid in one sum to the Beneficiary unless other provisions shall have been made and approved by the Company.

  • Under the Fourth Option, the amount of each payment will depend upon the sex of both Annuitants and their ages at the time the Annuity Commencement Date.


More Definitions of FOURTH OPTION

FOURTH OPTION. If no such employee exists pursuant to Option 4, replace the least senior employee in successive lower classifications having different but most nearly equivalent employment status and hours per year, provided the employee has greater seniority and the abilities and qualifications to perform the duties of the job position. (Successive lower classifications with most like hours) Subd 3. Employees so notified of their options shall reply in writing to the Director of Human Resources within 7 calendar days of receiving such notice, therein notifying the School Board of their intent to elect of one of their described options. Such reply may be in the form of e- mail. Failure to provide such timely written notice shall constitute a resignation on the part of the employee.
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FOURTH OPTION has the meaning given such term in the Option Agreement.
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FOURTH OPTION. INTEREST The Company will hold the proceeds at interest during the life of the Payee or for any other period agreed to by the Company. Interest on the proceeds: . Will be paid each month to the Payee starting one month after the Option Date; or . Will be added to the principal amount each year and will earn interest. At the death of the Payee, or at the end of the period agreed to, the balance of principal and any accrued interest will be paid in one sum. The rate of interest will be set each year by the Company; but the rate will not be less than 3 1/2% per year. FIFTH OPTION: SPECIFIED AMOUNT OF INCOME The Company will make monthly payments which will include both principal and interest. Payments will be in the amount chosen. Payments can be quarterly or at any other frequency chosen, and payments can be for different amounts, all subject to the consent of the Company. Payments will start on the Option Date and will continue until the balance is fully paid out. At the death of the Payee any unpaid balance and accrued interest will be paid in one sum. The rate of interest will be set each year by the Company; but the rate will not be less than 3 1/2% per year. Interest will be added each year to the principal and will earn interest. SIXTH OPTION: LIFE INCOME FOR TWO LIVES The Company will make monthly payments. Payments will start on the Option Date and will continue: . While either of two Payees is living, called "Joint and Survivor Life Income"; or . While either of two Payees is living, but for at least 10 years, called "Joint and Survivor Life Income, 10 Years Certain"; or . While two Payees are living, and after the death of one Payee, two-thirds of the monthly amount while the other Payee is living, called "Joint and 2/3 to Survivor Life Income". NEV-14-E
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Related to FOURTH OPTION

  • 3(i) Option means an Option granted pursuant to Section 3(i) of the Ordinance to any person who is Non- Employee.

  • Top-Up Option has the meaning set forth in Section 1.04(a).

  • Shoe Option means the Initial Purchasers’ option to purchase up to seventy five million dollars ($75,000,000) aggregate principal amount of additional Notes as provided for in the Purchase Agreement.

  • Vested Option means any Option, which has already been vested according to the Vesting Dates.

  • Vested Options means the Options that have vested in accordance with Section 2.2 of this Agreement.

  • Unvested Option means an Option in respect of which the relevant Vesting Conditions have not been satisfied and as such, the Option Grantee has not become eligible to exercise the Option.

  • Related Option means an Option with respect to which a Stock Appreciation Right has been granted.

  • Option Grant Date means, as to any Stock Option, the latest of:

  • Director Option means an Option granted pursuant to Section 6.

  • Reload Option means any Option granted under Section 6(a)(iv) of the Plan.

  • Stock Option means a contractual right granted to an Eligible Person under Section 6 hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement.

  • Optioned Stock means the Common Stock subject to an Option.

  • Nonqualified Option means any Option that is not an Incentive Stock Option.

  • Incentive Option means an option which satisfies the requirements of Code Section 422.

  • Employee Option means an Option granted pursuant to Section 5.

  • Share Option means a Nonqualified Share Option or an Incentive Share Option.

  • Stock Reload Option means any option granted under Section 6.3, below, as a result of the payment of the exercise price of a Stock Option and/or the withholding tax related thereto in the form of Stock owned by the Holder or the withholding of Stock by the Company.

  • Option Right means the right to purchase Common Shares upon exercise of an option granted pursuant to Section 4 of this Plan.

  • Option means a stock option granted pursuant to the Plan.

  • Extension Option shall have the meaning set forth in Section 2.5(c) hereof.

  • Renewal Option has the meaning set forth in §12.1.

  • Incentive Share Option means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision thereto.

  • Company Stock Option means each option to purchase shares of Company Common Stock outstanding under the Company Stock Plans.

  • Second Extension Option shall have the meaning set forth in Section 2.6.1 hereof.

  • Over-Allotment Option means the option of the Underwriters to purchase up to an additional 15 per cent of the firm units (as described in the Articles) issued in the IPO at a price equal to US$10 per unit, less underwriting discounts and commissions.

  • Stock Option Agreement means the agreement between the Company and an Optionee that contains the terms, conditions and restrictions pertaining to the Optionee’s Option.