Earning of Performance Units. After the applicable Performance Period has ended, the holder of Performance Units shall be entitled to receive a payout of the number of Performance Units earned by the Participant over the Performance Period, to be determined as a function of the extent to which the corresponding performance objectives have been achieved. After the grant of a Performance Unit, the Committee, in its sole discretion, may reduce or waive any performance objectives for such Performance Unit.
Earning of Performance Units. (a) Twenty-five percent (25%) of the Performance Units may be earned with respect to each of the four Performance Periods defined in Section 1(a) of this Schedule C and shall be earned as follows:
(i) If, upon the conclusion of a Performance Period, Adjusted EPS equals the threshold level, as set forth in the Performance Matrix contained in your Statement of Performance Goals, then 50% of the Performance Units allocated to such Performance Period shall become earned.
(ii) If, upon the conclusion of a Performance Period, Adjusted EPS equals the target level, as set forth in the Performance Matrix contained in your Statement of Performance Goals, then 100% of the Performance Units allocated to such Performance Period shall become earned.
(iii) If, upon the conclusion of a Performance Period, Adjusted EPS equals or exceeds the maximum level, as set forth in the Performance Matrix contained in your Statement of Performance Goals, then 200% of the Performance Units allocated to such Performance Period shall become earned.
(iv) If, upon the conclusion of a Performance Period, Adjusted EPS is greater than the threshold level, but less than the target level, or greater than the target level, but less than the maximum level, as set forth in the Performance Matrix contained in your Statement of Performance Goals, then a proportionate percentage of the Performance Units allocated to such Performance Period shall become earned, as determined by mathematical interpolation and rounded up to the nearest whole unit.
(b) In no event shall any Performance Units allocated to a Performance Period become earned if actual performance for such Performance Period falls below the threshold level for Adjusted EPS or if the Committee does not certify that the Management Objectives have been satisfied for such Performance Period.
(c) If the Committee determines that a change in the business, operations, corporate structure or capital structure of Avient, the manner in which it conducts business or other events or circumstances render the Management Objectives to be unsuitable, the Committee may modify such Management Objectives or the related levels of achievement, in whole or in part, as the Committee deems appropriate.
(d) Subject to the provisions of Sections 3 and 4 of this Schedule C, your right to receive any Performance Units is contingent upon your remaining in the continuous employ of Avient or a Subsidiary through the payment date, which shall be a date in 2025 determined b...
Earning of Performance Units. The Committee shall set Performance Goals in its discretion which, depending on the extent to which they are met within the applicable Performance Period, will determine the number and value of Performance Units that will be paid out to the Participant. After the applicable Performance Period has ended, the holder of Performance Units shall be entitled to receive payout on the number and value of Performance Units earned by the Participant over the Performance Period, to be determined as a function of the extent to which the corresponding Performance Goals have been achieved.
Earning of Performance Units. Except as provided in Section 13, after the applicable Performance Period has ended, the holder of Performance Units shall be entitled to payment based on the level of achievement of Performance Goals set by the Committee and as described in Section 11.2. If the Performance Unit is intended to comply with the Performance-Based Exception, the Committee shall certify the level of achievement of the Performance Goals in writing before the Award is settled. At the discretion of the Committee, the Award Agreement may specify that an Award of Performance Units is payable in cash, Shares or Restricted Stock Units.
Earning of Performance Units. Up to 150% of the number of Performance Units granted may be earned by the Recipient based on Operating Income for the 2018 fiscal year as set forth in Appendix A.
Earning of Performance Units. After the applicable time period has ended, the number of Performance Units earned by the Participant, and the amount payable in cash, in shares or in a combination thereof, over such time period shall be determined as a function of the extent to which the applicable corresponding performance goals have been achieved. This determination shall be made solely by the Committee. The Committee may, in its sole discretion, waive any performance or vesting conditions relating to a Performance Unit Award.
Earning of Performance Units. (a) The Grantee’s right to receive payment for any Performance Unit shall be determined on the basis of the Company’s return on capital employed during each three-year period which commences January 1, ___ and ends December 31, ___ (the “Performance Period”). Except as provided in this Section 2, the applicable percentage of the Target Performance Units, if any, earned by the Grantee shall range from 0% to 150%, based on the Company’s results during the Performance Period and the performance criteria set forth in Exhibit A.
(b) If, while in the continuous employ of the Company or a Subsidiary Company, the Grantee dies, retires at age 62 with at least 5 years of continuous employment or becomes permanently disabled (as determined by the Committee) prior to the date that the Performance Units are paid as provided herein, the Grantee shall be entitled to receive a prorated portion of the value of the Performance Units calculated under Section 2(a), determined by multiplying the value of the Performance Units by a fraction, the numerator of which is the number of days during the Performance Period that the Grantee was employed by the Company, or a Subsidiary and the denominator of which is the total number of days during the Performance Period.
(c) If a Change in Control occurs prior to the end of the Performance Period and while the Grantee is in the continuous employ of the Company or a Subsidiary, the Grantee shall be entitled to receive a prorated portion of the value of the Performance Units calculated under Section 2(a), determined by multiplying the value of the Performance Units by a fraction, the numerator of which is the number of days during the Performance Period that the Grantee was employed by the Company or a Subsidiary and the denominator of which is the total number of days during the Performance Period. The applicable percentage of the Target Performance Units earned by the Grantee shall be determined by the Committee, in its discretion, by using a reasonable estimate of Company performance.
Earning of Performance Units. The Participant shall have the ability to earn between 0% and 200% of the Target Performance Units, as determined by the Board, on the third anniversary of the Grant Date based on the continuing employment of the Participant during the period beginning on the Grant Date and ending on the third anniversary of the Grant Date (the “Performance Period”) and the level of the average closing prices of a share of Common Stock during the 60 day trading days immediately preceding the third anniversary of the Grant Date (the “Average Closing Price”) in accordance with the following: $ 4.00 50 % $ 7.00 100 % $ 10.00 200 % Linear interpolation between the Average Closing Prices will result in a proportionate number of the Target Performance Units becoming Earned Performance Units. The Performance Units that are earned in accordance with this Agreement are referred to herein as “Earned Performance Units”. Except as otherwise specifically provided in Sections 4 or 12 or in any other agreement between the Company and the Participant, if the Participant’s termination of employment or service with the Company, the Subsidiaries and the Affiliated Entities (the “Termination Date”) occurs prior to the last day of the Performance Period for any reason, the Participant’s right to all Performance Units awarded and Dividend Equivalent Units credited pursuant to this Agreement shall expire immediately, all Performance Units shall be forfeited, and the Participant shall have no further rights with respect to Performance Units or Dividend Equivalent Units pursuant to this Agreement or any other rights under this Agreement.
Earning of Performance Units. In calculating the number of PSUs that will be earned pursuant to Section II of the Performance Unit Award Agreement, the following terms will have the following meanings:
Earning of Performance Units. The Participant shall have no right or entitlement in respect of the Performance Units unless and to the extent the Performance Units become earned and vested in accordance with this Agreement. The Performance Units shall be earned as follows:
