Payment of Awards. Following the conclusion of each Performance Period, the Committee shall determine the extent to which performance criteria have been attained, and the satisfaction of any other terms and conditions with respect to an Award relating to such Performance Period. The Committee shall determine what, if any, payment is due with respect to an Award and whether such payment shall be made in cash, Shares or a combination thereof. Payment shall be made on such date(s) after the end of the applicable Performance Period as the Committee establishes at the time the Award is granted in a single lump sum unless the Committee provides otherwise, subject to such terms and conditions and in such form as may be prescribed by the Committee. Unless the Committee provides otherwise, the payment date so established by the Committee shall not be later than March 15 of the year after the year in which the Performance Period ends. Payment in Stock may be in Restricted Stock as determined by the Committee at the time the Award is granted.
PaymentTiming of Awards. Following the conclusionPayment. Except as otherwise provided in [Section 11(b)] or in [Section 13], distribution of eachAwards for a Performance Period, the Committee shall determine the extent to which performance criteria have been attained, and the satisfaction of any other terms and conditions with respect to an Award relating to such Performance Period. The Committee shall determine what, if any, payment is due with respect to an Award and whether such paymentPeriod shall be made in cash, Shareson, or a combination thereof. Paymentas soon as practicable after, the distribution date for such Awards determined by the Committee, which date shall be made on such date(s) afteror before March 15 following the end of the applicable Performance Period as the Committee establishes at the time the Award is grantedPeriod, but in a single lump sum unless the Committee provides otherwise, subject tono event shall such terms and conditions and in such form as may be prescribed by the Committee. Unless the Committee provides otherwise, the payment date so established by the Committee shall not be later than the December 31 immediately following such March 15 of15, and shall be payable in cash. Except as otherwise provided herein, no Participant shall have the year after the year in whichunconditional right to an Award hereunder until the Performance Period ends. Payment in Stock may be in Restricted Stock ashas concluded and the exact amount of the Award (if any) has been determined by the Committee atin accordance with [Section 10]. Except as otherwise provided in [Section 12], payment of any Award is subject to continued active employment with the timeCompany or any of its Subsidiaries until the date the Award is granted.paid.
Payment of Awards. Following the conclusion of each Performance Period, the Committeeearned Performance-Based Awards shall determine the extent to which performance criteria have been attained, and the satisfaction of any other terms and conditions with respect to an Award relating to such Performance Period. The Committee shall determine what, if any, payment is due with respect to an Award and whether such payment shall be made in cash, Shares or a combination thereof. Payment shall be made on such date(s) after the end of the applicable Performance Period as the Committee establishes at the time the Award is granted in a single lump sum unless the Committee provides otherwise, subject to such terms and conditions and in such form as may be prescribed by the Committee. Unless the Committee provides otherwise, the payment date so established by the Committee shall not be later than March 15 of the year after the year in which the Performance Period ends. Payment in Stock may be in Restricted Stock as determined by the Committee and as evidenced in the applicable Award Agreement. Subject to the terms of the Plan, the Committee, in its sole discretion, may pay earned Performance-Based Awards in shares of Stock and shall pay the Awards that have been earned at the timeclose of the applicable Performance Period, or as soon as reasonably practicable after the Committee has determined that the performance goal or goals have been achieved; provided that, unless specifically provided in the Award is granted.Agreement for such Awards, such payment shall occur no later than the 15th day of the third month following the end of the calendar year in which such Performance Period ends. Any shares of Stock paid out under such Awards may be granted subject to any restrictions deemed appropriate by the Committee. The determination of the Committee with respect to the form of payout of such Awards shall be set forth in the Award Agreement for the Awards.
PaymentPayment. The amount of Awards. Following the conclusion of each Performance Period,Award payable as determined by the Committee shall determinefor the extent to which performance criteria have been attained, and the satisfaction of any other terms and conditions with respect to an Award relating to such Performance Period. The Committee shall determine what, if any, payment is due with respect to an Award and whether such paymentPeriod shall be madepaid to the Participant at such time as determined by the Committee in cash, Shares or a combination thereof. Payment shall be made on such date(s)its sole discretion after the end of the applicable Performance PeriodPeriod, but in all events by March 15th of the calendar year following the end of the Performance Period. Award payments shall be made in cash. Except as the Committee establishes atmay otherwise determine in its sole and absolute discretion, termination of a Participant’s employment prior to the time the Award is granted in a single lump sum unless the Committee provides otherwise, subject to such terms and conditions and in such form as may be prescribed by the Committee. Unless the Committee provides otherwise, the payment date so established by the Committee shall not be later than March 15end of the year after the year in which the Performance Period ends. Paymentwill result in Stock may be in Restricted Stock as determinedthe forfeiture of the Award by the Committee at the time the Award is granted.Participant, and no payments shall be made with respect thereto.
Payment of Awards. Following the conclusion of each Performance Period, the Committee shall determine the extent to which performance criteria have been attained, and the satisfaction of any other terms and conditions with respect toPayment. Except as provided in [Article 11] or as may be provided in an Award relating to suchAgreement, Performance Period. The Committee shall determine what, if any, payment is due with respect to an Award and whether such payment shallAwards will be made in cash, Shares or a combination thereof. Payment shall be made on such date(s)distributed only after the end of the applicablerelevant Performance Period. Performance Awards may be paid in cash, Shares, or any combination thereof in the sole discretion of the Committee. Performance Awards may be paid in a lump sum or in installments following the close of the Performance Period as the Committee establishes at the time the Award is grantedor, in a single lump sum unless the Committee provides otherwise, subject to such terms and conditions and in such form as may be prescribed by the Committee. Unless the Committee provides otherwise, the payment date soaccordance with procedures established by the Committee shall not be later than March 15Committee, on a deferred basis subject to the requirements of Section 409A of the year after the year in which the Performance Period ends. Payment in Stock may be in Restricted Stock as determined by the Committee at the time the Award is granted.Code.
Form and Timing of Payment of Performance Awards. Following the conclusionPayment of eachearned Performance Period, the Committee shall determine the extent to which performance criteria have been attained, and the satisfaction of any other terms and conditions with respect to an Award relating to such Performance Period. The Committee shall determine what, if any, payment is due with respect to an Award and whether such paymentAwards shall be made in cash, Shares or a combination thereof. Payment shall be made on such date(s) after the end of the applicable Performance Period as the Committee establishes at the time the Award is granted in a single lump sum unless the Committee provides otherwise, subject to such terms and conditions and in such form as may be prescribed by the Committee. Unless the Committee provides otherwise, the payment date so established by the Committee shall not be later than March 15 of the year after the year in which the Performance Period ends. Payment in Stock may be in Restricted Stock as determined by the Committee at the timeGrant Date and shall be evidenced in the Award is granted.Agreement. Subject to the terms of the Plan and the Award Agreement, the Committee, in its sole discretion, may pay earned Performance Awards in the form of cash, Stock or other Awards (or in a combination cash, Stock or other Awards) equal to the value of the earned Performance Awards, payable at the close of the applicable Performance Period, or within 60 days after the end of the Performance Period. Any cash, Stock, or other Awards issued in connection with a Performance Award may be issued subject to any restrictions deemed appropriate by the Committee.
Section # Payment of Awards. FollowingAn Award shall not become payable unless, after the conclusionexpiration of eachthe Performance Period, the Committee shall determinehas certified either that the extentPerformance Objectives with respect to which performance criteriasuch Award have been attained, andsatisfied or the satisfactionlevel of any otherattainment of each Performance Objective. Unless otherwise expressly stated in the terms and conditions with respectof a particular Award, the Committee retains the power, authority and discretion to anreduce or eliminate, but not to increase, the amount calculated as payable under the terms of any Award relatingin order to reflect other performance criteria. Payment of such Performance Period. The Committee shall determine what, if any, payment is due with respect to an Award and whether such paymentAwards that have been certified shall be made to Participants in cash, Shares or a combination thereof. Payment shall be made onsingle lump sum in cash at such date(s)time determined by the Committee, and generally no later than two and one-half months after the end of the applicable Performance Period asPeriod; provided that unless otherwise clearly specified in the Committee establishes at the time the Award is granted in a single lump sum unless the Committee provides otherwise, subject to such terms and conditions and in such form as mayof a particular Award, payment shall be prescribed by the Committee. Unless the Committee provides otherwise, the payment date so established by the Committee shall not bemade no later than March 152-1/2 months after the end of the calendar year after the year induring which the Performance Period ends. PaymentAward became vested, or as soon as practical thereafter. In no event shall any Participant receive an Award payment or payments in Stock may be in Restricted Stockany fiscal year that exceeds the lesser of # or # 400% of the Participant’s base salary (prior to any salary reduction or deferral elections) as determined byof the Committee atdate of grant of the time the Award is granted.Award.
Payment of Performance Awards. FollowingEach Participant granted a Performance Share Award shall be entitled to payment on account thereof as of the conclusionclose of each Performancethe applicable Award Period, but only if the Committee shall determinehas determined that the extent to which performance criteriaconditions for payment of the Award set by the Committee have been attained, and the satisfactionsatisfied. Payment of any other terms and conditions with respect to an Award relating to such Performance Period. The Committee shall determine what, if any, payment is due with respect to an Award and whether such paymentAwards shall be made in cash, Shares or a combination thereof. Payment shall be made on such date(s) afterby Energen promptly following the end of the applicable Performance Period as the Committee establishes at the time the Award is granted in a single lump sum unless the Committee provides otherwise, subject to such terms and conditions and in such form as may be prescribed by the Committee. Unless the Committee provides otherwise, the payment date so establisheddetermination by the Committee shall not be later thanthat payment has been earned and by March 15 of the year afterfollowing the year in which the Performance Period ends. Payment in Stock may be in Restricted Stock as determined by the Committee at the time the Award is granted.earned. Payment of Performance Shares shall be made in the form of shares of Stock.
Payment of Awards. Following the conclusion of each Performance Period, the Committee shall determine the extent to which performance criteria have been attained, and the satisfaction of any other terms and conditions with respect to an Award relating to such Performance Period. The Committee shall determine what, if any, payment is due with respect to an Award and whether such paymentAwards shall be made in cash, Shares orpaid to the Participant on a combination thereof. Payment shall be made on such date(s)date after the end of the applicable Performance Period as the Committee establishes at the time the Awardthat is granted in a single lump sum unless the Committee provides otherwise, subject to such terms and conditions and in such form as may be prescribed by the Committee. Unless the Committee provides otherwise, the payment date so established by the Committee shall not beno later than March 15two and one-half months following the end of the year after the yearsuch Performance Period, unless deferred as described in which the Performance Period ends. Payment[Section 5] of this Plan. Awards will be paid in Stock may be in Restricted Stockcash as determined by the Committee. Payment of Awards may be subject to such vesting, forfeiture, transfer or such other restrictions (or any combination thereof) as the Committee at the time the Award is granted.shall specify.
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