Award of Performance Shares. Subject to all terms and conditions of the Plan and this Agreement, the Company has awarded to the Employee on the date indicated on the Award Summary the number of Performance Shares (individually, the “PS”) as shown on the Award Summary. Notwithstanding anything herein to the contrary, only active Employees and those Employees on Short Term Disability Leave, Social Service Leave, Family Medical Leave or Paid Uniform Services Leave (pursuant to the Company’s Human Resources Policies) on the effective date of the award as shown on the Award Summary shall be eligible to receive the award.
Award of Performance Shares. Subject to the terms and conditions of the Plan and to the terms and conditions set forth in this Agreement, the Company on this date awards to the Participant the target number of Performance Shares equal to the number of Performance Shares Granted as shown in the box above (the “Performance Shares Granted”). The actual number of Performance Shares earned by the Participant shall be from 0% to 150% of the target Performance Shares Granted. The Performance Shares shall be considered a “Long Term Award” or a “long term incentive grant” under any employment agreement or the Company’s Executive Separation Policy (“Separation Policy”), as applicable to the Participant.
Award of Performance Shares. The Committee has awarded the Participant ( ) Performance Shares, effective as of the Grant Date, subject to the terms and conditions of the Plan and this Agreement.
Award of Performance Shares. The Company hereby awards to the Participant, effective as of the date the Committee formally approves the award by resolution, ________________ (____________) Performance Shares, subject to the terms and conditions of this Agreement and the provisions of the Plan. All provisions of the Plan, including defined terms, are incorporated herein and expressly made a part of this Agreement by reference. The Participant hereby acknowledges that he or she has received a copy of the Plan.
Award of Performance Shares. 1.1. The Trust hereby grants to the Key Employee, as of February 28, 2002 (the "Award Date"), Ten Thousand (10,000) Shares (the "Performance Shares"), subject to the restrictions and other terms and conditions set forth herein and in the Amended Plan.
1.2. On or as soon as practicable after the Award Date, the Trust shall cause one or more stock certificates representing the Performance Shares to be registered in the name of the Key Employee. Such stock certificate or certificates shall be subject to a stop-transfer order and such other restrictions as the Board of Trustees or any committee thereof may deem advisable under the rules, regulations, and other requirements of the Securities and Exchange Commission, any stock exchange upon which the Shares are listed and any applicable federal or state securities law, and the Trust may cause a legend or legends to be placed on such certificate or certificates to make appropriate reference to such restrictions.
1.3. The certificate or certificates representing the Performance Shares shall be held in custody by the Chief Financial Officer of the Trust until the Restriction Period (as hereinafter defined in Paragraph 4) with respect thereto shall have lapsed. Simultaneously with the execution and delivery of this Agreement, the Key Employee shall deliver to the Trust one or more undated stock powers endorsed in blank relating to the Performance Shares. The Trust shall deliver or cause to be delivered to the Key Employee or, in the case of the Key Employee's death, to the Key Employee's Beneficiary, one or more stock certificates for the appropriate number of Shares, free of all such restrictions, as to which the restrictions herein shall have expired. Upon forfeiture, in accordance with Paragraph 4, of all or any portion of the Performance Shares, the certificate or certificates representing the forfeited Performance Shares shall be canceled.
Award of Performance Shares. Pursuant to the Plan and this Agreement, the Company granted to Participant the number of Performance Shares specified in the Award Letter.
Award of Performance Shares. Subject to the terms and conditions set forth herein, the Company hereby awards the Participant the number of shares of Stock set forth on the signature page hereof as the target number of shares of Stock subject to this Agreement (the “Target Shares”).
Award of Performance Shares. The Company awards to the Participant the number of Target Performance Shares for the Performance Cycle set forth on Schedule B attached to this Agreement and made a part hereof. Except as otherwise provided by the Plan or this Agreement, each Performance Cycle shall commence on January 1 of the year and end on December 31 of the year indicated in the cycle.
Award of Performance Shares. Subject to the terms and conditions provided in this Agreement and the Plan, the Company hereby grants to Grantee _______________________ ___________________ (_______) Performance Shares (the “Performance Shares”) as of the Grant Date. The extent to which Xxxxxxx’s rights and interest in the Performance Shares become vested and non-forfeitable shall be determined in accordance with the provisions of Section 2 of this Agreement. The grant of the Performance Shares is made in consideration of the services to be rendered by Grantee to the Company.
Award of Performance Shares. (a) The number of Performance Shares actually earned will be based on the percentage of Grantee’s target incentive award, if any, that Grantee achieves during the Performance Period under the Company’s Key Management Annual Incentive Plan (the “Annual Incentive Plan”). Subject to the certification of the Company’s Compensation and Management Development Committee (the “Committee”) required by Section 2(b), and provided that Grantee is actively employed by the Company or a subsidiary thereof as of the last day of such fiscal year with respect to which a calculation is made to determine if Grantee is entitled to payment of Performance Shares, Grantee will be entitled to payment of a portion of the Target Grant of Performance Shares as calculated in this Section 2(a) if he achieves all or a portion of his target incentive award for a given fiscal year during the Performance Period.
(i) Grantee will be entitled to payment of all or a portion of his Target Grant of Performance Shares during the first three years of the Performance Period as follows:
(1) With respect to each of fiscal years 2006, 2007 and 2008, Grantee will be deemed to have earned a number of Performance Shares, if any, determined by multiplying an amount equal to one-third of the Target Grant of Performance Shares (the “Annual Target Amount”) by the percentage of the target incentive award that Grantee achieves for such fiscal year under the Annual Incentive Plan as in effect for that fiscal year, not to exceed 100%, and then rounding the resulting number up to the nearest whole number.
(2) If Grantee achieves 100% of his target incentive award under the Annual Incentive Plan in each of fiscal years 2006, 2007 and 2008, he will be deemed to have earned 100% of the Target Grant of Performance Shares.
(3) If Grantee earns a portion but less than 100% of the Annual Target Amount of Performance Shares with respect to any of fiscal years 2006, 2007 or 2008, Grantee shall forfeit the remaining portion of the Annual Target Amount not earned with respect to such fiscal year.
(4) If with respect to any of fiscal years 2006, 2007 or 2008 Grantee does not earn any portion of the Annual Target Amount of Performance Shares, Grantee shall be entitled to earn all or a portion of such Performance Shares in the fourth and fifth years of the Performance Period in accordance with Section 2(a)(ii) below.
(ii) Subject to Section 2(a)(iii), any Performance Shares not earned or not otherwise forfeited during the fir...
