Earning of Performance Stock Units Sample Clauses

Earning of Performance Stock Units. Performance Stock Units shall be deemed earned upon all of the following being met: (a) The Performance Period is complete; (b) Applicable performance criteria have been satisfied as set forth in Exhibit B; (c) Executive must be employed as of the last day of the Performance Period, subject to Section 5 below; and (d) The Committee has certified the performance criteria financial results.
Sample 1
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Earning of Performance Stock Units. Subject to the Participant’s continued Service and the possible vesting of any unvested PSUs upon a corporate transaction in accordance with Section 12 of the Plan and Section 3 of the Terms and Conditions, the number of PSUs that will be earned during each calendar year within the Performance Period is a function of the extent to which the corresponding EPS Performance Goal and Stock Price Performance Goal described in the below tables are achieved: Performance Period EPS1 Performance Goal Percentage of PSUs Earned January 1, 2015 - December 31, 2015 Base EPS2 [***]% Performance Period Stock Price3 Performance Goal Percentage of PSUs Earned January 1, 2015 to December 31, 2015 [***]% of Base Stock Price4 [***]% For the avoidance of doubt, if the applicable EPS Performance Goal or Stock Price Performance Goal is not achieved or exceeded as of a particular December 31, no PSUs will be earned with respect to such Performance Goal for such relevant calendar year. For example, if the Company does not achieve or exceed the EPS Performance Goal for the period beginning January 1, 2015 and ending December 31, 2015, [***]% of the total PSUs will not be earned as of December 31, 2015 and the Award shall lapse with respect to that [***]%. If the Company achieves or exceeds the Stock Price Performance Goal for the same period, [***]% of the PSUs will be earned for that period. The number of earned PSUs that will become vested shall be determined pursuant to Section III below. Whether the Performance Goals for a particular calendar year have been achieved shall be determined by the Company or Committee, as applicable, pursuant to Section 4 of the Terms and Conditions. 1 “Earnings Per Share” or “EPS” shall be defined in the Terms and Conditions. 2 “Base EPS” shall be defined in and the Terms and Conditions. 3 “Stock Price” shall be defined in the Terms and Conditions. 4 “Base Stock Price” shall be defined in the Terms and Conditions.
Sample 1
Earning of Performance Stock Units. As provided in Section II of the Performance Stock Unit Award Agreement, the number of PSUs that will be earned during each calendar year within the Performance Period is a function of the extent to which the corresponding EPS Performance Goal and Stock Price Performance Goal are achieved. For this purpose, the following terms will have the following meanings:
Sample 1
Earning of Performance Stock Units 
Sample 1Sample 2Sample 3

Related to Earning of Performance Stock Units

  • 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 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 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.

  • 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.

  • 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.

  • Performance Share Awards On the Performance Share Vesting Date next following the Executive's date of death, the number of Performance Shares that shall become Vested Performance Shares shall be determined by multiplying (a) that number of shares of Company Common Stock subject to the Performance Share Agreement that would have become Vested Performance Shares had no such termination occurred; provided, however, in no case shall the number of Performance Shares that become Vested Performance Shares exceed 100% of the Target Number of Performance Shares set forth in the Performance Share Agreement, by (b) the ratio of the number of full months of the Executive's employment with the Company during the Performance Period (as defined in the Performance Share Agreement) to the number of full months contained in the Performance Period. Vested Common Shares shall be issued in settlement of such Vested Performance Shares on the Settlement Date next following the Executive’s date of death.

  • Performance Share Award If your Award includes a Performance Share Award, and you voluntarily terminate your employment prior to the end of the Performance Period, you will forfeit your entire Performance Share Award. 

  • Vesting of Restricted Stock Units The restrictions and conditions of Section 1 of this Agreement shall lapse on the Vesting Date or Dates specified in the following schedule so long as the Grantee remains in a Business Relationship (as defined in Section 3 below) on such Dates. If a series of Vesting Dates is specified, then the restrictions and conditions in Section 1 shall lapse only with respect to the number of Restricted Stock Units specified as vested on such date. Incremental Number of Restricted Stock Units Vested Vesting Date The Administrator may at any time accelerate the vesting schedule specified in this Section 2.

  • 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.

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