EBITDA Cash Performance Units. Subject to the Participant’s continued Employment with the Company or one of its Affiliates (except as provided in Section 3(k)) through February 27, 2012, the EBITDA Cash Performance Units shall be earned with respect to one-third of the Units subject to the EBITDA Cash Performance Units on each EBITDA Performance Date to the extent that the Actual EBITDA for the fiscal year ending on such EBITDA Performance Date equals the Target EBITDA for such fiscal year. The maximum level of performance at which EBITDA Cash Performance Units can be earned is one hundred percent (100%) of Actual EBITDA. Above this target level of performance, the EBITDA Cash Performance Upside Units will be earned as explained in Section 3(d). The minimum level of performance at which EBITDA Cash Performance Units can be earned is eighty-five percent (85%) of Actual EBITDA. At this minimum level of performance, fifty percent (50%) of the one-third of the EBITDA Cash Performance Units can be earned on each EBITDA Performance Date. Below the minimum level of performance, zero percent (0%) EBITDA Cash Performance Units can be earned. EBITDA Cash Performance Units will be straight line interpolated for performance falling between target and minimum levels.
Appears in 8 contracts
Samples: 2004 Stock Incentive Plan (Foundation Coal Holdings, Inc.), 2004 Stock Incentive Plan (Foundation Coal Holdings, Inc.), 2004 Stock Incentive Plan (Foundation Coal Holdings, Inc.)
