Determination of Final Awards. As promptly as practicable upon the completion of the Performance Period, the Committee shall assess and certify the relative achievement of the Performance Criteria and determine the percentage (not to exceed [300%]), if any, of the Target Award to be awarded to Participant (the full number of Shares resulting from the application of such percentage being hereinafter called the “Final Award”), provided that the Committee shall bear no liability for any delay in such assessment. The Committee shall have the discretion to increase the Final Award, but not beyond the Maximum, and shall have no discretion to reduce the Final Award if and to the extent the Performance Criteria are satisfied. As promptly as practicable upon the determination of the Final Award, the Company shall notify Participant of the number of Shares to be issued in connection with the Final Award, including Distribution Reinvestment Shares, as defined below, provided that the Committee and the Company shall bear no liability for any delay in such notification.
Appears in 3 contracts
Samples: Long Term Performance Share Unit Award Agreement (W. P. Carey Inc.), Long Term Performance Share Unit Award Agreement (W. P. Carey Inc.), Long Term Performance Share Unit Award Agreement (Carey W P & Co LLC)
Determination of Final Awards. As promptly as practicable upon the completion of the Performance Period, the Committee shall assess and certify the relative achievement of the Performance Criteria and determine the percentage (not to exceed [300%]), if any, of the Target Award to be awarded to Participant (the full number of Common Shares resulting from the application of such percentage being hereinafter called the “"Final Award”"), provided that the Committee shall bear no liability for any delay in such assessment. The Committee shall have the discretion to increase the Final Award, but not beyond the Maximum, and shall have no discretion to reduce the Final Award if and to the extent the Performance Criteria are satisfied. As promptly as practicable upon the determination of the Final Award, the Company shall notify Participant of the number of Common Shares to be issued in connection with the Final Award, including Distribution Reinvestment Shares, as defined below, provided that the Committee and the Company shall bear no liability for any delay in such notification.
Appears in 1 contract
Samples: Long Term Performance Share Unit Award Agreement (Carey W P & Co LLC)