Earning Performance Share Units Sample Clauses
The 'Earning Performance Share Units' clause defines the conditions under which an employee is granted and becomes entitled to receive performance share units (PSUs) as part of their compensation. Typically, this clause outlines the specific performance goals or metrics that must be met, the measurement period, and the process for determining the number of PSUs earned based on the company's or individual's achievement of these targets. For example, PSUs may be awarded if certain financial or operational benchmarks are reached over a set timeframe. The core function of this clause is to incentivize employees to meet or exceed performance objectives by tying a portion of their compensation to measurable results, thereby aligning their interests with those of the company.
Earning Performance Share Units. Subject to Section 1(b)(ii) and 1(c) below, the Employee shall earn a percentage of Performance Share Units in accordance with Schedule A on the date that the Committee certifies that the Company has achieved the performance goals set forth on Schedule A, which date shall be no later than two and a half months after the end of the performance period extending from January 1, [Year] to December 31, [Year+2], inclusive (the “Performance Period”).
Earning Performance Share Units. Subject to the terms of the Plan and this Award Agreement, the Participant shall be entitled to receive payment of the number and value of Performance Share Units earned by the Participant over the Performance Period, where the number of Performance Share Units is determined as a function of the extent to which the corresponding performance goals have been achieved.