EBITDA Cash Upside Unit. 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 Upside Units shall be earned with respect to one-third of the Units subject to the EBITDA Cash Upside Units on each EBITDA Performance Date to the extent that the Actual EBITDA for the fiscal year ending on such EBITDA Performance Date is between one hundred percent (100%) and one hundred twenty percent (120%) of the Target EBITDA for such fiscal year. The maximum level of performance at which EBITDA Cash Upside Units can be earned is one hundred twenty percent (120%) of Actual EBITDA. At this maximum level of performance, fifty percent (50%) of the one-third of the EBITDA Restricted Stock Units earned at target performance level can be earned as EBITDA Cash Upside Units on each EBITDA Performance Date. Above this maximum level of performance, zero percent (0%) EBITDA Cash Upside Units can be earned. EBITDA Cash Upside Units will be straight line interpolated for performance falling between target and maximum levels of performance. The minimum level of performance at which EBITDA Cash Upside Units can begin to be earned is greater than one hundred percent (100%) of Actual EBITDA.
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.)
