Payment of Awards Clause Example with 32 Variations from Business Contracts

Payment of Awards. (a) 5.1 Right to Receive Payment. Each Actual Award will be paid solely from the general assets of the Company. Company Group. Nothing in this Plan will be construed to create a trust or to establish or evidence any Participant's claim of any right other than as an unsecured general creditor with respect to any payment to which he or she the Participant may be entitled. (b) 5.1 Timing of Payment. Payment of each Actual Award shall will be made as soon as practicable after the end of the Performa...nce Period to which the Actual Award relates and after the Actual Award is approved by the Committee, Administrator, but in no event later than after the later of (i) (a) the 15th fifteenth (15th) day of the third (3rd) month of the Fiscal Year immediately following the Fiscal Year in which the Participant's Actual Award is first becomes no longer subject to a substantial risk of forfeiture, and (ii) (b) March 15 of the calendar year immediately following the calendar year in which the Participant's Actual Award is first becomes no longer subject to a substantial risk of forfeiture. Unless otherwise determined by the Committee, Administrator, to earn an Actual Award a Participant must be employed by the Company or any Affiliate Group on the date the Actual Award is paid. -3- It is the intent that this Plan be exempt from or comply with the requirements of Code Section 409A so that none of the payments to be provided hereunder will be paid, and in all cases subject to the additional tax imposed under Code Administrator's discretion pursuant to Section 409A, and any ambiguities herein will be interpreted to be so exempt or so comply. Each payment under this Plan is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). (c) 4.4. 5.2 Form of Payment. Each Subject to the terms of this Plan, including Section 6.1.2, each Actual Award generally will be paid in cash (or its equivalent) in a single lump sum. The Committee Administrator reserves the right, in its sole discretion, right to settle an Actual Award with a grant of an equity award under with such terms and conditions, including any vesting requirements, as determined by the Company's then-current equity compensation plan. (d) Administrator. -5- 5.3 Payment in the Event of Death or Disability. If a Participant dies or is terminated Termination of Employment occurs due to his a Participant's death or her Disability prior to the payment of an Actual Award that the Committee Administrator has determined will be paid for a prior Performance Period, then the Actual Award will be paid to his the Participant or her estate or to the Participant, Participant's estate, as the case may be, subject to the Committee's Administrator's discretion pursuant to reduce or eliminate any Actual Award otherwise payable. Section 4.4. View More

Payment of Awards. (a) 5.1 Right to Receive Payment. Each Actual Award will be paid solely from the general assets of the Company. Company Group. Nothing in this Plan will be construed to create a trust or to establish or evidence any Participant's claim of any right other than as an unsecured general creditor with respect to any payment to which he or she the Participant may be entitled. (b) 5.1 Timing of Payment. Payment of each Actual Award shall will be made as soon as practicable after the end of the Performa...nce Period to which the Actual Award relates and after the Actual Award is approved by the Committee, Administrator, but in no event later than after the later of (i) (a) the 15th fifteenth (15th) day of the third (3rd) month of the Fiscal Year immediately following the Fiscal Year in which the Participant's Actual Award is first becomes no longer subject to a substantial risk of forfeiture, and (ii) (b) March 15 of the calendar year immediately following the calendar year in which the Participant's Actual Award is first becomes no longer subject to a substantial risk of forfeiture. Unless otherwise determined by the Committee, Administrator, to earn an Actual Award a Participant must be employed by the Company or any Affiliate Group on the date the Actual Award is paid. -3- It is the intent that this Plan be exempt from or comply with the requirements of Code Section 409A so that none of the payments to be provided hereunder will be paid, and in all cases subject to the additional tax imposed under Code Administrator's discretion pursuant to Section 409A, and any ambiguities herein will be interpreted to be so exempt or so comply. Each payment under this Plan is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). (c) 4.4. -5- 5.2 Form of Payment. Each Subject to the terms of this Plan, including Section 6.1.2, each Actual Award generally will be paid in cash (or its equivalent) in a single lump sum. The Committee Administrator reserves the right, in its sole discretion, right to settle an Actual Award with a grant of an equity award under with such terms and conditions, including any vesting requirements, as determined by the Company's then-current equity compensation plan. (d) Administrator. 5.3 Payment in the Event of Death or Disability. If a Participant dies or is terminated Termination of Employment occurs due to his a Participant's death or her Disability prior to the payment of an Actual Award that the Committee Administrator has determined will be paid for a prior Performance Period, then the Actual Award will be paid to his the Participant or her estate or to the Participant, Participant's estate, as the case may be, subject to the Committee's Administrator's discretion pursuant to reduce or eliminate any Actual Award otherwise payable. Section 4.4. View More

Payment of Awards. (a) 5.1 Right to Receive Payment. Each Actual Award will be paid solely from the general assets of the Company. Company Group. Nothing in this Plan will be construed to create a trust or to establish or evidence any Participant's claim of any right other than as an unsecured general creditor with respect to any payment to which he or she the Participant may be entitled. (b) 5.1 Timing of Payment. Payment of each Actual Award shall will be made as soon as practicable after the end of the Performa...nce Period to which the Actual Award relates and after the Actual Award is approved by the Committee, Administrator, but in no event later than after the later of (i) (a) the 15th day of the third 3rd month of the Fiscal Year immediately following the Fiscal Year in which the Participant's Actual Award is first becomes no longer subject to a substantial risk of forfeiture, and (ii) (b) March 15 of the calendar year immediately following the calendar year in which the Participant's Actual Award is first becomes no longer subject to a substantial risk of forfeiture. Unless otherwise determined by the Committee, Administrator, to earn an Actual Award a Participant must be employed by the Company or any Affiliate Group on the date the Actual Award is paid. -3- It is the intent that this Plan be exempt from or comply with the requirements of Code Section 409A so that none of the payments to be provided hereunder will be paid, and in all cases subject to the additional tax imposed under Code Administrator's discretion pursuant to Section 409A, and any ambiguities herein will be interpreted to be so exempt or so comply. Each payment under this Plan is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). (c) 4.4. 5.2 Form of Payment. Each Actual Award generally will be paid in cash (or its equivalent) in a single lump sum. The Committee Administrator reserves the right, in its sole discretion, right to settle an Actual Award with a grant of an equity award under with such terms and conditions, including any vesting requirements, as determined by the Company's then-current equity compensation plan. (d) Administrator. -5- 5.3 Payment in the Event of Death or Disability. If a Participant dies or is terminated Termination of Employment occurs due to his a Participant's death or her Disability prior to the payment of an Actual Award that the Committee Administrator has determined will be paid for a prior Performance Period, then the Actual Award will be paid to his the Participant or her estate or to the Participant, Participant's estate, as the case may be, subject to the Committee's Administrator's discretion pursuant to reduce or eliminate any Actual Award otherwise payable. Section 4.4. View More

Payment of Awards. (a) Right to Receive Payment. Each Actual Award will be paid solely from the general assets of the Company. Company Group. Nothing in this Plan will be construed to create a trust or to establish or evidence any Participant's claim of any right other than as an unsecured general creditor with respect to any payment to which he or she the Participant may be entitled. (b) Timing of Payment. Payment of each Actual Award shall will be made as soon as practicable after the end of the Performance Peri...od to which the Actual Award relates and after the Actual Award is approved by the Committee, Administrator, but in no event later than after the later of (i) the 15th fifteenth (15th) day of the third (3rd) month of the Fiscal Year immediately following the Fiscal -5- Year in which the Participant's Actual Award is first becomes no longer subject to a substantial risk of forfeiture, and (ii) March 15 of the calendar year immediately following the calendar year in which the Participant's Actual Award is first becomes no longer subject to a substantial risk of forfeiture. Unless otherwise determined by the Committee, Administrator, to earn an Actual Award a Participant must be employed by the Company or any Affiliate Group on the date the Actual Award is paid. -3- It is the intent that this Plan be exempt from or comply with the requirements of Code Section 409A so that none of the payments to be provided hereunder will be paid, and in all cases subject to the additional tax imposed under Code Administrator's discretion pursuant to Section 409A, and any ambiguities herein will be interpreted to be so exempt or so comply. Each payment under this Plan is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). 4(d). (c) Form of Payment. Each Subject to the terms of this Plan, each Actual Award generally will be paid in cash (or its equivalent) in a single lump sum. The Committee Administrator reserves the right, in its sole discretion, right to settle an Actual Award with a grant of an equity award under with such terms and conditions, including any vesting requirements, as determined by the Company's then-current equity compensation plan. Administrator. (d) Payment in the Event of Death or Disability. If a Participant dies or is terminated Termination of Employment occurs due to his a Participant's death or her Disability prior to the payment of an Actual Award that the Committee Administrator has determined will be paid for a prior Performance Period, then the Actual Award will be paid to his the Participant or her estate or to the Participant, Participant's estate, as the case may be, subject to the Committee's Administrator's discretion pursuant to reduce or eliminate any Actual Award otherwise payable. Section 4(d). View More

Payment of Awards. (a) Right to Receive Payment. Each Actual Award will be paid solely from the general assets of the Company. Nothing in this Plan will be construed to create a trust or to establish or evidence any Participant's claim of any right other than as an unsecured general creditor with respect to any payment to which he or she may be entitled. (b) Timing of Payment. Payment of each Actual Award shall be made as soon as practicable after the end of the Performance Period to which the Actual Award relates... and after the Actual Award is approved by the Committee, but in no event later than the later of (i) the 15th day of the third month of the Fiscal Year immediately following the Fiscal Year in which the Participant's Actual Award is first no longer subject to a substantial risk of forfeiture, and (ii) March 15 of the calendar year immediately following the calendar year in which the Participant's Actual Award is first no longer subject to a substantial risk of forfeiture. Unless otherwise determined by the Committee, to earn To receive an Actual Award a Participant must be employed by the Company or any Affiliate on the date the Actual Award is paid. -3- Accordingly, an Actual Award is not considered earned until paid. It is the intent that this Plan be exempt from from, or comply with with, the requirements of Code Section 409A so that none of the payments to be provided hereunder will be subject to the additional tax imposed under Code Section 409A, and any ambiguities herein will be interpreted to be so exempt or so comply. Each payment under this Plan is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). (c) Form of Payment. Each Actual Award will generally will be paid in cash (or its equivalent) in a single lump sum. The Committee reserves the right, in its sole discretion, right to settle an Actual Award with a grant of an equity award under the Company's then-current equity compensation plan. (d) Payment in the Event of Death or Disability. If a Participant dies or is terminated due to his or her Disability prior to the payment of an Actual Award the Committee has determined will be paid for a prior Performance Period, the Actual Award will be paid to his or her estate or to the Participant, as the case may be, subject to the Committee's discretion to reduce or eliminate any Actual Award otherwise payable. View More

Payment of Awards. (a) Right to Receive Payment. Each Actual Award will be paid solely from the general assets of the Company. Company Group. Nothing in this Plan will be construed to create a trust or to establish or evidence any Participant's claim of any right other than as an unsecured general creditor with respect to any payment to which he or she the Participant may be entitled. (b) Timing of Payment. Payment of each Actual Award shall will be made as soon as practicable after the end of the Performance Peri...od to which the Actual Award relates and after the Actual Award is approved by the Committee, Administrator, but in no event later than after the later of (i) the 15th fifteenth (15th) day of the third (3rd) month of the Fiscal Year Company's taxable year immediately following the Fiscal Year Company's taxable year in which the Participant's Actual Award is first becomes no longer subject to a substantial risk of forfeiture, and (ii) March 15 of the calendar year immediately following the calendar year in which the Participant's Actual Award is first becomes no longer subject to a substantial risk of forfeiture. Unless otherwise determined by the Committee, Administrator, to earn an Actual Award a Participant must be employed or engaged by the Company or any Affiliate Group on the date the Actual Award is paid. -3- It is the intent that this Plan be exempt from or comply with the requirements of Code Section 409A so that none of the payments to be provided hereunder will be subject to the additional tax imposed under Code Section 409A, and any ambiguities herein will be interpreted to be so exempt or so comply. Each payment under this Plan is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). (c) Form of Payment. Each Actual Award generally will be paid in cash (or its equivalent) in a single lump sum. The Committee Administrator reserves the right, in its sole discretion, right to settle an Actual Award with a grant of an equity award under with such terms and conditions, including any vesting requirements, as determined by the Company's then-current equity compensation plan. Administrator. (d) Payment in the Event of Death or Disability. If a Participant dies or is terminated Termination of Service occurs due to his a Participant's death or her Disability prior to the payment of an Actual Award that the Committee Administrator has determined will be paid for a prior Performance Period, then the Actual Award will be paid to his the Participant or her estate or to the Participant, Participant's estate, as the case may be, subject to the Committee's Administrator's discretion to reduce or eliminate any Actual Award otherwise payable. View More

Payment of Awards. (a) Right to Receive Payment. Each Actual Award will be paid solely from the general assets of the Company. Nothing in this Plan will be construed to create a trust or to establish or evidence any Participant's claim of any right other than as an unsecured general creditor with respect to any payment to which he or she may be entitled. (b) Timing of Payment. Payment of each Actual Award shall be made as soon as practicable after the end of the Performance Period to during which the Actual Award ...relates was earned and after the Actual Award is approved by the Committee, but in no event later than following the later of (i) the 15th fifteenth (15th) day of the third (3rd) month of the Fiscal Year immediately following the Fiscal Year in which date the Participant's Actual Award has been earned and is first no longer subject to a substantial risk of forfeiture, forfeiture and (ii) March 15 of the calendar year immediately following the calendar year in which the Participant's Actual Award has been earned and is first no longer subject to a substantial risk of forfeiture. Unless otherwise determined by the Committee, to earn an Actual Award a Participant must be employed by the Company or any Affiliate on the date the Actual Award is paid. -3- It is the intent that this Plan comply with or be exempt from or comply with the requirements of Code Section 409A so that none of the payments to be provided hereunder will be subject to the additional tax imposed under Code Section 409A, and any ambiguities herein will be interpreted to so comply or be so exempt exempt. Each Participant acknowledges and agrees that the Company and its Affiliates make no representations with respect to the application of Code Section 409A to any Award and other tax consequences to any payments under the Plan and, by the acceptance of any Award or so comply. Each payment under this Plan is intended any such payments, the Participant agrees to constitute a separate payment for purposes accept the potential application of Treasury Regulation Code Section 1.409A-2(b)(2). 409A and the other tax consequences of any payments made pursuant to the Plan. (c) Form of Payment. Each Actual Award generally will be paid in cash (or its equivalent) in a single lump sum. The Committee reserves the right, in its sole discretion, to settle an Actual Award with a grant of an equity award under the Company's then-current equity compensation plan. (d) Payment in the Event of Death or Disability. If a Participant dies or is terminated due to his or her Disability becomes Disabled prior to the payment of an Actual Award the Committee has determined will be paid earned by him or her prior to death or Disability for a prior Performance Period, the Actual Award will be paid to his or her estate or to the Participant, as the case may be, subject to the Committee's discretion to reduce or eliminate any Actual Award otherwise payable. View More

Payment of Awards. (a) Right (a)Right to Receive Payment. Each Actual Award will be paid solely from the general assets of the Company. Nothing in this Plan will be construed to create a trust or to establish or evidence any Participant's claim of any right other than as an unsecured general creditor with respect to any payment to which he or she may be entitled. (b) Timing (b)Timing of Payment. Payment of each Actual Award shall be made as soon as practicable as determined by the Committee after the end of the Pe...rformance Period to during which the Actual Award relates and after the Actual Award is approved by the Committee, was earned, but in no event later than the later of (i) the 15th fifteenth day of the third month of the Fiscal Year immediately following the Fiscal Year in which date the Participant's Actual Award is first no longer subject to a substantial risk of forfeiture, and (ii) March 15 of the calendar year immediately following the calendar year in which the Participant's Actual Award is first no longer subject to a substantial risk of forfeiture. Unless otherwise determined by the Committee, to earn an Actual Award a Participant must be employed by the Company or any Affiliate on the date last day of the Actual Award is paid. -3- Performance Period to receive a payment under the Plan. It is the intent that this Plan be exempt from or comply with the requirements of Code Section 409A so that none of the payments to be provided hereunder will be subject to the additional tax imposed under Code Section 409A, and any ambiguities herein will be interpreted to be so exempt or so comply. Each payment under this Plan is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). (c) Form (c)Form of Payment. Each Actual Award generally will be paid in cash (or its equivalent) in a single lump sum. The Committee reserves the right, in its sole discretion, to settle an Actual Award with a grant of an equity award under the Company's then-current equity compensation plan. (d) Payment (d)Payment in the Event of Death or Disability. If a Participant dies or is terminated due to his or her Disability becomes Disabled prior to the payment of an Actual Award the Committee has determined will be paid earned by him or her prior to death or Disability for a prior Performance Period, the Actual Award will be paid to his or her estate or to the 2015 Bonus Plan Appendix A -3- Participant, as the case may be, subject to the Committee's discretion to reduce or eliminate any Actual Award otherwise payable. View More

Payment of Awards. (a) Right to Receive Payment. Each Actual Award will be paid solely from the general assets of the Company. Nothing in this Plan will be construed to create a trust or to establish or evidence any Participant's claim of any right other than as an unsecured general creditor with respect to any payment to which he or she may be entitled. (b) Timing of Payment. Payment of each Actual Award shall be made as soon as practicable after the end of the Performance Period to which the Actual Award relates... and after the Actual Award is approved by the Committee, but in no event later than the later of (i) the 15th day of the third month of the Fiscal Year immediately following the Fiscal Year in which the Participant's Actual Award is first no longer subject to a substantial risk of forfeiture, and (ii) March 15 of the calendar year immediately following the calendar year in which the Participant's Actual Award is first no longer subject to a substantial risk of forfeiture. Committee. Unless otherwise determined by the Committee, to earn an Actual Award a Participant must be employed by the Company or any Affiliate on the date the Actual Award is paid. -3- It is the intent that this Plan be exempt from or comply with the requirements of Code Section 409A so that none of the payments to be provided hereunder will be subject to the additional tax imposed under Code Section 409A, and any ambiguities herein will be interpreted to be so exempt or so comply. Each payment under this Plan is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). (c) Form of Payment. Each Actual Award generally will be paid in cash (or its equivalent) in a single lump sum. The Committee reserves the right, in its sole discretion, to settle an Actual Award with a grant of an equity award under the Company's then-current equity compensation plan. (d) Payment in the Event of Death or Disability. If a Participant dies or is terminated due to his or her Disability prior to the payment of an Actual Award plan, which equity award may have such terms and conditions, including vesting, as the Committee has determined will be paid for a prior Performance Period, the Actual Award will be paid to his or her estate or to the Participant, as the case may be, subject to the Committee's discretion to reduce or eliminate any Actual Award otherwise payable. determines in its sole discretion. View More

Payment of Awards. (a) Right to Receive Payment. Each Actual Award will be paid solely from the general assets of the Company. Nothing in this Plan will be construed to create a trust or to establish or evidence any Participant's claim of any right other than as an unsecured general creditor with respect to any payment to which he or she may be entitled. (b) Timing of Payment. Payment of each Actual Award shall be made as soon as practicable after the end of the Performance Period to during which the Actual Award ...relates was -3- earned and after the Actual Award is approved by the Committee, Administrator, but in no event later than following the later of (i) the 15th fifteenth (15th) day of the third (3rd) month of the Fiscal Year immediately following the Fiscal Year in which the Participant's Actual Award is first has been earned and no longer is subject to a substantial risk of forfeiture, and (ii) March 15 of the calendar year immediately following the calendar year in which the Participant's Actual Award is first has been earned and no longer is subject to a substantial risk of forfeiture. Unless otherwise determined by the Committee, Administrator, to earn an Actual Award a Participant must be employed by the Company or any Affiliate on the date the Actual Award is paid. -3- It is the intent that this Plan be exempt from or comply with the requirements of Code Section 409A so that none of the payments to be provided hereunder will be subject to the additional tax imposed under Code Section 409A, and any ambiguities herein will be interpreted to be so exempt or so comply. Each payment under this Plan is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). (c) Form of Payment. Each Actual Award generally will be paid in cash (or its equivalent) in a single lump sum. The Committee reserves the right, in its sole discretion, to settle an Actual Award with a grant of an equity award under the Company's then-current equity compensation plan. (d) Payment in the Event of Death or Disability. If a Participant dies or is terminated due to his or her Disability becomes Disabled prior to the payment of an Actual Award the Committee has determined will be paid earned by him or her prior to death or Disability for a prior Performance Period, the Actual Award will be paid to his or her estate or to the Participant, as the case may be, subject to the Committee's Administrator's discretion to reduce or eliminate any Actual Award otherwise payable. View More