Amendment to 2007-2009 Incentive Performance Units Agreement Sample Clauses

Amendment to 2007-2009 Incentive Performance Units Agreement. The terms and conditions of the 2007-2009 Incentive Performance Units Agreement between Grantee and PNC are hereby amended as follows. (1) Section 4.1 is amended by replacing the phrase in the last sentence of the fourth paragraph of that section that begins “except …” and ends “…Agreement” with the following phrase: “except that in the case of death, the determination and payment of said award, if any, shall be accelerated if so indicated in accordance with the applicable provisions of Section 5 or Section 6, as applicable, and Section 7.” (2) Section 4.2 is amended by adding the following phrase to the end of the last sentence of the last paragraph of that section: “and payable in accordance with Section 7”. (3) Section 4.3 is amended by: replacing the phrase “that the Committee may” in the proviso clause in the first paragraph of that section with the phrase “that PNC may”; deleting the phrase “by the Committee” in the first line of the second paragraph of that section; replacing the phrase “eligible for consideration for a prorated award” in the third line of the second paragraph of that section with the phrase “eligible for Committee consideration of a prorated award”; deleting the phrase “by the Committee” in the clause of the first sentence of the fourth paragraph of that section that begins “provided that …”; replacing the phrase “Such award, if any, will be paid during the calendar year” at the beginning of the last sentence of the fourth paragraph of that section with the phrase “Any such award determination will be made and such award, if any, will be calculated in accordance with Section 5.1(c) as described above but will be paid in accordance with Section 7 during the calendar year”; and adding the phrase “and payable in accordance with Section 7” to the end of the last sentence of the last paragraph of that section. (4) Section 4.4 is amended by: replacing the phrase “that the Committee may” in the proviso clause in the first paragraph of that section with the phrase “that PNC may”; deleting the phrase “by the Committee” in the clause of the first sentence of the fourth paragraph of that section that begins “provided that …”; replacing the phrase “Such award, if any, will be paid during the year” at the beginning of the last sentence of the fourth paragraph of that section with the phrase “Any such award determination will be made and such award, if any, will be paid in accordance with Section 7 during the year”; and adding the phrase “and pa...
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Related to Amendment to 2007-2009 Incentive Performance Units Agreement

  • Grant of Performance Stock Units Subject to the terms of this Agreement, and the Incentive Plan, effective as of the Grant Date the Participant is hereby granted [Number] Performance Stock Units (the “Target Performance Units”). This Award contains the right to dividend equivalents (“Dividend Equivalents”) with respect to Earned Performance Units (as defined in Section 3(a)) as described in Section 4. Each Performance Stock Unit awarded hereunder shall become earned and vested as described in Section 3 and each Earned Performance Unit (and associated Earned Dividend Equivalents thereon as described in Section 4) shall be settled in accordance with Section 5.

  • Grant of Performance Share Units The Company hereby grants to the Participant the Target Number of PSUs Granted, effective as of the Date of Award and subject to the terms and conditions of the Plan and this Award Agreement. Each PSU represents the unsecured right to receive a number of Shares, if any, in accordance with the terms and conditions of this Award Agreement. The Participant shall not be required to pay any additional consideration for the issuance of the Shares, if any, upon settlement of the PSUs.

  • Grant of Performance Units Capital One hereby grants to you an award of Units with a Target Award, as indicated on the Grant Notice. The maximum payout for this award is 150% of the Target Award plus accrued dividends pursuant to Section 6. The Units shall vest and the underlying shares of common stock of Capital One, $.01 par value per share (such underlying shares, the “Shares”), shall be issuable only in accordance with the provisions of this Agreement and the Plan.

  • Long-Term Incentive Award During the Term, Executive shall be eligible to participate in the Company’s long-term incentive plan, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

  • Long-Term Incentive Awards The Executive shall participate in any long-term incentive awards offered to senior executives of the Company, as determined by the Compensation Committee.

  • Performance Units Subject to the limitations set forth in paragraph (c) hereof, the Committee may in its discretion grant Performance Units to any Eligible Person and shall evidence such grant in an Award Agreement that is delivered to the Participant which sets forth the terms and conditions of the Award.

  • Annual Incentive Plan Executive shall be entitled to participate fully in the Company's 1996 Management Incentive Compensation Plan, as amended (the "MICP"), and as may be further amended, modified, or replaced, from time to time, in accordance with the terms and conditions set forth herein and therein.

  • Grant of Performance Shares Pursuant to the provisions of (i) the Plan, (ii) the individual Award Agreement governing the grant, and (iii) these Terms and Conditions, the Employee may be entitled to receive Performance Shares. Each Performance Share that becomes payable shall entitle the Employee to receive from the Company one share of the Company's common stock (“Common Stock”) upon the expiration of the Incentive Period, as defined in Section 2, except as provided in Section 13. The actual number of Performance Shares an Employee will receive will be calculated in the manner described in these Terms and Conditions, including Exhibit A, and may be different than the Target Number of Performance Shares set forth in the Award Agreement.

  • Performance Shares Each Performance Share is a bookkeeping entry that records the equivalent of one Share. Upon the vesting of the Performance Shares as provided in Section 2, the vested Performance Shares will be settled as provided in Section 3.

  • Performance Share Units The Committee may, in its discretion, grant to Executive performance share units subject to performance vesting conditions (collectively, the “Performance Units”), which shall be subject to restrictions on their sale as set forth in the Plan and an associated Performance Unit Grant Letter.

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