Common use of Crediting to Account Clause in Contracts

Crediting to Account. After the end of the Performance Period, the Committee shall determine in writing the extent, if any, to which each of the Performance Goals has been satisfied and shall determine the percentage, if any, of the Target Number of Share Units that shall be credited to a book entry account established on your behalf (the “Account”), based on the payout level identified in the Performance Metrics. Each Share Unit credited to your Account under this Section 1(b) shall represent the contingent right to receive one Share and shall at all times be equal in value to one Share. (i) If, upon the conclusion of the Performance Period, the Company achieves less than 25% of the target level of a Performance Goal, then you shall not receive a credit of any Share Units with respect to that Performance Goal, and if the Company achieves less than 25% of the target level for both Performance Goals, this Agreement shall terminate immediately without further action or notice. (ii) If, upon the conclusion of the Performance Period, the Company achieves 25% or more of the target level of a Performance Goal, then you shall be credited with a number of Share Units with respect to such Performance Goal, effective on the day in which the Committee certifies the achievement of the Performance Goal as provided in this Section 1(b) (the “Crediting Date”), equal to the product of (A) your Target Number of Share Units, multiplied by (B) the combined weighted average of the payout levels for both Performance Goals as identified in the Performance Metrics (subject to such rounding conventions as may be implemented from time-to-time by Teradata’s third party Plan administrator).

Appears in 2 contracts

Samples: Performance Based Restricted Share Unit Agreement (Teradata Corp /De/), Performance Based Restricted Share Unit Agreement (Teradata Corp /De/)

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Crediting to Account. After the end of the Performance Period, the Committee shall determine in writing the extent, if any, to which each of the Performance Goals has been satisfied and shall determine the percentage, if any, of the Target Number of Share Stock Units that shall be credited to a book entry account established on your behalf (the “Account”), based on the payout level identified in the Performance Metrics. Each Share Stock Unit credited to your Account under this Section 1(b) shall represent the contingent right to receive one Share share of the Company’s common stock (a “Share”) and shall at all times be equal in value to one Share. (i) If, upon the conclusion of the Performance Period, the Company achieves less than 25% of the target level of a Performance Goal, then you shall not receive a credit of any Share Stock Units with respect to that Performance Goal, and if the Company achieves less than 25% of the target level for both Performance Goals, this Agreement shall terminate immediately without further action or notice. (ii) If, upon the conclusion of the Performance Period, the Company achieves 25% or more of the target level of a Performance Goal, then you shall be credited with a number of Share Stock Units with respect to such Performance Goal, effective on the day in which the Committee certifies the achievement of the Performance Goal as provided in this Section 1(b) (the “Crediting Date”), equal to the product of (A) your Target Number of Share Stock Units, multiplied by (B) the combined weighted average of the payout levels for both Performance Goals as identified in the Performance Metrics (subject to such rounding conventions as may be implemented from time-to-time by Teradata’s third party Plan administrator).

Appears in 1 contract

Samples: Performance Based Restricted Stock Unit Agreement (Teradata Corp /De/)

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Crediting to Account. After the end of the Performance Period, the Committee shall determine in writing the extent, if any, to which each of the Performance Goals has been satisfied and shall determine the percentage, if any, of the Target Number of Share Stock Units that shall be credited to a book entry account established on your behalf (the “Account”), based on the payout level identified in the Performance Metrics. Each Share Stock Unit credited to your Account under this Section 1(b) shall represent the contingent right to receive one Share share of the Company’s common stock (a “Share”) and shall at all times be equal in value to one Share. (i) If, upon the conclusion of the Performance Period, the Company achieves less than 25% of the target level of a Performance Goal, then you shall not receive a credit of any Share Stock Units with respect to that Performance Goal, and if the Company achieves less than 25% of the target level for both Performance Goals, this Agreement shall terminate immediately without further action or notice. (ii) If, upon the conclusion of the Performance Period, the Company achieves 25% or more of the target level of a Performance Goal, then you shall be credited with a number of Share Stock Units with respect to such Performance Goal, effective on the business day immediately following the day in which the Committee certifies the achievement of the Performance Goal as provided in this Section 1(b) (the “Crediting Date”), equal to the product of (A) your Target Number of Share Stock Units, multiplied by (B) the combined weighted average of the payout levels for both Performance Goals as identified in the Performance Metrics (subject to such rounding conventions as may be implemented from time-to-time by Teradata’s third party Plan administrator).

Appears in 1 contract

Samples: Performance Based Restricted Stock Unit Agreement (Teradata Corp /De/)

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